Magnum Receives Exploration Report on the Undurshil Property, Discovers New Area of Mineralization
TORONTO, Jan 30, 2004 (BUSINESS WIRE) -- Magnum d'Or Resources Inc. (OTCBB:MAGR) Economic Implications Are Significant with Potential Economic Levels of Copper and Gold
Mr. Reno CALABRIGO, President - Magnum d'Or Resources Inc., a junior resource exploration Company is pleased to announce that it has received the exploration report on the Undurshil project from the exploration contractor Rio Minerals. While the report is still under review by management and the Board, we are pleased with the results, and intend to carry out the recommendations for further exploration.
Report summary is as follows...
Author: Gregory R. Thomson. P. Geo Rio Minerals Limited
INTERPRETATIONS AND CONCLUSIONS
The author, through geological interpretations, rock sampling results and results of geophysical surveys, concludes that the Shandi property is a project of geological merit and economic potential.
The property contains several areas of promising mineralization in a region of favorable geology associated with a large regional fault structure.
The Magnetite Hill Zone shows strong promise for a deeper-seated mineralized body associated within an area of intense silicification and stockwork quartz veining. The presence of strong magnetite mineralization with accompanying values in nickel and cobalt suggests the presence of a larger mineralized body that has yet to be discovered, either at surface or at depth.
The discovery of a new area of copper mineralization is most encouraging in terms of future exploration on the Shandi property. Given the close proximity to the Magnetite Hill Zone, a large scale mineralizing system is suggested for these two mineral zones.
The Arsenic Zone is unique in the anomalous multi-element nature of the mineralization sampled to date. These anomalous values, particularly high in arsenic and antimony are highly correlatable with very high values for iron, and suggest the possibilities for a large tonnage Iron Oxide Breccia deposit. The economic implications for this type of deposit are significant with respect to potential economic levels in copper, gold, uranium, and rare earth elements.
Recommendations
Based on our current understanding of at least three known mineral zones, a moderate program of diamond drilling is recommended for the Shandi mineral property. This drilling should be carried out with ongoing surface studies and geophysical surveys.
The management and Board are very pleased with the results of our exploration. Property acquisitions over the past 6 months have increased our portfolio of mineral properties from 50,000 to approximately 180,000 hectares or 444,700 acres. This large land package has yielded very promising results in a relatively short time with much more to do. It is the intention of the management and the Board of the Company to create shareholder value by acquiring, and exploring mineral properties that have the potential for large economic deposits.
Mr. Calabrigo further stated that all interested parties should sign up on the Company's website magnumexploration.com to receive recent updates.
SOURCE: Magnum d'Or Resources Inc.
Magnum d'Or Resources Inc.
Reno J. Calabrigo, 416-386-0044
Email: info@magnumexploration.com
Website: magnumexploration.com |
