David and All:
ITG Press Release-Riyadh Drill Results
International Tournigan Corporation-ITG
Shares Issued 9,634,730 November 5, close $2.60 Canadian
News Release
Wed Nov 6th 96
A.E. Ted Daem reports:
The Company has received results from the recent drilling program on its Riyadh concession, on the Kumasi Basin on the gold belt between Prestea to the south and Ashanti to the north in the Western Province of Ghana.
DDH No./ Interval(M) / Length(FT) / AU(OZ/T)
TDR35 / 104.90-109.00 / 13.45 / 0.36
incl / 2.95 / 2.00
TDR36 / 144.80-145.80 / 3.28 / 0.15
TDR37 / 106.80-108.02 / 4.00 / 0.06
TDR38 / 143.30-144.80 / 4.92 / 0.34
TDR39 / 120.30-121.80 / 4.92 / 0.95
TDR40 / 159.00-161.80 / 9.19 / 0.34
TDR41 / 153.77-155.80 / 6.66 / 0.21
TDR42 / 217.80-218.80 / 3.28 / 0.16
TDR43 / 82.08- 84.80 / 6.30 / 0.03
TDR44 / 55.80- 56.80 / 3.28 / 0.12
TDR45 / 110.45-112.80 / 7.71 / 0.36
Incl / / 4.43 / 0.48
All holes were drilled over a 125m strike length on the 5050 zone of the R reef which has significant drill tested grades and widths over the whole 400m strike length. Significant gold values extend into the wall rocks on either side of the reef.
The 3750 zone which is 800m futher west along strike consisting of parallel quartz veins will be the next drill target with 12 initial drill holes. Drilling on this zone will begin as soon as the replacement drill crew arrives on site in mid November. The R5850 zone is 500m to the east of R5050 and extends for 300m along strike. Soil assays from the western portion of the grid south of the Pampe were encouraging indicating three new areas of anomalous gold values.
The potential at depth has yet to be tested, but other mines in the same belt are mining at depths of over 1,500 metres.
At the Diangounte project in the Republic of Mali the dry season has begun and the burn off is now nearing an end. The company's crews are back in the field and have begun the surface exploration program. A track mounted reverse circulation drill rig together with a rebuilt D6 dozer are being shipped to Mali. The drilling program will consist of 300 100m holes, to explore the four major anomalies that have been identified on the property.
and a further release from ITG today:
International Tournigan Corporation-News Release
Drill Program Continues, Riyadh Property, Ghana
Wednesday November 20, 1996 Nov 19 Close $3.00 Canadian
Mr. A.E. Ted Daem reports:
Continuation of the drill program on the Riyadh property in Ghana, West Africa, started November 19, 1996. New Roads and 15 drill pads have been constructed. This is the second phase of a 50,000 foot drill program. Results will be released immediately upon receipt.
Drilling equipment and a complete field camp have been acquired and are in the process of being shipped to the Diangounte property in Mali, West Africa. The 100,000 foot drill program in Mali is scheduled to begin in early 1997....end press release....
Some thoughts...
Mali and Ghana are very remote, hot, wet countries and it takes time, money, and patience to develop the properties there. Tournigan has drilled now 33 holes in five months, if my math is correct, thats roughly a hole every 5 days....and every core has contained gold. These are the results from a couple of 8 potential veins. Then add to this the potential of the Mail property...You be the judge.
Just an aside:
All of the information in my responses is for informational purposes only, and is believed to be from reliable sources. This is neither an offer to sell, nor an offer of solicitation on any of the securities mentioned. If I should happen to make a mis-print, though I try very hard not to, I'm a lousy typist,...I'm not responsible, and I may be long or short the securities at any given time. |
