From Stockhouse...
ALLIANCE PACIFIC GOLD CORP. (APG)
..A Diamond In The Rough
A full edition of this NewsBlast can be seen at:
stockhouse.com
February 22, 1998
Dear Investor:
During the past year, Alliance Pacific Gold Corp. continued to expand
its asset base through the acquisition of new properties and to enter into
joint venture agreements with major companies. Alliance Pacific Gold
Corp. has joint ventured projects with Cyprus Canada Ltd. and Teck
Exploration Ltd. in the Yukon Territory and the Philippines, respectively.
These projects are optioned for a total work commitment of more than
CAN$18 million. The Company is in the final stage of negotiation with
several other companies for joint venture activities in the Philippines and
Indonesia. This confirms the quality of the properties being sought by the
Company and enables the Company to further expand its asset base
through the development of these properties.
Our Buduk Gold Deposit, Indonesia, continues to be very exciting.
The project now has a gold resource in the order of 1.2 million ounces,
with a 100,000 ounce surface oxide deposit.
Yukon Territory, Canada.
Cyprus Canada Inc. continues exploration, as
our joint venture partner on all of our large porphyry gold properties in
the Yukon Territory.
The Plata-Inca Property is a well-known, gold-rich, silver deposit located
in the Mayo Mining District, Yukon Territory. The exploration program at
Plata Mine is underway and drilling should commence within a week.
The Philippines Projects.
In August 1997, the Company announced the
acquisition of four new properties in the Philippines.
Lobo/Boneng. This copper gold deposit is currently being reviewed by a
number of major mining companies which may enter into a joint venture
agreement with Alliance on the development of the deposit.
Kilong-Olao and Bayosen. These properties are exposed porphyry copper
deposits located in Abra Province. Both were last explored (only for copper)
in the early 1970's.
Malitao is copper-zinc-gold massive sulphide occurring above unroofed
dioritic intrusives, which in turn, possibly hosts largely intact porphyry
copper-gold deposits
The Mayantoc copper-gold prospect is a highly altered Au-Cu mineralized
diorite intrusive over a kilometer across intruding andesitic to basaltic
volcanics.
Russia.
Alliance maintains the rights to earn 25% of Jalna Mining Corp.'s
Golden Kolyma project, located in the Magadan district, Northeastern
Russia. The region has been well explored over many years and the
resulting geological information is extensive.
Mal'dyak is a well-known deposit in the Magadan region. For almost 60
years, placer gold mining has been the main industry in the area
Dubach Property. The deposit belongs to the gold-rare
metals (Ag, Bi, W, Te, etc.) formation.
Tokhto Deposit. The presence of auriferous quartz on the Tokhto Deposit
was first reported in 1951.
Sluchainyi Property. Gold placers are widely distributed throughout the
Sluchainyi tectonic area.
Rassokha Property covers an area of 6,900 km2. The first studies about the
gold potential of the area were obtained as a results of the geologic
reconnaissance carried out in 1947.
Please feel free to review our full, four page corporate update at
stockhouse.com . Also, please visit our web site
at auroweb.com.
Brian A. Lueck, P. Geo.
President
#1950- 400 Burrard Street, Vancouver, BC, V6C 3A6
Tel: 1 (604) 681-2393;
Toll-free: 1 (888) 646-9922
Fax: 1 (604) 681-4369
Web-site: auroweb.com
E-Mail: alliance@auroweb.com
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