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VENTURES RESOURCE DRILL RESULTS - MASSIVE SULFIDES ENCOUNTERED
For Immediate Release
December 8, 1997
VSE Symbol ÿ VRS
U.S. 12G ÿ 82-4575
www.venturesresource.com
Morristown, New Jersey - Ventures Resource Corporation ("Ventures") today announced the results of drilling on its Lead Creek mid-stage project (MSP) located in east central Alaska. Diamond drilling revealed numerous zones of high-grade silver, lead, and zinc. The Lead Creek MSP is located within five miles of the Taylor highway and is one of twelve prospects located within the 609,000 acres Champion property.
Drilling at Lead Creek was designed to test a 15,000 by 6,000 foot soil geochemical anomaly. Two of the seven core holes intersected a stratabound massive sulfide horizon with additional mineralization in silicified limestone breccias. Hole LC-7 intersected seven feet of massive sulfides grading 4.51 ounces per ton (opt) silver, 7.2% lead, and 0.2% zinc. A 3.5 foot interval in this horizon assays 8.8 opt silver, 14.2% lead, and 0.3% zinc. Hole LC-9, approximately 200 feet from LC-7, intersected an 18 foot interval of the massive sulfide horizon grading 2.6 opt silver, 2.1% lead, and 1.5% zinc; and a nine foot interval grading 1.8 opt silver, 2.4% lead, and 2.7% zinc. Assay results within these LC-9 intervals had up to 5.05 opt silver, 5.1% lead, and 2.8% zinc. Mineralized zones of brecciated and silicified limestones were encountered in about 150 feet of core in Hole LC-7 and in 100 feet of core in LC-9, and assays resulted in values up to 5.7 opt silver, 8.6% lead, and 4.0% zinc.
Mineralization was also encountered in brecciated quartzites, limestones, and tuffs in Hole LC-8, about 4,800 feet northwest of Holes LC-7 and LC-9. A 6.1 foot zone in LC-8 has grades of 0.57 opt silver, 2.0% lead, and 2.0% zinc with a 3.1 foot interval assaying 0.79 opt silver, 2.8% lead, and 2.8% zinc.
Drilling results confirm the presence of massive sulfides at the Lead Creek prospect. Additional drilling is planned to define the extent of the mineralized zones, and to explore untested parts of the large geochemical and geophysical anomalies. Ventures' Alaskan exploration program is planned and executed by WGM Inc., the Alaskan subsidiary of Watts, Griffis and McOuat.
Ventures holds exclusive mineral rights to six properties in Alaska, representing over three million acres (1.2 million ha), through an agreement with Doyon, Limited, the largest Alaskan Native corporation. The Company's holdings include 17 mid-stage projects and 92 early-stage prospects, including land in the immediate vicinity of Alaska's two newest gold discoveries: Placer Dome's Donlin Creek and Sumitomo/Teck's Pogo.
Ventures Resource Corporation is a North American exploration company dedicated to building shareholder value through the discovery of mineral deposits. For more information on Ventures Resource Corporation, kindly visit our website at www.venturesresource.com.
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