NEWSY RELEASE
________________ MARUM RESOURCES INC. __________________
marumresources.com
FOR IMMEDIATE RELEASE
News Release # 98-04 SEC 12g(3) Exemption 82-4100
ASE Trading Symbol "MMU" Standard & Poor's Manual Listing
GEOPHYSICAL RESULTS - CHINCHAGA DIAMOND PROJECT
May 26, 1998 -- Marum Resources Inc. reports that it has received
preliminary data from the 200-metre line spacing high-resolution
aeromagnetic survey flown by Spectra Geoscience in April. This
survey was flown following a drill program conducted by CaribGold
Resources Inc. on the Marum/CaribGold Chinchaga diamond exploration
joint venture.
The 200-metre "Cranberry" survey covers approximately 11 townships.
Approximately half of the survey area covers Marum/CaribGold joint
venture land and the other half covers either Marum 100% land or
Marum/Micrex joint venture land.
To date, Marum has restricted its analysis of the aeromagnetic data
to the 100% 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 600 metre spacing
survey. The new, more detailed results define several 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 200 metres, but
not likely greater than 800 metres. 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.
Marum has requested that its consultant, APEX Geoscience immediately
recommend a drilling program for the 100% 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 commence within one week and
will initially consist of a reconnaissance team responsible for
locating and sampling the areas near certain anomalies. Marum's
mobile, 1 ton per day, 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
president@marumresources.com
The information contained herein has neither been approved nor
disapproved by The Alberta Stock Exhcnage |
