The following release is worth a second review. I noticed on the MGR thread that MGR president David Webb made mention of a find of approx 300 meters x 2 km in size, the IPJ reported HBH prospect fits the bill and is located in the same Bayanhongor Gold Belt as the MGR Altai 1-2-3 claims which were just visited by David Webb last week.
Check his comments at:
exchange2000.com
Pursuit Confirms Ulzit Gol Trench Results, Mongolia
Business Wire - June 24, 1997 08:58
INTL-PURSUIT IPJ. %NEW-YORK %MINING %METALS V%BW P%BW
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TORONTO--(BUSINESS WIRE)--June 24, 1997-- International Pursui(TSE IPJ.) International Pursuit Corporation ("Pursuit") is pleased to announce trench results from the Huh Bulagin Hundiy ('HBH') prospect which lies within the Ulzit Gol License in West-Central Mongolia. The trenches were originally completed and sampled by a Soviet sponsored exploration program in the late 1980's.
The Ulzit Gol License covers 410,000 hectares and is located in the center of the Bayanhongor Gold Belt. Pursuit holds a 100 percent interest in the license.
The HBH prospect is a gold/copper skarn located at the contact of a metamorphosed limestone and a diabase sill. Mineralization has been identified by trenching along a 2 km arcuate contact zone. Previous reports noted a possible initial resource of 110,000 oz gold, based on a 4.0 g/tonne gold cut-off. No drill testing has been carried out, and most of the 2 km zone is not exposed.
Pursuit began an exploration program on the HBH prospect in early June 1997 and initially completed the cleaning and re-sampling of 5 trenches which exposed the skarn mineralization. Trenches 1 to 3 (20 m apart) are located 600 km east of trenches 4 and 5.
Results are as follows:
Trench Gold Width Including (9/h gold)
(g/tonne) (m)
1 3.72 10.0 6.25 over 5 m
2 4.47 8.0
3 5.67 6.0
4 17.42 10.0 28.6 over 6 m
5 nil 8.0
In addition, Pursuit has collected 913 soil samples over the 2 km long contact zone. Results are pending. Geophysical surveys (magnetics and induced polarization) are now being carried out over the prospect area. Initial drill testing of the HBH prospect is anticipated by August of this year.
The Ulzit Gol License area includes several other known gold prospects. Gold mineralization is typically associated with intrusive events characterized by quartz stockworks, veins and skarn. South of the HBH prospect Pursuit is also sampling the Khar at uul prospect which has reported samples up to 15.0 g/t gold. Pursuit management is very excited about this extensive gold bearing quartz stockwork zone, which is 1 km x 2 km in size.
Pursuit holds direct and indirect interests in 5 licenses in Mongolia totaling 2 million hectares. Exploration teams will be evaluating a number of priority gold prospects this season. Pursuit expects to drill test at least three prospects by year end.
Pursuit is a Canadian public company whose shares are listed on the Toronto Stock Exchange under the symbol ("IPJ").
CONTACT: International Pursuit Corporation
Investor Relations, 416/ 947-9216 or
1-800-396-5188 |
