|
Thank God I don't own it any more:
TAKLA STAR RESOURCES LTD. - DRILLING UPDATE, LABRADOR
EDMONTON, September 16 /CNW/ - Mr. James P. Stewart, President of Takla
Star Resources Ltd., announces that project operator NDT Ventures Ltd. has
completed drilling for the season on Takla Star's 24,300 hectare Labrador
joint venture land package.
Earlier today, NDT Ventures President, Mr. Fred Hewett, stated:
``In the Voisey's Bay area, drilling has been completed on project No.61
... drill hole No.28-61 was drilled to 524 meters to test the base of a
troctolite intrusion that is postulated to represent the southernmost
extent of the Reid Brook intrusion, which hosts the Voisey's Bay
deposits. The drill hole was collared on the peak of a 4.5 mgal gravity
anomaly which is centered over the intrusion. The hole intersected
troctolite which is brecciated and veined by the younger Makhavinekh
granite, down to a depth of 475 metres and then entered granite. No
economic mineralization was encountered. Drill hole No.29-61 tested weak
MT conductors coincident with a gravity anomaly about 200 metres east of
hole No.28-61. The drill hole intersected the same brecciated troctolite
as No.28-61 down to 322 metres and was stopped after intersecting 102
metres of granite. It appears that the MT anomaly was caused by a 5
meter thick zone of Tasiuyak gneiss carrying 5% sulphides and 3%
graphite. Testing of potential zones beneath the younger granite at depth
in both holes was beyond the depth capacity of the drill rig used.
MT surveys have been completed over five other projects in the Voisey's
Bay area all of which are in joint ventures with Takla Star Resources
Ltd. On Project No.47 located east of Nain, drill hole No.33-47 was
completed to a depth of 948 metres on a strong MT conductor associated
with a troctolite intrusion. The hole intersected troctolite and
magnetite rich anorthosite throughout, but drill conditions prevented the
completion of the hole and the cause of the conductor remains
unexplained.
Crews are presently demobilizing NDT's camps and the Company will begin a
thorough review of all 1997 Labrador exploration results.''
Takla Star is a well financed, public Canadian exploration company with
nickel-copper-cobalt exploration projects in Labrador, and gold exploration
projects in Bolivia and Peru.
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
%SEDAR: 00003683E |
