To Graham and everyone following BLO, here's their latest release...
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BLUE RIBBON RESOURCES LTD.
VSE SYMBOL: BLO
NOVEMBER 22, 1996
Blue Ribbon Suriname Exploration Update
VANCOUVER, BRITISH COLUMBIA--Blue Ribbon Resources Ltd. currently
has exploration crews active on three of their six concessions in
Suriname, including Toeboeka, Lawa and Oelemari. On the Toeboeka
concession, soil sampling crews have now collected 1,500 of a
planned 1,700 soil samples from a grid area measuring 3 by 7 km.
Preliminary geochemical results for soils include gold values as
high as 1.7 g/t gold. Collectively, a large number of samples
with elevated gold values define a circular feature that measures
1.6 km in diameter with elevated gold values concentrated along
the margin of the feature. Company geologists presently interpret
the feature to represent gold mineralization along the margin of a
felsic intrusion. In addition, many other elevated gold values
define several northeast linear trends.
On the 20,000 hectare Oelemari concession reconnaissance crews
have initiated pan concentrate sampling as the first step toward
on overall evaluation, and are already generating very encouraging
results. Visible gold has been identified in 20 pan concentrate
samples representing six separate drainage basins in the northwest
portion of the concession. This appears to be significant new
development because gold had not been previously known to occur
here. The Company acquired the concession earlier this year
primarily on the basis of the geology which included a large area
of prospective volcanic rocks. The sampling crew is now expanding
their pan concentrate sampling efforts into the central portion of
the concession. The anomalous areas already identified will be
the subject of grid-based soil sampling in the near future.
Soil sampling crews are also active on the 18,200 hectare Lawa
concession, located in the northern Benzdorp area. To date the
crews have collected more than 300 soil samples of the planned
2,500 samples which will target the volcanic belt that transects
the concession. The crews will also use pan concentrate sampling
to test the concession for diamond indicator minerals. Alluvial
diamonds are reported from Assiei Creek which crosses the
southeast corner of the concession. Geochemical results are
pending. Historically, more than 500,000 oz. of placer gold have
been produced from the Benzdorp area. Canarc and Golden Star
Resources also have large land positions in the area and are
actively exploring. Golden Star recently reported encouraging
results from their Antino prospect which lends technical merit to
the lode potential of the entire Benzdorp area. The volcanic belt
that is generally considered to have the highest potential runs
through the entire Benzdorp area including our Lawa concession.
Blue Ribbon is a natural resource company that has been exploring
a series of Suriname concessions since 1994. The current programs
will be used to target areas for resource definition programs in
1997.
ON BEHALF OF THE BOARD OF DIRECTORS
Jack DiMarchi, President
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FOR FURTHER INFORMATION PLEASE CONTACT:
Martyn Element & Associates
1-800-505-5655
(604) 687-6820
(604) 687-6328 (FAX)
INTERNET: info-mine.com
E-MAIL: element@info-mine.com
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