Hey bigjoe, I am starting to feel like the paper boy for this thread. The most recent news release is appended below. I suspect the accelerated announcements are a lead up to the listing. Since the last private placement was conditional on a listing, I would expect it to occur soon.
Any word on your end? Anyone else following this stock?
Suite 108 - 5405 Eglinton Avenue West Tel: (416) 620-4365
Etobicoke, Ontario M9C 5K6 Fax: (416) 620-5209
URL: www.atapa.com E-mail: gold@atapa.com
_____________________________________________________________________
*** NEWS RELEASE ***
CDN - ATAP
Etobicoke, Ontario October 15, 1997
Atapa Identifies New Gold Zone at Cikidang Project
Atapa Minerals Limited announces that recent exploration has resulted in the identification of a new zone of mineralization in the Cibodas area, south of the Cikidang zone in West Java, Indonesia. The Cikidang project is an epithermal gold-silver deposit within the 101,400 hectare Cikidang/Cikotok Super KP property.
The Cibodas area is located 250 metres south of the southern most exposure of the Cikidang Shear Zone and may be a fault offset and/or extension of the main zone. The new discovery is a shear zone that hosts quartz veins. Surface trenching combined with drilling has intersected the Cibodas Shear Zone for 200 metres along strike. Eight surface trenches returned intersections of up to 2.05 metres averaging 27.47 g/t Au. A total of eight diamond drill holes spaced 40 metres apart have been completed on three sections as an initial test of the Cibodas area. Drilling tested to a maximum of 70 metres below surface. The drilling confirms that the Cibodas Shear Zone dips east and varies in width from 5 metres to 14 metres. The gold mineralized portion of the zone varies from 0.85 to 5.20 metres (core lengths) in the drill hole intersections. The structure is open to the north, south and at depth.
Aneka Tambang previously undertook a geophysics (IP and Resistivity) survey which included the Cibodas area. The results of this survey have been re-evaluated and indicate that the Cibodas area is the focus of a number of merging resistivity anomalies. Stream sediment sampling by Antam also highlights the anomalous nature of this area, as well as indicating the prospectivity southwards of the current surface exposures of the Cibodas Shear Zone.
An intensive surface exploration effort is being undertaken within this area to define further drill targets. The results of the diamond drilling conducted to date on the Cibodas area are as follows (all drill sections are core lengths):
Results: Section 4140 North
Drill holes CBD01 (-45 degrees) 6894East and CBD02 (-55 degrees) 6877East were drilled eastward, while CBD03 (-45 degrees) 6934East was drilled westward. Drilling was to test both the mineralization and geology of the Cibodas Shear Zone as mapped from surface trenching.
CBD01 intersected the Shear Zone from 11.35 metres (elevation 1193) to 19.85 metres down hole and returned a mineralized intersection of 1.10 metres averaging 17.67 g/t Au and 11 g/t Ag.
Atapa Identifies New Gold Zone at Cikidang Project (continued)
CBD02 did not intersect the Shear Zone due to both fault displacement and the easterly dip of the Shear Zone.
CBD03 intersected the Shear Zone from 29.84 (elevation 1177) to 36.90 metres down hole and returned a mineralized intersection of 0.85 metres averaging 4.60 g/t Au and 4 g/t Ag.
Section 4100N
Drill holes CBD04 (-45 degrees) 6884East and CBD05 (-48.5 degrees) 6867East were drilled eastwards to test the depth continuity of the Cibodas Shear Zone and mineralization as intersected in trench TRC-12 (7.50 metres north and elevation 1221) which contained 2.05 metres averaging 27.47 g/t Au.
CBD04 intersected the Shear Zone from 30.45 metres (elevation 1197) to 44.40 metres down hole and returned a mineralized intersection of 5.20 metres averaging 22.26 g/t Au and 16 g/t Ag.
CBD05 intersected the Shear Zone from 73.60 metres (elevation 1161) to 85.00 metres down hole and returned a mineralized intersection of 3.20 metres averaging 1.36 g/t Au and 6 g/t Ag.
Section 4060N
Drill holes CBD06 (-46 degrees) 6886East and CBD07 (-50 degrees) 6861East were drilled eastwards, while CBD08 (-45 degrees) 6949E was drilled to the west, to test the depth continuity of the Cibodas Shear Zone and mineralization as intersected in trench TRC-14 (5 metres south and elevation 1235) which contained 0.90 metres averaging 11.70 g/t Au.
CBD06 intersected the Shear Zone from 25.10 metres (elevation 1214) to 38.35 metres down hole and returned a mineralized intersection of 4.10 metres averaging 13.68 g/t Au and 14 g/t Ag. Note: core was lost for 0.55 metres from within this reported grade zone.
CBD07 did not intersect the Cibodas Shear Zone, due to a combination of faulting and the easterly dip of the Shear Zone.
CBD08 intersected the Cibodas Shear Zone from 51.30 metres (elevation 1196) to 57.85 metres down hole and returned an intersection of 1.00 metre averaging 8.39 g/t Au and 11 g/t Ag.
The success of the initial exploration program of the Cibodas Shear Zone has added confidence that the Cikidang project contains a significant gold resource. Exploration efforts are being increased to identify further drill targets similar to that of the Cikidang and Cibodas Shear Zones.
ATAPA currently has approximately 9 million common shares outstanding and its shares trade on the Canadian Dealing Network (CDN) in Toronto as ATAP.
For further information, please contact Janet Kosowan at Atapa:
Canada: Toll Free: 1-800-392-8430 (Canada and the USA) |
