Press Release for Friday July 17
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KENRICH MINING CORPORATION (VSE - KRC)
STANDARD & POOR'S full manual listing
S.E.C. 12g3-2(b) - 82-2809
20-F-BLUE SKY U.S.A. TRADING APPROVED
Suite 910-510 Burrard Street, Vancouver, British Columbia V6C 3A8
Telephone: (604) 682-0557 Facsimile: (604) 688-3346
NEWS RELEASE -ÿ July 17, 1998
Preliminary Results from Homestake/Prime Exploration on the Corey Property
Kenrich Mining Corporation ("Kenrich") is pleased to announce results from surface exploration work that is ongoing on the 6,000 hectare Prime (PRU) Block of the Kenrich's wholly owned 18,700 hectare Corey Property.
Homestake Canada Inc., on behalf of Prime Resources Group Inc. presently has a 20 man crew conducting geological mapping, surface sampling, and trenching as part of their $10.58 million right to earn a 51% interest in the Prime (PRU) Block. The surface work is oriented towards outlining drill targets within felsic volcanics and mudstones identified on the PRU Block. The geologic setting is similar to that"at Gskay Creek.
The work to date has defined four separate areas within a 400m by 400m section of mudstone and rhyolite breccia which carry anomalous values of gold, silver, arsenic, antimony and mercury. This area continues to be a priority exploration target.
Gold/silver ratios and elevated base metal contents reflect a similar geochemical signature to Eskay Creek and indicate this area as a potential drill target. Mineralization within mudstones appears to be stratiform and disseminated, mineralization within the rhyolite appears to be stockwork-type quartz-sulfide veining. A table of the more significant results from a total of 209 samples follows:
Sample Number Description Au g/t Ag ppm
21102 Grab, Rhyolite tuff breccia 2.20 0.2
21103 Grab, argillite 3.73 3.3
21134 Grab, mudstone, Py 0.35 60.5
22577 Grab, Rhy-bx 10% fg Py , 0.5% Sphal 6.67 344
22582 Grab, Rhy-bx 0.51 to 1 mm bx frag 1.30 25
22578 Grab, Rhy-bx 10-15% Py with qtz-sericite 0.67 18.6
22604 Grab, mudstone contact with rhyolite 0.25 13
21037 Grab, mudstone 0.40 10
21406 0.7m chip, Rhyolite, Py 2% 0.51 30
21407 0.1 m, Rhyolite, fg Py 2% 0.57 26
21408 Grab, Rhyolite, float in place. fg Py 2% 0.30 54.6
21093 Rhy-bx 10-15% Py, 0.5% Ga , 0.5% Cpy 0.79 13.6
With the above indications of mineralization, Kenrich looks forward to the results from Homestake/Prime's drill testing of the Lower Cumberland zone.
Kenrich, as operator of the 12,700 hectare Kenrich (KRC) Block of the Corey Property has been conducting surface exploration work which has been concentrated on the HSOV and Nica 1 areas. Stratiform sulphide mineralization has been found in the mudstones at HSOV. Results from this program will be released when all results have been received and compiled.
On Behalf of the Board of Directors
Kenneth W. Trociuk
President/CEO
FOR ADDITIONAL INFORMATION CONTACT:
KENRICH MINING CORPORATION AT:
DIRECT (604) 682-0557
website: kenrichmining.com
Note: If you have an E-Mail address and would prefer to receive Kenrich's News through this format, please E-Mail us at info@kenrichmining.com.
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