News Release: JD drilling to start
Antares Mining and Exploration Corp ANZ
Shares issued 18,992,219 May 20 close $0.30
Thu 21 May 98 News Release
See AGC Americas Gold Corp (AGA) News Release
Mr. Donald Nicholson reports The notice of work filed March 25, 1998 for the 1998 exploration season on the JD property has been approved by regulatory authorities of B.C. A drill contract has now been awarded.
Weather permitting, plans call for mobilization to the drill site on the Creek zone the week of May 25, with drilling to begin the week of June 1, 1998.
The priority for the 1998 program will be the Creek zone. The goal is to duplicate values found in the discovery hole CZ97-98 and further delineate the style and type of mineralization.
This hole assayed an average of .156 oz/ton gold over 283 feet and included a high grade (3.016 oz/ton Au, 2.69 oz/ton Ag, 1.34 per cent Cu, 0.46 per cent Pb, and 11.7 per cent Zn), 13 foot wide zone.
Geophysical and geochemical anomalies indicate that the zone extends approximately 2,310 feet and could be much longer.
It is anticipated that the joint venture will spend $1.5-million on the 1998 drill season, which will be financed by Antares Mining. On completion of the 1998 exploration program, Antares will have earned a 55 per cent interest in the property, AGC will own 45 per cent.
Antares is the operator of the project.
Americas Gold's application for advanced board status has been accepted and approved. Advanced board status entitles AGC to simplified filing requirements and more flexibility regarding market making activities. |
