BW1140 AUG 26,1997 6:32 PACIFIC 09:32 EASTERN
( BW)(ARANLEE-RESOURCES)(ARB.) Aranlee Reports Significant Gold and
Copper Results in Kazakstan
Business Editors
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 26, 1997--Aranlee
Resources Lt. (VSE:ARB.) Aranlee Resources Ltd. ("Aranlee") is
pleased to announce significant gold and copper results from its
exploration program on 3 key prospects within the 9,700 sq. km
Agadyr License in central Kazakstan.
These high priority porphyry targets were selected from an
initial inventory of 168 prospects and mineral occurrences compiled
from a large database accumulated by the State exploration
expeditions over the past 50 years. The excellent quality of this
mineral database, together with good infrastructure and access, made
it possible to quickly generate these promising targets, many with
extensive trenching and drilling data:
ZHEKEDUAN -- sampling of old trenches and outcrops reports gold
values ranging up to 14.4 g/t gold and 42 g/t silver in stockworked
and altered intrusives and sediments over a large area. Additional
results are awaited.
ALMALY -- initial sampling from mineralized intrusive rocks
reports values ranging up to 1.2 g/t gold, 100 g/t silver and 10.5
percent copper within a 1 km by 300 m area. Within the same area the
State exploration expedition estimated a resource of 80 million
tonnes at 0.43 percent copper and about 1.0 g/t gold.
KUZHAL -- initial outcrop sampling has outlined a 1.2 km by 0.2
km trend with values ranging up to 2.3 g/t gold and 10 g/t silver in
stockworked sediments.
Since the signing of the Letter of Intent with KazMinCo for the
Agadyr License in February 1997, Aranlee has established a well
staffed exploration office in Almaty, the capital of Kazakstan and a
field office in Agadyr (see attached map). Of the 168 mineral
occurrences and prospects identified to date, most have been visited
since the beginning of the field season in April and 8 of those
prospects have been initially selected for immediate follow-up, which
is currently in progress. The results are being continuously
evaluated in order to identify as early as possible top priority
targets for detailed work leading to selection of drill targets for
the spring of next year. The current 3 top priority targets are
discussed in more detail below:
ZHEKEDUAN PROSPECT
This copper/gold porphyry prospect is located in the northwest
corner of the 640 sq km Zhekeduan property (see attached map) and
consists of a stockworked granodiorite stock that has intruded an
assemblage of altered sediments and volcanics.
- Aranlee's initial, widely spaced rock samples of altered,
stockworked intrusives and sediments/volcanics from outcrops and
trenches range from background values up to 14.4 g/t gold and 42 g/t
silver.
- Extensive zones of quartz-sericite alteration and locally
strong stockworks generally correlate well with soil and/or pan
concentrate anomalies for gold, copper and molybdenum over an area of
approximately 1500 m by 500 m.
- In the northern part of the prospect area a wide-spaced,
shallow drilling program (to approximately 100 meters) by the State
exploration expedition identified a near-surface 32 m silicified zone
with reported values ranging from 0.2 percent to 0.5 percent copper;
it is not known at this time if drill samples were analyzed for gold.
- Some 400 m to the southwest a similar drill program intercepted
several 1 to 2 meter intervals with gold values ranging from 1.0 g/t
to 13.4 g/t gold; these results were not followed up by the
exploration expedition.
Overall the mineralization/alteration system on surface covers an
area of approximately 2.5 km x 2.5 km. Based on the above data, it
appears that the target may be part of a much larger system which is
partially obscured by thin surface cover. A more detailed mapping
and rock sampling program has been recently completed by the Company
(with results pending) in order to more clearly define drilling
targets.
ALMALY PROSPECT
This copper/gold porphyry target is located near the northern
border of the 550 sq km Nura property (see attached map) and consists
of a series of copper-gold prospects and occurrences related to an
elliptical (5 km x 2.5 km) granodiorite intrusive hosted by
sediments. Based on reports from previous exploration and Aranlee's
own preliminary mapping and sampling, the most attractive area is
located in the southeastern part of the intrusive where a significant
amount of trenching and some drilling was previously done by the
State exploration expeditions.
- The copper-gold mineralized zone, approximately 3 km long and
up to 330 m wide, displays signs of large, classic copper-gold
porphyry system with intense stockworking and visible copper
mineralization on the surface.
- Aranlee's surface sampling to date, from outcrops and trenches
within fractured granodiorite, has outlined a 1 km by 300 m area with
values ranging from background to 1.2 g/t gold, 100 g/t silver and
10.5 percent copper.
- The State geological expedition reported an estimated resource
of 80 million tonnes grading 0.43 percent copper (at a 0.3 percent
cut- off) with about 1 g/t gold from this area.
- One rock sample of fractured intrusive collected by Aranlee in
an area located 1.5 km to the northwest and previously not identified
by the State expedition gave a gold value of 1.5 g/t gold, 468 g/t
silver and 13.7 percent copper.
KUZHAL PROSPECT
Located near the center of the Nura property this gold prospect
consists of several mineralized zones in altered and locally heavily
veined and stockworked sediments within a broad contact zone adjacent
to a granitic intrusive.
The Company's initial surface sample results from a zone of
stockworked sediments has delineated an area (the East Ridge)
covering approximately 1,200 m by 200 m with values up to 2.3 g/t
gold and 10 g/t silver. Gold values up to 10 g/t in rock samples
were reported previously by the State exploration expedition within
this East Ridge area. A second, geologically similar zone (the West
Ridge) is located approximately 500 m to the west and assays from the
initial sampling of this zone are pending.
BALKHASH LICENSE
In addition to the Agadyr License, Aranlee has a pending
application for the Balkhash Exploration License, located
approximately 30 km south of the Agadyr License (see attached map).
At this time, the area is known principally for its porphyry copper
deposits, the largest of which is the Miedniy Kounrad Mine which has
produced over 2.7 million tonnes of copper from 450 million tonnes of
ore at a recovered copper grade of 0.60 percent. The mine is located
about 12 kilometers to the east of the Balkhash License. The
complete database for Balkhash will be available from the previous
State geological expedition programs when the Exploration License is
issued. Several specific copper and gold prospects are known in the
area.
Marketing efforts have commenced to raise equity funding for the
Company by a Toronto-based financial institution and the financing is
expected to be completed within the next 6 to 8 weeks.
-0-
Note to Editors: Location map available from the Company at the
phone number listed below.
The Vancouver Stock Exchange neither approves nor disapproves the
information contained in this News Release.
--30--eb/sf
CONTACT: Aranlee Resources Ltd.
Linda North, 602/596-9911
arl@aranlee.com
aranlee.com
KEYWORD: ARIZONA
INDUSTRY KEYWORD: MINING/METALS
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