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Gold/Mining/Energy : Haddington HDN-ASX

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To: Buckey who wrote (25)	10/29/1997 12:32:00 PM
From: Jesse	Read Replies (1) of 174

Haddington Resources Ltd - Kaltwasser drilling results HDD Shares issued 8151916 1997-10-28 close $0.32 Wednesday Oct 29 1997 Also Silverstone Resources Ltd (SVT) Dr Michael Pezim reports Haddington (50%) and Silverstone (50%) have received results from the first five diamond drill holes at the Kaltwasser property straddling the boundaries of Sheraton, Timmins, and Egan townships 50km southeast of Timmins, Ontario. These holes tested a high chargeability IP (induced polarization) anomaly along a drilled strike length of 1,000m. The anomaly remains open in both directions. An estimated further 2.5km of strike remains untested. The Kaltwasser property is 5km southeast of Cross Lake's recent massive sulphide discovery. Each drill hole intersected the same host rocks as Cross Lake's discovery, specifically pyritic felsic volcaniclastic rocks locally containing chalcopyrite (copper) and sphalerite (zinc). Felsic volcaniclastics are locally sericitized and silicified. Drill hole No. 1 intersected a 55.5m sequence of pyritic rhyolite breccia (fragmental), the thickest interval of the drill program. The pyritic felsic breccia and alteration is similar to pyritic envelopes found around volcanogenic massive sulphide deposits. Assays of the breccia units show locally elevated concentrations of zinc and copper. Gold assays occur locally within several units to 2.7 g/t over 0.5m (hole 4) and 1.2 g/t over 0.9m (hole 1). The companies are encouraged by these early results and are planning a second phase of exploration on the property and the newly acquired adjacent untested claims. This phase will consist of additional induced polarization surveying to trace the surface extent of the mineralization along strike in both directions. Diamond drilling will trace the mineralized felsic stratigraphy and coincident IP anomaly along strike and down dip. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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