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Gold/Mining/Energy : International Panorama

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To: Colin Adams who wrote (172)	1/9/1998 12:21:00 AM
From: rdww	Read Replies (1) of 264

Kakanda north pit drill results International Panorama Resource Corp ILP Shares issued 11,430,865 Jan 7 close $0.79 Thu 8 Jan 98 News Release Mr Adrian Hartmann reports The company has completed an independent resource verification on the Kakanda north pit hard rock copper/cobalt deposit in Ketanga province, Democratic Republic of Congo (DRC). Initial resource data was supplied by Gecamines, the DRC state mining enterprise and the company's joint venture partner in the development of a US$270 million tailings recovery and hard rock mining project. The audit drilling program was conducted by Steffen Robertson Kirsten (SRK) of Johannesburg. Analyses of the five holes drilled by SRK show that the results for copper grades compare to within 10% of Gecamines' data. The SRK copper grades average 3.81% compared to 3.76% for Gecamines' data. The cobalt grades are lower at 0.12% compared with an average of 0.20% for Gecamines data. Bulk density analysis on the core identifies a geological resource of 21.6 million tonnes. The five bore holes corroborate the continuity of the ore body geology with respect to structure (dip and strike) and the formation thickness compares to within 10% of Gecamines data. Metallurgical testing of drill core samples is now under way at Mintek Laboratories in Johannesburg. The tests include crushing, grinding and flotation to produce a concentrate suitable for hydrometallurgical treatment in the tailings processing facility. The mineable reserves for the north pit will be determined from the computer model of the drill hole data and the capital and operating cost estimates, based on the metallurgical test results. This audit drilling program conducted by SRK was done in cooperation with Dr F. Mendelsohn, a copper belt geologist, to interpret the drill holes. The purpose was to verify the Gecamines grades and logging and to collect samples for metallurgical testing. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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