To All: NEWS RELEASE
STARPOINT GOLDFIELDS INC. - MASSIVE GOLD & DIAMOND
TARGETS - IN CONGO GREENSTONE BELTS
VANCOUVER, B.C.--
Starpoint Goldfields is pleased to provide an update on its northeast Congo
gold and diamond properties.
Data in the January 12, 1998 Exploration Targets on the Tele, Panga and Ngayu
West Concessions Report of Gordon Richards, P.Eng, on previous research has
enabled identification of drill areas on five massive gold targets with
several million ounces potential on at least two properties. The date also
indicates a strong potential for profitable diamond mining on these
properties.
"The Mambati Zone on the Ngayu West Concession has 161 identified quartz vein
occurrences in test pits grading up to 59.0, 67.5 and 72.5 g/t gold with
numerous small beds of iron formation over a 7 km length and 300 m average
width within an eluvial gold reserve. The zone of eluvial mining with quartz
veins and iron formation is parallel to a thick iron formation to the north
and could be reflecting underlying stratabound or shear zone controlled
mineralization of several million ounces of gold." The Babeyru-Marekesa Zone
produced approximately 4,000 kg of alluvial gold. Hundreds of veins are
recorded for these areas with widths up to 280 cm and grades ranging to 358
g/t from a 15 to 50 cm wide vein. Average of 16 previous samples from
this location along the vein was 63 g/t gold.
The Kanwa-Sese Zone on the Tele Concession, defined by a zone of quartz
veins, produced approximately 1,140 kg of alluvial and eluvial gold along
mining pits 3 km wide by 15 km long and associated with structurally
complicated iron formation and schists. Mineralization of several million
ounces of gold reserve is also possible within this Zone. Nineteen areas are
identified as locations for diamonds in Richards' report and previous data on
diamond Occurrences notes "reported diamond prospections refer to 'blue and
yellow clay' bedrock, corresponding to the typical weathering pattern of
kimberlites".
Starpoint's President Mr. F. R. Ilott, along with Gordon Richards who will
head the exploration team, will leave for Kinshasa shortly. Ilott will
establish an office in Kinshasa for Starpoint's subsidiary company, Starpoint
Goldfields Congo. Richards will lead the team of geologists and technical
personnel to the properties and provide detailed information for diamond
drilling on the Mambeti, followed as time permits by Imva, Babeyru-Marekesa,
and Natge.
Starpoint believes that with on-site assessment there will be early
confirmation of a world class major gold resource. Reports on the Company's
progress will be issued on a regular basis.
ON BEHALF OF THE BOARD OF DIRECTORS
STARPOINT GOLDFIELDS INC.
(signed)
F. R. Ilott
President.
The Vancouver Stock Exchange has neither approved nor disapproved of the
contents herein.
Web:http://www.starpoint.com E-Mail:sts@starpoint.com
Tel: 604-688-6838
Fax: 604-688-6839
Toll Free 1-800-852-8885 |
