Hey Gang:
Nice to finally see an Abitibi release & some planned work. We saw a very nice run last year .. now $1.65 sounds great. Just pulled that # outta my #$%@&&*&%$ .. this could be a 5 bagger, stranger things have happened. We know they have the property! Question is DO THEY HAVE THE PR to pull it together & make a run. At the very least this should be an easy double, IMO. Good Investing!
November 5, 1997 Symbol: ABB - VSE #28-97
Exploration Update on Four Projects
Abitibi Mining Corp. is pleased to provide an update on four exploration
projects currently under evaluation. These projects include the Tannahill
Gold Project, the Blackstock Volcanogenic Massive Sulphide (VMS) Project,
the Strathy VMS Project, and the Shore Acres VMS Project.
Tannahill Gold Project
Work on the Tannahill Project has focused on delineating a northeast
structure interpreted as a main control on gold mineralization. Previous
diamond drilling encountered significant gold mineralization associated with
a second order structure (Tannahill Lower Zone) off this main structure:
DDH # gm/t Width m
T-96-9 5.16 gm/t over 5.0 m
T-96-11 4.80 gm/t over 5.0 m
T-96-15 7.02 gm/t over 3.7 m
Geophysical surveys have successfully delineated the main structure for
approximately 3 km of strike length. Approximately 12 geochemical anomalies
have been identified along this structure. Mechanical stripping over a
number of these anomalies has identified the vertical structure and returned
gold assays up to 3.5 gm/t Au.
Diamond drilling, scheduled to commence in January of 1998, will focus on
testing the strike extent and dip extent of this gold bearing structure.
Additional diamond drilling will test the Main Zone with drill centres
appropriate to establish a resource calculation.
Blackstock VMS Project
Work on the Blackstock Project has focused on testing a number of strong
airborne anomalies situated in Fallon Township (approximately 25 km
southwest of Cross Lake Minerals) new VMS discovery. The geology of the
area consists of intermediate and felsic metavolcanic rocks, favorable for
hosting a VMS deposit. Linecutting and geophysical surveys are currently
being completed in order to pinpoint the strong airborne anomalies. Diamond
drilling is anticipated to commence in early December, 1997, upon completion
of the ground surveys.
Strathy VMS Project
The Strathy VMS project hosts favorable rhyolite geology with significant
sulphide mineralization which has returned highly anomalous copper and zinc
mineralization in the three holes drilled to date (0.32% Cu, 0.19% Zn over
9.4m). Approximately 800 metres of strike length along the conductive
sulphide horizon remain untested. One additional drill target is situated
at the north felsic/mafic contact where an HLEM anomaly has been identified.
Diamond drilling is scheduled to commence in January, 1988, once ice
conditions are favorable for drilling. Poor ice conditions last winter
prevented drilling on this project.
Shore Acres VMS Project
Exploration is currently under way on the Shore Acres Project, situated 70
km south of Timmins, Ontario. Past work on the project identified
encouraging rhyolite geology with a number of significant pyrite rich
massive sulphide intersections. Two previously untested airborne anomalies
are currently under evaluation. Linecutting and HLEM surveys are currently
being completed, with diamond drilling anticipated to commence towards the
end of November, 1997.
On behalf of the Board of Directors,
ABITIBI MINING CORP.
"Richard W. Hughes"
President |
