NEWS - - Chinchaga survey results - - Marum Resources Inc. (MMU)
Shares issued 20,925,116 May 25 close $0.16
Tue 26 May 98 News Release
Mr. Richard Boulay reports
The company has received preliminary data from the 200m line spacing
high-resolution aeromagnetic survey flown by Spectra Geoscience in April.
This survey was flown following a drill program conducted by CaribGold
Resources on the Marum/CaribGold Chinchaga diamond exploration joint
venture. The 200m Cranberry survey covers 11 townships. Approximately half
of the survey area covers Marum/CaribGold joint venture land and the other
half covers either Marum 100 per cent land or Marum/Micrex joint venture
land.
To date, Marum has restricted its analysis of the aeromagnetic data to the
100 per cent Marum land and the Marum/Micrex joint venture land covered by
the survey. The survey has confirmed the location of a number of point
targets shown on the regional 600m spacing survey. The new, more detailed
results define new sets of point target patterns that are not related to
cultural objects. Moreover, these target patterns, or clusters, although
some are linear patterns over 8km long, are not related to glacial till
deposits since till is very thin throughout the Chinchaga area. Neither are
they related to stream sediment deposits since most of the patterns cut
across existing drainage networks. Approximately one third of the targets
coincide with slightly elevated topographic mounds.
Preliminary analysis indicates that these targets occur at or near surface
and have geological diameters greater than 200m, but not likely greater
than 800m. Approximately 30 anomalies are compelling because of their shape
and, especially, their power which render them obvious even on unprocessed
preliminary total field intensity maps.
The company has requested that its consultant, Apex Geoscience, immediately
recommend a drilling program for the 100 percent Marum land and the
Marum/Micrex joint venture land on the basis of their analysis of the
high-resolution magnetics and the results of the March drill program on the
Marum/CaribGold joint venture. Marum has not yet received basal till and
core analysis results from the Marum/CaribGold joint venture drill program
conducted in March, however, Apex, the project manager, has advised the
company that results should be available soon.
Field operations in the Chinchaga will begin within one week and will
initially consist of a reconnaissance team responsible for locating and
sampling the areas near certain anomalies. The company's mobile, 1 tpd,
gravity concentrator has been reconfigured for the Chinchaga sampling
program. An 8-foot trommel has been added to the concentrating unit in
order to automate the sampling pre-screening process. Stream sediment and
trench samples will be processed into concentrates in the field. The
objective of the sampling program is to gather geochemical data near
selected anomalies and to sample nearby cretaceous-age beach deposits for
concentrations of indicator minerals and diamond.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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