Ventures Resource Discovers High Grade Mineralization On Veta Property In Alaska
For Immediate Release
September 24, 1997
VSE Symbol ÿ VRS
U.S. 12G ÿ 82-4575
Eva Mid-Stage Project Map (www.venturesresource.com/sep24.gif)
Morristown, New Jersey - Ventures Resource Corporation ("Ventures") today announced high grade silver, lead, zinc and copper mineralization from trenching on its Eva mid-stage project (MSP). The Eva MSP is located within the 980,000 acre (392,000 ha) Veta property, located between the Alaska and Taylor highways approximately 100 miles (160 km) southeast of Fairbanks, Alaska. The Veta property is near the Sumitomo/Teck Pogo gold project and includes 2 mid-stage projects (MSPs) and 27 early-stage prospects.
The Eva MSP is a high grade vein, averaging approximately 20 feet (6 m) in thickness, that has been traced for over 1,800 feet (550 m) on surface through geochemical sampling. An 18 foot (5.5 m) trench sample across the vein assays 19.4 ounces per ton (opt) (664.4 grams per tonne (g/t)) silver, 28.7% lead, 9.4% zinc, 0.28% copper and 0.003 opt (0.1 g/t) gold. Individual grab samples elsewhere along a 100 foot (30 m) exposed portion of the vein assay over 24 opt (822 g/t) silver, 11% lead, 40% zinc and 0.7% copper. (See attached map.)
With approximately 30% of the results from the 1997 US$5 million Alaskan exploration program released, Ventures has delineated three high grade base and precious metal targets on the 426,000 acre (170,000 ha) Wiseman and 980,000 acre (392,000 ha) Veta properties. The remaining results for the 1997 program will be released during the ensuing six weeks when analyses are completed. (See press release dated September 9th).
Ventures' Alaskan exploration program is being financed with cash on hand and 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 3 million acres (1.2 million ha), through an agreement with Doyon, Limited, the largest Alaskan Native Corporation. The Company's property holdings include 17 mid-stage exploration projects and 92 early-stage prospects, including land immediately adjacent to 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.
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