CALGARY, ALBERTA--
OROGRANDE RESOURCES INC.
926, 1122-4th Street SW
Calgary, AB T2R 1M1
Tel (403) 233-2964
Fax (403) 264-0057
NEWS RELEASE ORG-ASE
November 5, 1997
Drilling results at our Nizi project in Northern B.C. - Our joint venture
partners, Madrona Mining Limited have informed us that they have completed
detailed geological mapping, re-logging and reassessment of the 1996 drill
core and a 3000-foot diamond drilling program on its Nizi Property, located
80 km northeast of the settlement of Dease Lake in north-central British
Columbia. Gold and silver mineralization occurs in a sub vertical to
vertical, multistage, quartz vein-stockwork system and associated
hydrothermal breccia. The vein-stockwork system is hosted by a sequence of
fault-bounded, hydrothermally altered, andesitic to rhyolitic, flows, tuffs
and subvolcanic intrusions ("Nizi volcanic sequence") of probable Tertiary
age.
Drilling in 1997 was aimed at testing the extent of mineralization in the
Discovery Vein area where previous drilling by Madrona cored 3.1 metres of
14.9 g/t gold and 154.7 g/t silver. This year four holes were drilled to
evaluate the stockwork mineralization in the Discovery Vein area and a fifth
was drilled to test a rhyolite flow dome complex. Rhyolite flow domes and
associated tuffs are common hosts to epithermal deposits in volcanic
sequences.
Our drilling to date confirms the potential for both high-grade gold-silver
mineralization with gold values up to 14.9 g/t and low-grade, high tonnage
gold mineralization with tenors 0.7 to 3 g/t Au on the Nizi Property over
core lengths up to 12 metres. All significant intersections are integrated
in the table below to show the potential for low-grade, high-tonnage ('bulk'
mineable) gold mineralization in the Discovery Vein area, where previous
channel samples returned values up to 27.09 g/t gold and 1220.6 g/t silver
over 2.0 metres. To date an area of 96m by 228m to a depth of 125 m, open in
all directions, has been identified for 'bulk' mining potential in the
Discovery Vein area.
Hole NZ-97-19 was a geological wildcat hole drilled to test a rhyolite flow
dome complex. Anomalous silver assays of 7.1 g/t silver over 9 metres and
11.34 g/t silver over 6.59 metres in quartz stockwork, visually identical to
that in the Discovery Vein area, were obtained. Within 100m of the mapped
extent of the rhyolite flow domes, a rhyolite at the Zinc Lake Showing hosts
quartz veins and lenses that from grab samples have assayed up to 3.14 g/t
Au and 950 g/t Ag. Additional drilling will be required to adequately test
this zone.
A new target (the "Hill Zone") in the northwestern corner of the property has
been identified. During the 1997 field season mapping and sampling
documented gold-bearing stockworks and veins similar to those in the
Discovery Vein area. Grab samples collected by Madrona from quartz veins and
stockworks in the Hill Zone assayed up to 3.58 g/t Au. Gold values from
quartz vein grab samples up to 12.45 g/t have been reported by previous
workers in this area. Drilling will be required to fully evaluate the
potential of this zone.
Madrona's field work this season has confirmed that the entire area
underlain by the Nizi volcanics, a pie-shaped area extending up to 3 km in
length and 1 km at its widest, remains prospective for epithermal gold and
silver deposits Models for epithermal precious metals deposits suggest
that the extensive low grade stockworks in the Discovery Vain area maybe the
shallow signature of high grade mineralization at depth. Over the next few
months the company will complete three-dimensional integration of geology,
alteration patterns and structures to allow drilling to start as soon as
weather permits on the three separate target zones identified above.
Drill Hole Interval Width True Width* Gold Silver
(metres) (metres) (metres) (g/t) (g/t)
-------------------------------------------------------------------------
NZ-96-9** 106.1 to 118.3 12.2 6.1 4.12 45.91
including
115.2 to 118.3 3.1 1.55 14.91 154.7
NZ-96-10** 109.1 to 119.8 10.7 5.35 1.08 9.80
including
109.1 to 113.7 4.6 2.3 2.08 18.42
130.45 to 144.2 13.75 6.88 7.65 23.56
NZ-96-12** 64.9 to 69.5 4.6 2.31 1.28 808.6
110.6 to 135.0 24.4 12.2 1.17 16.94
including
116.7 to 119.8 3.1 1.55 1.43 47.2
121.3 to 133.5 12.2 6.1 1.7 18.0
151.8 to 156.4 4.6 2.3 0.68 70.33
NZ-97-15 7.37 to 7.9 0.53 0.27 1.27 5.90
66.25 to 100.0 33.75 16.88 0.69 17.6
including
84.45 to 88.0 3.55 1.78 1.30 39.25
94.0 to 96.0 2.0 1.0 1.43 41.5
NZ-97-16 17.1 to 32.0 14.9 5.1 1.68 6.32
including
17.1 to 22.1 5.0 1.71 3.98 11.51
NZ-97-18 21.45 to 22.45 1.0 0.34 1.66 19.90
35.0 to 42.0 7.0 2.39 1.57 31.14
including
37.0 to 40.0 3.0 1.0 3.19 67.16
49.0 to 51.0 2.0 0.68 1.93 5.10
**1996 drilling - previously released
- assuming vertical vein-stockwork system
For further information, please contact Guillermo Salazar S., President, at
403-233-2964.
The Alberta Stock exchange has neither approved nor disapproved the
information contained in this news release.
1
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