Here it is:
Subject: JABA News Release
Dear Shareholder/Investor
Per your request to be updated on JABA's activities, the following News
Release was issued today! We appreciate your continued interest in
JABA! Please also remember to visit our web site jaba.com
JABA ANNOUNCES START OF CYPRUS DRILLING ON THE OPATA JOINT VENTURE,
CUMPAS MINING DISTRICT, SONORA, MEXICO
JABA Inc. (ASE-JBA) is pleased to report that Minera Cuicuilco,
S.A. de C.V. (Cyprus), a wholly-owned subsidiary of Cyprus Amax Minerals
Company of Denver, Colorado, has begun reverse-circulation (RC) drilling
at the Opata project, a porphyry copper target held by JABA's 90%-owned
subsidiary Compa¤ia Minera JABA, S.A. de C.V. (JABA). Cyprus and JABA
agreed to terms of a joint venture in early March of this year (See
JABA News Release dated March 6, 1998). The objective of the drilling
is to test the concept that a `porphyry copper deposit' nucleus of the
same size and scale as La Caridad or Cananea lies shallowly buried in an
alluvial-filled down-dropped graben (basin) that cuts a swath between
strongly altered and mineralized border (peripheral) rocks on either
side of the swath. Six hole locations have been permitted by Cyprus,
and 6000 feet of drilling is called for in the joint venture agreement
with JABA. Holes will be of variable depth depending on the thickness
of cover and findings in bedrock. JABA has recommended additional
sites, in part to evaluate characteristics of the peripheral zones and
their alteration-mineralization. The drill results will be released as
soon as practical after completion of drilling and assays, including
confirmation assays if indicated.
Cyprus and JABA have also announced a joint venture in the
Mammoth Wash area near Asarco's Silver Bell mine. Phase One of 6,000
feet of drilling is complete; both companies await assay results and
geologic interpretation from RC cuttings before an announcement is made.
Additionally, JABA awaits drilling startup later in May as part
of a joint venture with Valerie Gold Resources Ltd. on East Silver Bell,
and has several other projects in advanced stages of negotiation for
joint venturing. For further information, please call Jim Alexander at
1-800-863-1551, visit JABA's web site at www.JABA.com, or fax us at
1-520- 327-7450.
On behalf of the Board,
James A. Briscoe
Chief Executive Officer
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein
P.S.- I am heading to 2son, sooner or latter, so someone post this stuff if there is SOME MORE NEWS while I'm away a couple weeks! Take care all... exploration, the final frontier- Jaba daba did it first and finest...twenty something properties! Next year ...some will say...20 something joint ventures! I hope!
Chucabye4nowa |
