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Gold/Mining/Energy : East West Res.

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To: Buckey who wrote (220)	5/20/1998 3:55:00 PM
From: Flea	Read Replies (1) of 253

East West Resource Corp - Sewell Township program to resume East West Resource Corp EWR Shares issued 23549921 1998-05-19 close $0.22 Wednesday May 20 1998 Mr. A.K. Crossley reports East West is proceeding with the next phase of follow-up work on an important platinum-palladium-nickel-copper sulphide zone in Sewell Township 35 miles southwest of Timmins, Ontario, as well as continuing to explore an extensive gold bearing structure to the west in Reeves Township. The Pt-Pd-Ni zone is on the east end of the Cross Lake Minerals 220 claims option whereas the gold zone extends from the west end of the Cross Lake option in Reeves Township onto the 100 per cent owned 139 claims unit group in Reeves. East West has informed Cross Lake that it intends to continue the option and will proceed to the next phase of work which will involve extending the geophysical grid to the south of the sulphide intersection into the thickened bulbous shaped 1.2km wide ultramafic body. The sulphide zone occurs at a particular, vertically dipping contact of two layers within and near the base of the ultramafic body and the potential exists for this horizon to extend southward for over 1km into the thicker part of the ultramafic where larger accumulations of sulphides would be expected to occur. The original Pt-Pd-Ni-Cu showing on surface contained up to 2 per cent Ni and 1 gm Pt and 1 gm Pd associated with fine grained disseminated pentlandite (Ni sulphide) and chalcopyrite (Cu sulphide). This showing has been traced for 400m by IP and the anomaly is open to the south, hence IP-magnetics will be the first work to be done in tracing the surface expression of the sulphide zone. Drill hole values up to 1.7 gm Pd, 0.9 gm Pt and 1.36 per cent Ni over one metre were obtained in a stringer sulphide zone. Mise-a-la-masse resistivity surveys have traced this conductive sulphide zone southward for 400m, hence further step-out drilling to the south is already warranted. The potential for this sulphide body to reach important dimensions exists because of the size and shape of the ultramafic host, which is similar to that in to other known major Ni-Cu deposits. The large land position covers a series of shear zones that are interpreted to be extensions of the major gold bearing structures in the Timmins - Porcupine gold camp. These shears have been recognized on the property in limited outcrops where extensive iron carbonate-sericite-pyrite-quartz zones have been observed. Grab samples in one exposure yielded up to 0.15 ounces/ton gold. This particular structure has been traced by the IP surveys this winter for over 4km onto the Cross Lake option claims in Reeves from the outcrop on the 100 per cent owned East West claims to the west. The geological setting and geophysical signature is similar to the Bell Creek, North zone and Marlhill area on the northeast part of the Porcupine camp now operated by Kinross Gold. Immediate drill targets with good road access are available. Existing infrastructure in the area makes exploration less expensive, more effective, and further development more practical.

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