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Gold/Mining/Energy : primero resources v.pmi

PMI 1.663

-1.0%

Jan 12 3:59 PM EST

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To: jerry janko who wrote (57)	3/9/1998 3:38:00 PM
From: jerry janko	of 71

From: newsout@canada-stockwatch.com Date: Mon, 09 Mar 1998 11:57:45 -0800 Subject: Stockwatch: Primero Industries Ltd - News Release To: ajanko@erinet.com Exploration update from Peace River and Elektra properties Primero Industries Ltd PMI Shares issued 9,286,448 Mar 6 close $0.20 Mon 9 Mar 98 News Release Mr Jonathan George reports Primero has the right to earn a 50% interest in two claim blocks in the Buffalo Head Hills area of northwestern Alberta: the Peace River property and the Elektra property. Both of these properties were flown with detailed aeromagnetic surveys. The Peace River airborne survey has been interpreted and a number of anomalies were prioritized by the company's geophysical consultants. These results were integrated with satellite imagery as well as digital topography and digital magnetics. The results of the airborne survey on the Elektra property are being interpreted. On the Peace River property, extensive ground truthing of anomalies was completed. Five diamond drill holes totalling 1,492 ft were completed. All holes reached bedrock and overburden depths varied from 77 to 340 ft. Bedrock consisted of similar Smoky group shales in all holes. It seems obvious that the source of the strongest, shallow, magnetic anomalies is within the unconsolidated till and gravel deposits. The airborne magnetic data is being re-evaluated to attempt to filter out the effects of the overburden sheet. Seismic data is also being acquired in selected areas. On the Elektra property, ground truthing of airborne magnetic anomalies by magnetic and resistivity methods will commence as soon as the results of the interpretation of the airborne magnetic surveys have been received. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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