Company Press Release
Wednesday February 18, 11:08 am Eastern Time
Altair Announces New Drill Holes Completed
CODY, Wyoming--(BUSINESS WIRE)--Feb. 18, 1998--Altair International(Alberta Stock Exchange:AIL. - news; NASDAQ:ALTIF - news) Altair International Inc. has completed drilling 36 additional holes at its Camden, Tennessee titanium/zircon sand property.
Twenty seven of the holes were drilled on straight line patterns, ''fences'', designed to confirm geologic interpretations and mineral continuity in the deposit. The remaining nine holes were drilled within areas previously drilled and provide more precise detail about strand line boundaries. In total, Altair has now drilled 72 holes on the property.
Heavy mineral sample analysis is currently underway at the Commercial Test and Engineering (CT&E) laboratories in Denver, Colorado. As sample results are completed, data is being input into a computer generated geologic/resource model, which has been developed for Altair by Mine Development Associates of Reno, Nevada.
''This round of drilling is confirming our earlier assumptions about this deposit which, based on previous reports, totaled approximately 11 million metric tonnes of heavy minerals,'' said Dr. William Long, president of Altair. The resource model update should be completed in early March. Results will be made available. The company will also be utilizing this data in the preparation of the prefeasibility
study.
Altair International is in the development stage of commercializing its state-of-the-art technology, the Centrifugal Jig, which recovers extremely fine, heavy particulate matter using a combination of a mechanical jig and centrifugal force. Potential applications include gold/mineral recovery, coal cleaning and environmental remediation. Altair is the 100 percent owner of a large titanium/zircon mineral deposit in Tennessee.
This press release may be deemed to contain certain forward-looking statements with respect to the Company that are subject to risks and uncertainties that include, but are not limited to, those identified in the Company's press releases or discussed from time to time in the Company's Securities and Exchange Commission filings.
Actual results may vary materially. The Alberta Stock Exchange neither approves nor disapproves of the information contained herein. |
