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Gold/Mining/Energy : Starpoint Gold
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To: Bohdan who wrote (1729)10/24/1997 2:30:00 PM
From: D. Wei  Read Replies (2) of 2378
 
News; not a bad one this time.

Records and maps acquired on gold mineral concessions in Democraticÿÿÿÿÿÿÿ
Republic of Congoÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
Starpoint Goldfields Incÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ STS
Shares issued 6,444,175ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Oct 23 close $0.17
Fri 24 Oct 97ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release
Mr F.R. Ilott reports
The company has been able to acquire the mining records andÿ detailedÿ maps
onÿ itsÿ northeastÿ goldÿ mineral concessions in the Democratic Republic of
Congo from theÿ Belgianÿ miningÿ companiesÿ whoÿ operatedÿ thereÿ priorÿ to
independence in 1960. These records have been uncovered in the Royal Museum
of Central Afrika in Belgium by Starpoint staff andÿ independentÿ geologist
Gordonÿ G.ÿ Richards,ÿ andÿ aÿ summaryÿ ofÿ theÿ data on one of Starpoint's
properties is contained within this release. The information obtainedÿ from
the above institute has enabled Starpoint to advance quickly on development
of one of the main targets on one of the concessions.
After review of the documents and for clarificationÿ purposes,ÿ Starpoint's
Adumbi-Yindiÿ concessionÿ willÿ be referred to as the Ngayu West concession
and is the focus of this release.
A study of the volumes of detailed miningÿ records,ÿ mapsÿ andÿ exploration
targetsÿ by the early operators on the Ngayu West concession may be briefly
outlined as follows:
1.ÿÿ The Ngayu West concession covers Archean greenstones with alluvial and
ÿÿÿÿ eluvial gold production.
2.ÿÿ Recorded gold production is 10 tons of gold from alluvial deposits and
ÿÿÿÿ 0.5 tons of gold from eluvial deposits when gold was economic at $35
ÿÿÿÿ per ounce.
3.ÿÿ The Mambati eluvial deposit is considered a direct lead for
ÿÿÿÿ exploration of unweathered primary ore, i.e. below surficial
ÿÿÿÿ weathering lying immediately beneath portions of the 7km trace of
ÿÿÿÿ eluvial mining.
4.ÿÿ Other leads to mineralization also occur on the concession and include
ÿÿÿÿ the following:
the 1km by 3km zone of indicated eluvial gold 3km north of the main Mambati
zone;ÿ theÿ areaÿ northÿ ofÿ Imvaÿ containingÿ smallÿ areas of eluvial gold
production and quartz veins within an extensive area of alluvial gold;ÿ the
areaÿ ofÿ alluvial gold production northeast of Mambati containing numerous
quartz veins and eluvial mining at Babeyru-B. Details ofÿ thisÿ miningÿ and
testingÿ is being forwarded to Starpoint from the museum. The large area of
alluvial gold production north of the area described has no direct leads at
present but is considered an excellent target for lode gold exploration.
5.ÿÿ Lode gold production is known from other greenstone belts east of
ÿÿÿÿ Starpoint's concessions with widths of veins in the range of 0.5 to
ÿÿÿÿ 2m. Grades are variable but generally reported as 6 to 10 g/t.
The vast amount of information combined with the expert assistance received
fromÿ theÿ economicÿ geologistsÿ atÿ the museum, has enabled the company to
advanceÿ itsÿ explorationÿ schedule.ÿ Aÿ teamÿ ofÿ Congoleseÿ andÿ Canadian
geologistsÿ will arrive at the property early November to begin geochemical
soil and rock sampling to define the size and intensity ofÿ mineralization.
Ifÿ theÿ mineralizationÿ is as indicated in the records, drill targets will
develop quickly.
Theÿ Belgianÿ geologistsÿ areÿ continuingÿ theirÿ reviewÿÿ ofÿÿ Starpoint's
concessions and reports will follow beginning mid November. A review of all
data relevant to Starpoint's concessions is continuing and detailed reports
onÿ theÿ twoÿ additionalÿ northeastÿ concessions,ÿ theÿ Tele and Panga, are
expected in December and January.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

Dorothy
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