~~~~~~~~~~~~~~~~~~~~~~NEWS RELEASE~~~~~~~~~~~~~~~~~~~~~
Here we go Darryl.............
Clone property drilling results
Minvita Enterprises Ltd MVE
Shares issued 5,714,827 Sep 15 close $0.38
Tue 16 Sept 97 News Release
See Teuton Resources Corporation (TUO) News Release
Mr Dino Cremonese reports
Assay results have been received for the first two holes of the 1997
drilling program on the Clone property, 12 miles southeast of Stewart, BC.
Holes 97-1 and 97-2 were drilled on the same azimuth with dips of 45 and 50
degrees, respectively, to test for depth extensions of gold-cobalt
mineralization exposed in several trenches at the southern end of the Main
zone. Twelve holes drilled in this vicinity in 1996 were unsuccessful in
following the mineralization to depth. The first two holes of the 1997
program were collared in accordance with a reinrerpretation of the attitude
of the gold-cobalt bearing structures.
Encouraging intercepts of gold-cobalt mineralization were encountered in
hole 97-2 as follows:
Interval Width* Au Co Au Eq**
(ft) (ft) (oz/t) (%) (oz/t)
----------- ----- ------ ------ ------
Hole No. 97-2
210.0-241.1 31.1 0.212 0.047 0.259
Includes
219.0-232.0 13.0 0.448 0.081 0.524
296.9-313.3 16.4 0.212 0.125 0.337
Includes
296.9-308.4 11.5 0.291 0.152 0.443
* Drill indicated width.
** Current gold price is US$322 per ounce
and the cobalt price is US$23.85 per
pound. The gold equivalent ratio is based
on cobalt priced at US$16.10 per pound.
Both holes 97-1 and 97-2 also encountered several intervals of lower grade
gold-cobalt mineralization from 0 to 200 ft depth. Hole 97-1 was terminated
at the 200 ft mark and consequently did not have a chance to intersect the
higher grade mineralization exposed below that level in hole 97-2. It is
anticipated that both of these holes will be re-entered and deepened before
the end of the 1997 program (hole 97-2 was terminated at 314 ft).
The drill is currently at 400 ft depth on hole 12, testing gold and
gold-cobalt mineralization exposed by trenching in 1996 in the Anderson
zone. The area is 3,800 ft along strike of the southernmost mineralization
in the Main zone and represents a 2,000 ft stepout from the most northerly
drilling in the 1996 program.
The Clone project is a 50-50 joint venture between Teuton Resources and
Minvita Enterprises 12 miles southeast of Stewart, BC.
Results have been received from a preliminary till sampling program across
Teuton and Minvita's recently optioned holdings in the Swan Hills area in
the southern portion of the Buffalo head craton, Alberta. Samples from near
the central, north-south boundary separating Teuton and Minvita's
properties contained chrome diopsides, 75% of which have been analyzed as
being within the diamond inclusion field. These samples appear to be
down-ice from circular magnetic features indicated in regional airborne
magnetometer survey maps.
A high resolution airborne geophysical survey is planned to cover both
properties.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
