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Gold/Mining/Energy : White Knight Resources WKR-VSE

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To: Wil Girney who wrote ()	12/1/1997 7:55:00 PM
From: Dev	Read Replies (1) of 39

It's all about time. Latest news out today! White Knight Resources Ltd - Large gold resource identified at Indian Ranch White Knight Resources Ltd WKR Shares issued 20426844 1997-11-28 close $0.7 Monday Dec 1 1997 Also Chapleau Resources Ltd (CHI) Mr James McDonald and Mr Eric Wiltzen report The 1997 drilling program has successfully identified a large gold resource on the Indian Ranch property. Nine holes of a 20-hole program encountered persistent gold mineralization over an area measuring 350 feet by 700 feet to a vertical depth of 755 feet. Combined with pre-1997 drilling this zone is part of a larger area of gold mineralization which can be traced for over 2,000 feet in strike length and 1,200 feet of width over thicknesses of 10 to 520 feet. Grades are typically 0.01 opt gold plus, with higher grades up to 0.22 opt gold over 10 feet. This extensive mineralization is significant since it is closely comparable to the low grade edges or envelopes seen around the larger sediment hosted gold deposits in Nevada. South Pipeline, Gold Quarry and Goldstrike, which collectively host in excess of 56 million ounces of mineable gold, all have broad halos of low grade gold mineralization which extend for several hundred feet beyond the mineable portions of the gold deposit. Management believes the large volume of low grade mineralization discovered at Indian Ranch is consistent with a low grade envelope and as such, potential for discovering an ore grade deposit is high. Results from the remaining four holes of the 20 hole program are: Hole Ft Gold From To opt ft ft 97IR17 155 0.016 190 345 includes 25 0.03 215 240 75 0.02 535 610 97IR18 20 0.01 225 245 135 0.01 340 475 971RI9 15 0.012 85 100 Holes 97IR17 and 97IR18 extend the mineralization northwest and 97IR19 was lost at 200 feet before reaching the projected extension of the zone to the west. Hole 97IR20, an offset to the southeast, hit weakly anomalous gold. Gold occurs preferentially within strongly fractured dolomitic siltstone mineralized by disseminated orpiment, realgar and pyrite. Gold mineralization remains open to the north, east and south as well as at depth. Data is being compiled and cross sections constructed in preparation for a 1998 drill program which will be designed to define the limits of mineralization and find higher grade feeder zones. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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