NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BAND-ORE RESOURCES LTD.
S.E.C. EXEMPTION No. 82-4233 SHARES: 22.9 MILLION
TSE SYMBOL: BAN
FEBRUARY 25, 1998
Band-Ore Resources Ltd. Timmins Update
TORONTO, ONTARIO--
PGE PROJECT
Band-Ore Resources Ltd. wishes to announce the completion of an
airborne geophysical survey and two geological information drill
holes on the Company's 100 percent owned Windward Property. The
project is located in Nordica and McEvay Townships southeast of
Timmins, Ontario. Earlier this year the Company announced assay
results from a surface sampling program on an outcrop exposure
that included values of copper, nickel, and 1.4 g/t platinum group
elements (PGE). Additional sampling results in the area of the
outcrop have yielded values, from several samples, of up to 20
percent chromite in addition to anomalous PGE's.
One diamond drill hole only has been completed in the area of the
outcrop. This drill hole intersected a 7 metre zone of sulphide
mineralization consisting of disseminated chalcopyrite,
pyrrhotite, magnetite and chromite. This type of mineralization
is consistent with the location of PGE's in mafic and ultramafic
rocks such as the Stillwater Complex in Montana. The drill core
has been split and complete assay results are expected within two
to three weeks.
Diamond drilling is expected to commence following the receipt of
assay results and a thorough evaluation of the geophysical survey.
GOLD PROJECT
Deep diamond drilling has commenced on the Golden River West Zone
to test for the down plunge extension of the hangingwall and
footwall zones of gold mineralization. To date diamond drilling
has outlined an inferred resource of 440,000 troy ounces of gold
to a vertical depth of approximately 300m. The resource
calculation covers a strike length of less than 15 percent of a
deformation zone that has an indicated strike length of more than
6.5 km on the Company's 100 percent owned property. The Thorne
Property is located in Thorneloe and Denton Townships, about 15km
west of the Timmins, Ontario mining camp.
THE PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD. WHICH
ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY
AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Band-Ore Resources Ltd.
Jonathan Armes
Manager, Investor Relations
(416) 365-0811 |
