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FOR FURTHER INFORMATION PLEASE CONTACT:
Jilbey Exploration Ltd.
Mr. Daniel Whittaker
President
(902) 422-0028
(902) 422-4564 (FAX)
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: JILBEY EXPLORATION LTD.
ME SYMBOL: JLB
APRIL 9, 1998
Jilbey Exploration Ltd. - Assay Results
HALIFAX, NOVA SCOTIA--Jilbey Exploration Ltd. ("Jilbey") is
pleased to report that assay results have been received from the
recently completed phase 4 drilling program at its 50 percent
owned Hungry Hill base metal project in Central Newfoundland,
Canada. Celtic Minerals Ltd. ("Celtic") is operating the Hungry
Hill project and owns the other 50 percent.
A total of five holes and 1736 metres of drilling tested areas
along strike and down dip of an intercept in hole no.16. Hole
no.16 was completed in December 1997, and assayed 4.00 metres of
4.99 percent zinc, 16.44 g/t silver and 0.85 g/t gold (map
provided upon request).
The most significant results were attained in hole no.22, the
deepest hole to date, which encountered two zones of interest.
Zone one, from 185.65 to 256.60 metres, was characterized by
altered polylithic volcanic breccia and litharenite locally
hosting massive base metal clasts up to 4 centimetres in diameter
containing chalcopyrite, sphalerite, and galena. Zone two, from
296.76 to 306.36 metres, encountered massive sulphides within
altered rhyolite breccia that assayed as follows:
/T/
Hole 22 Intercept
From To Length Copper (percent)
(metres) (metres) (metres)
_________________________________________________________
296.76 306.36 9.60 Anomalous
Including
301.00 302.00 1.00 1.07
304.03 305.50 1.47 Anomalous
Lead (percent) Zinc (percent) Gold g/t Silver g/t
__________________________________________________________
Anomalous Anomalous 0.57 39.22
Anomalous Anomalous 0.35 28.93
Anomalous 2.53 0.79 84.32
/T/
Hole numbers 18, 19, and 20 tested areas within 50 metres down dip
and along strike from the zone in hole number 16. Favourable
altered massive rhyolite and rhyolite breccia was present, however
the mineralized zone has been offset by a fault. Hole number 21
tested a gap in the drilling between holes 5 and 11 and
encountered a thick package from 181.77 to 245.76 metres of
altered rhyolite breccia with strongly anomalous base and precious
metals. Although this program failed to extend the mineralized
zone encountered in hole no.16, it is suspected that the faulting
has not disrupted the zone to a large extent.
Encouraging base metal mineralization was encountered in hole
no.22, the deepest to date, however it did not explain a large
off- hole pulse EM conductor identified during a survey in January
(press release dated January 30, 1998). The presence of massive
sulphides and massive base metal clasts in two separate zones make
hole no.22 a candidate for a down-hole pulse EM survey.
Celtic and Jilbey management are further encouraged by these
results and have contracted the services of Dr. J.G. Thurlow of
V.M.S. Consultants Inc. to compile all data received to date and
to recommend targets for the next phase of drilling. It is
anticipated the compilation work will be completed by the end of
Spring break up, and upon receipt of the V.M.S. Consultants
report, preparations will be made for drilling. These
preparations will include further defining the target location of
the unexplained large pulse EM conductor and performing down hole
pulse EM on hole no.22.
-30-
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