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Gold/Mining/Energy : Mutapa Gold Corporation VSE:MUA

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To: Thomas Benjamin who wrote (33)	5/28/1998 11:43:00 PM
From: Intrepid1	Read Replies (1) of 73

News Release: Second drill hole hits mineralized intersection! Mutapa Gold Corporation Thursday, May 28, 1998 DDH LD 98-2 Completed And LD98-3 Underway Mutapa Gold Corporation ("Mutapa") is pleased to report that the second drill hole of the Little Deer project has been completed successfully to a total depth of 500m. This hole has intersected the VMS horizon at a depth of 80m vertically below the previously reported mineralized interval in DDH LD98-1 (depth from surface 350m). DDH LD98-2 contained a wide zone of alteration and mineralization from 395m - 474m (79m). This is a true width of 48m. In the upper hanging wall part of the zone, a 19m wide zone contained banded sulphide mineralization and has been sent for assay. A second zone of mineralization, 9m wide, was intersected near the footwall and has also been sent for assay. It appears that the zone is following a synform model and is widening as it plunges to depth (the limb of a fold typically thickens as it approaches its axis). The results of the first two holes are indicating the potential for an extensive zone of massive sulphides coincident with a 1.5km long, 8 channel, deep pulse electromagnetic (PEM) conductor. Frontier Geosciences Inc. has now completed analysis of the downhole PEM probe results. Mr. Cliff Candy, P. Geo. reports, "In summary, the pulse EM coverage of DDH LD98-1 and LD98-2 shows the presence of strong intersected responses indicative of substantial down dip continuation of the previously known conductive mineralization and further potential for additional zones in the vicinity of these drillholes." ON BEHALF OF THE BOARD OF DIRECTORS ________________________________ David L. Cook, P.Eng Director c 1998 StockHouse Online Journal \| Disclaimer

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