chooch:
found this news on the amt websight, does not seem to be released on
the wire services that i can see
Mining Corporation
NEWS RELEASE
November 11, 1996
TSE Symbol: AAI
AMTS' Arizona Copper Resources And Reserves Expand To 3 Billion
Pounds
Toronto, Ont. - AMT International Mining Corporation has expanded its copper resources and
reserves at its Arizona properties by 50 percent, from 2 billion pounds to 3 billion pounds of
copper.
The expanded copper resources and reserves come from the assay results of 61 diamond drill
holes and 45 reverse circulation holes recently completed on the company's Childs-Aldwinkle,
Creek and Old Reliable deposits and from a resource estimate of north Copper Creek, a
contiguous property recently acquired from Phelps Dodge.
The copper resources and reserves are all situated a few hundred feet from each other. AMT
previously announced a mineral resource of 2 billion pounds of copper at its Arizona properties in
its initial public offering prospectus last spring. AMT's copper-bearing properties are situated 45
miles north of Tucson.
"The phase 1 drilling program has confirmed that the Childs-Aldwinkle, Creek and Old Reliable
breccia systems are mineable resources," said AMT President and CEO, Dr. Kushal H. Singh.
"All three deposits remain open at depth," said Dr. Singh. "Mine planning, reserve estimates and
engineering studies are in progress to complete the feasibility study under the AMT-BHP Copper
joint venture agreement."
Drilling is continuing on the project and the company says it expects to continue expanding and
enhancing reserves at its Copper Creek Property.
Million Tons
Copper Grade
(Percent)
Contained Copper
(Million Pounds)
Nov '96
March '96
Nov '96
March '96
Nov '96
March '96
Leachable Deposits
8
(6.6)
0.86
(.78)
136
(104)
Shallow Sulphide deposits
40.5
(22)
2.0
(1.67)
1,638
(737)
Deep Sulphide
76.6
(76.6)
0.8
(0.8)
1,226
(1,226)
TOTALS
125.1
(105.2)
1.19
(0.98)
3,000
(2,067)
Numbers in parentheses are as reported in the prospectus
CHILDS-ALDWINKLE BRECCIA SYSTEM:
Drilling and assays have been completed for two additional diamond drill holes in this breccia
system.
Hole
Number
Interception
(Feet)
Interval
(Feet)
Copper
(%)
Molybdenum
(%)
CA-Tech
290-380
90
2.65
0.04
CA-Tech
380-510
130
1.16
0.07
510-560
50
2.69
0.27
560-650
90
2.20
0.42
650-720
70
1.18
0.04
720-780
60
1.70
0.10
34+4A
800-860
60
0.94
0.16
CREEK BRECCIA SYSTEM
Six additional diamond drill holes intersected ore grade intervals in the Creek breccia of the VIX
system. This breccia system appears to be much larger than originally projected. Assays for four
holes are pending. Drill hole 28-2, currently being drilled, has intersected a well mineralized
porphyry system (deep sulphides).
Hole
Number
Interception
(Feet)
Interval
(Feet)
Copper
(%)
32-2
830-990
160
2.83
990-1060
70
0.72
28-1
1120-1190
70
1.70
1190-1250
60
1.00
OLD RELIABLE BRECCIA
Drilling completed on this system to date has confirmed and expanded the mineable resources and
deposits.
Hole
Number
Interception
(Feet)
Interval
(Feet)
Copper
(%)
Molybdenum
(%)
AMT-1
270-305
35
1.42
----
320-360
40
2.42
----
360-400
40
1.15
0.03
440-470
30
1.12
0.06
For further information contact:
Dr. Kushal Singh
Phone: (520) 544-8815 (ext. 21)
FAX : (520) 544-8507
E-mail: AMT1@primenet.com
Or
Toronto Office
AMT International Mining Corporation
26 Wellington Street East, Suite 905
Toronto, Ontario M5E 1S2
Phone: (416) 368-2951
FAX: (416) 350-3799
|
