Peter, do you think drilling on this property will be a good starting
point for your anticipated substantial move upward??
Alexander News International Inc -
Zimbabwe property being assessed
Alexander News International Inc
AWS
Shares issued 4593465
1998-05-26 close $0.28
Wednesday May 27 1998
Mr. Donald O'Sullivan reports
The following is an update on the company's Mountain View property in
Zimbabwe. In mid-1997, Alexander Resources retained Watts, Griffis and
McOuat of Toronto to provide an initial assessment of its exploration territories in
the Bindura area of Zimbabwe. WGM was to report, after examining available
data and visiting the properties, on the gold potential and to make
recommendations on an appropriate exploration program to best exploit that
potential.
The initial stages of exploration on the priority targets consisted of simultaneous
geological mapping (of largely unexplored territory) and preparation of
geochemical soil sampling grids to identify anomalous zones, which would be
further investigated. Some earlier regional soil sampling on the Retreat block had
been sufficiently interesting as to have the grid tightened and extended, and soil
sampling was done around Denham 12, a recognized area of mineralization which
had returned trench sampling results of up to 32.6 g/t.
Results to date have:
Confirmed the observations made by WGM on the mineralization of the
Harare-Shamva greenstone belt (which is similar in size and lithologies to the
Southern Cross greenstone belt in Western Australia).
Confirmed and mapped regional shear zones with generalized anastomosing and
splaying geometry which had shown up on satellite interpretation. One such
multiple shear zone system was mapped on a regional grid and extended 4
kilometres x 2 kilometres.
Identified a 4 kilometre x 1 kilometre zone of parallel quartz veining which carries
gold values.
Encountered an area 650 metres x 350 metres on the Denham 12 property
(proven mineralization) where over 30 per cent of the values were anomalous.
Mapped and sampled numerous gold-bearing quartz rubble occurrences in EPO
1016.
A soil sampling grid with 50 metre line spacings and 25 metre sample intervals
was cut and sampled. All sampling was done to bedrock, with a soil cover of
between 0.5 and 3.0 metres being encountered. (This cover had obscured the
veining which outcropped at the bridge.) The grid, so far, has occupied the
northern margin of an east-west shear system surrounding the trenches which had
given the values shown above.
The results have been encouraging, with more than 30 per cent of the samples
registering anomalous values. There has been a concentration of anomalous values
in the southern section of the grid, (with values up to 170 ppb) resulting in the grid
being extended a further 200 metres south. If values persist, the southern limit is
likely to be the Arcturus-Shamvaian contact which is about a kilometre away.
The work carried out so far has been appropriate in relation to the short time scale
involved and the use of local resources and consultants. Research was completed
at an early stage and the correct use of resources applied to cost-effective
assessment of the gold potential of the properties.
The results obtained from trench sampling of known areas of mineralization and
the subsequent data collected from soil sampling anomalies (with values above
background that would create interest in any greenstone belt in the world),
constitute sufficient evidence of gold mineralization on both specific locality and
across the 34,202 hectares of the Bindura properties on a regional basis to
conclude that the area has a high potential for discovery of a substantial gold
resource. It is relevant that the same greenstone belt hosts Freda Rebecca, the
largest mine in the country, which produces in excess of 100,000 ounces per year
at a cash cost of less than $200 (U.S.) per ounce.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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