WHAT A RELEASE from NNE !!!!!!
Naneco Minerals Ltd -
Jiawula drilling results
Naneco Minerals Ltd
NNE
Shares issued 14,009,496
1998-08-19 close $0.38
Thursday Aug 20 1998
Mr. Archie Nesbitt reports
Confirmation and exploration drilling on the company's Jiawula
zinc-silver-lead-copper deposit in Nei Mongolia, China, has verified the presence of
massive to semi-massive sulphides within a strongly mineralized zone 1.8 kilometres
in length. Core hole J-98-1, drilled on line 12-14 to a depth of 177.2 metres,
intercepted 17.1 metres (56.1 ft) grading 5.01 ounces per ton (171.6 g/t) silver, 0.21
per cent copper, 6.91 per cent lead, and 4.14 per cent zinc. Of particular
significance is the 3.5m (11.5 ft) interval from 149.0m to 152.5m with weighted
averages of 439.3 g/t silver, 0.64 per cent copper, and 25.0 per cent combined
lead-zinc.
The highest grade intervals in hole J-98-1 listed below are contained within the
referenced 17.1m interval at depths from 140.3m to 157.4m.
Intercept Ag Cu Pb Zn
m g/t % % %
143.3-143.9 443.0 0.35 17.65 8.78
143.9-144.7 329.5 0.2 9.18 7.47
144.7-145.3 100.0 0.11 4.07 6.68
2.0 294.7 0.218 10.2 7.63
149.0-150.0 110.2 0.5 3.88 7.18
150.0-151.0 869.3 0.33 43.61 8.3
151.0-152.0 418.5 0.58 7.61 9.21
152.0-152.5 279.2 1.67 2.73 13.29
3.5 439.3 0.64 16.1 8.95
153.8-154.4 490.9 0.43 30.22 9.58
Naneco's current drilling program at Jiawula is confirming and upgrading results
from previous drilling completed by China National Nonferrous Metal Corporation.
CNNC's drilling intercepted significant combined lead, zinc, copper and silver
mineralization, on average, over widths varying from 2 to 14 metres. CNNC's
drilling indicates a measured resource of 5,168,000 tons at 0.46 per cent Cu, 3.38
per cent Pb, 5.7 per cent Zn, and 140.8 g/t Ag. Naneco's technical staff believes
that this resource will substantially increase with additional exploration of the
deposit. This deposit is only one of 40 mineralized zones in Naneco's 700 sq km area
of interest in the Jiawula district which has been extensively explored to date.
Core drilling by two drill rigs is currently active across the mineralized zone and
along an established 1.8km strike length. Core drilling samples are regularly shipped
to ITS in Vancouver, British Columbia, for sample preparation and analyses.
Naneco has a qualified team of North American and Chinese geologists on site
managing the drill program and is completing assay retrieval, database management
and geologic modeling in its corporate exploration office. |
