NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BLUE RIBBON RESOURCES LTD.
VSE SYMBOL: BLO
OCTOBER 16, 1996
Blue Ribbon - Drilling and Sampling Results
VANCOUVER, BRITISH COLUMBIA--Blue Ribbon Resources is pleased to
report results from the first three of 17 shallow, auger drill
holes testing gold in vein mineralization on its Dijon concession
in Suriname, northeast South America. The Mustard vein system
was discovered by trenching of a 2,300 x 1,500 metre cluster of
gold-in- soil anomalies associated with a northwest trending fault
zone cutting Proterozoic aged Paramaka Formation volcanic and
sedimentary rocks. The first auger hole, D-1, returned 7.5 m of
3.9 g/t gold from the surface, which included 1 m of 12.1 g/t from
6-7 metres. Auger holes D-2 and D-3, testing the down-dip
extension of the D-1, encountered bedrock and were therefore
unable to reach their target depths. Seven of the remaining 14
auger holes reached their target depth and results of this
sampling will be released as it becomes available. The Company is
encouraged by the initial sample results and their proximity to
bedrock. Blue Ribbon plans to follow-up the auger results with a
program of additional drilling.
On the separate Toeboeka concession, also in Suriname, preliminary
results of an ongoing soil sampling program include up to 1,700
ppb gold and indicate two east-west trending anomalous zones of up
to 600 metres length. The east-west trend of the anomalies is
consistent with both the orientation of quartz veining located in
Blue Ribbon's concession and the reported trend of the gold
mineralization located by Golden Star Resources on its adjacent
Saramacca concession. To date Blue Ribbon has collected more than
800 of a planned 2,500 soil samples from the Toeboeka concession.
The ongoing program will include in-fill soil sampling of the
newly established trends which will be followed by auger drilling
to test the anomalies.
Blue Ribbon is a natural resource company that has been exploring
a series of Suriname concessions since 1994. The current programs
will be used to target areas for resource definition programs in
1997.
ON BEHALF OF THE BOARD OF DIRECTORS
Jack DiMarchi, President
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FOR FURTHER INFORMATION PLEASE CONTACT:
Martyn Element & Associates
1-800-505-5655
(604) 687-6820
(604) 687-6328 (FAX)
E-MAIL: element@info-mine.com
INTERNET: info-mine.com
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy of the content of this news
release.
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Best of Luck,
Ross |
