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Gold/Mining/Energy : Mutapa Gold Corporation VSE:MUA
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To: Robert Morris who wrote (16)5/21/1998 7:24:00 PM
From: Kent C.   of 73
 
May 21 - MUA.VSE - Exploration Program "Little Deer"

From SI - Daily News - exchange2000.com;

Mutapa Gold Corporation ("Mutapa") is pleased to announce that their exploration program for Cyprus style massive sulphide deposits in the province of Newfoundland is having a positive start (the "Little Deer project"). The project is comprised of some 389 claims (6404 ha) in the Springdale area that overlie a series of Ophiolitic volcanic rocks called the Lushs Bight group.

The program is focused in the area of a known deposit called the Little Deer mine that was partially developed as a secondary deposit from the Whalesback Mine. Mutapa had successfully delineated a strong, deep conductor parallel to, but 75m south of the Little Deer mine workings. Geological research had shown that a deep hole (Brinex hole 135) drilled in 1967 to explore under the Little Deer deposit had cut the top of this deep conductor. The hole contained some 7 m of 5% copper. No assays were done for gold, silver or zinc, all of which are associated with the Little Deer. This strong, deep conductor has been traced for 1.5 km by surface geophysics and is referred to as the "135" zone. The Little Deer workings are at the eastern end where "135" zone projects to surface.

Mutapa Hole 98-1 which was commenced on May 11, 1998 to test this "135" zone has intersected a true width of 22 m of mineralized horizon 30 m beneath the 1967 intersection. Assays are pending.

Mutapa is pleased to announce that deep penetrating down hole pulse electromagnetic surveying (PEM) indicates that the "135" zone continues to depth. Moreover a strong off-hole response has also been detected that suggests the presence of a new potential mineral zone parallel to and 50 m from the "135" zone. Diamond drill hole 98-2 is underway and has been designed to cut the new parallel zone and also intersect the down dip extension of the 22 m of mineralization in Mutapa hole 98-1.

The central part of Newfoundland has a strong mining history. The Lushs Bight group of rocks lie between the famous Buchans Mine to the south which produced some 17 million tons of base metal ore and the Tilt Cove Mine to the north that produced some 9 million tons. Also the Rambler Mine, 8 million tons, the Whalesback, 4 million tons and the Little Bay Mine, 3.5 million tons, are in close proximity to Mutapa's Little Deer project.

ON BEHALF OF THE BOARD OF DIRECTORS

David L. Cook, P.Eng
Director

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
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