MDIN news ! ********* Friday August 7, 9:29 am Eastern Time
Company Press Release
Alto De Lepangue, Chile: Gordon House P. Geo. identifies a breccia zone
hosting a porphyry style copper/gold deposit
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Aug. 7, 1998--Gordon House,
P.GEO., reported on his pre-feasibility work on two of the 1788
properties Medinah Energy Inc. recently purchased near Santiago Chile.
His work concentrated mainly on the Alto De Lepangue property, formerly
the La Fortuna De Lampa Mine which produced ore averaging 59 grams of
gold and 104.1 grams of silver per ton over an eight year period
commencing in 1946. Old mines and quartz veins are abundant in the Alto
De Lepangue area and carry good values of gold and silver.
On the southwest side of the plateau, adjacent to the Cerro Negro peak,
an area of massive, quartz cemented, breccia was bulldozer trenched.
Sufficient exposure was made to confirm the outcrop as a classic
hydrothermal, diatreme breccia with rounded and altered clasts of
volcanic rock cemented by a matrix of crystalline quartz and sulfide
minerals. Samples taken contain pyrite, chalcopyrite and other sulfides.
There is abundant malachite, azurite and iron oxide in surface rocks.
The soils in the area are anomalous in gold, silver, copper, lead and
molybdenum and samples of the breccia and wall rock showed anomalous
values in gold, copper, silver, zinc and molybdenum. The breccia zone
has the potential to host a porphyry style copper gold deposit.
Mr. House also focused on Las Dos Marias stockworks property which is
reached from the Alto De Lipangue. Mr. House corroborated the previous
findings of Mining Engineer Paul Jones and Dr. of Mining Law, Sr. Juan
Jose Quijano, that the potential exists for a quartz stockworks type
gold deposit.
Mineralization occurs as a series of subparallel mantos or shear zones
carrying brecciated quartz vein material and abundant alteration.
Samples assayed 1.8 and 34 grams per ton of gold. The mantos appear to
be 2 to 4 meters thick and there is much evidence of malachite and
azurite.
The dips and strikes of the mantos on each side of the Quebrada Durazna,
indicate a major structural break or control. The extensive fracturing,
veining and manto structures which contain gold, silver, copper,
molybdenum and zinc mineralization are likely related to the breccia/
porphyry zone of the Alto De Lipangue and are of considerable
significance.
Mr. House is preparing a budget and development plan that will encompass
the following; 1) Puangue and Caren placers; 2) the anticipated hard
rock vat leach potential; 3) development of the Alto De Lipanque copper,
gold breccia
(porphyry); 4) development of the Las Dos Marias gold stockworks.
Note: This news release may contain certain ''forward-looking
statements'' within the meaning of the United States Securities Exchange
Act of 1934, as amended. All statements, other than statements of
historical fact, included in this release, including, without
limitation, statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Medinah Energy
Inc., are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate, and actual results and future could differ materially
from those anticipate in such statements. Important factors that could
cause actual results to differ materially from the Company's
expectations are disclosed under the heading ''Risk Factors'' and
elsewhere in documents filed from time to time with the United States
Securities and Exchange Commission and other regulatory authorities.
On behalf of the Board of Directors
Per: Larry Regis, President
------------------------------------------------------------------------
Contact:
Medinah Energy, Lake Elsinore
Ralph or Alan
Investor Relations
1-888-572-0170
------------------------------------------------------------------------
More Quotes and News:Medinah Energy Inc (OTC BB:MDIN - news)Related News
Categories: mining/metals, oil/energy
------------------------------------------------------------------------
Help
------------------------------------------------------------------------
Copyright c 1998 Business Wire. All rights reserved. All the news
releases provided by Business Wire are copyrighted. Any forms of copying
other than an individual user's personal reference without express
written permission is prohibited. Further distribution of these
materials is strictly forbidden, including but not limited to, posting,
emailing, faxing, archiving ina public database, redistributing via a
computer network or in a printed form.
See our Important |
