THE BEST SO FAR .. with 24 more holes to come
Naneco Minerals Ltd -
Phenomenal assays
Naneco Minerals Ltd
NNE
Shares issued 17,668,496
1998-09-30 close $0.36
Wednesday Sep 30 1998
Calgary, Alberta
Phone (403) 232-6833
Fax (403) 232-6463
Toll free 1-877-2NANECO
(1-877-262-6326)
naneco.com
mailto: miningco@ab.imag.net
NANECO MINERALS ANNOUNCES PHENOMENAL ASSAYS
Continued drilling on NANECO MINERALS LTD.'S Jiawula
zinc-silver-lead-copper deposit in Nei Mongolia, China, has again intercepted
HIGHLY SIGNIFICANT MASSIVE TO SEMI-MASSIVE SULPHIDE
MINERALIZATION within Zone No. 2 in Core Holes J-98-4, J-98-5, J-98-6. Of
particular significance in Hole J-98-4 is the 10.0 m (32.8 ft) interval from 188.0 m to
198.0 m with weighted averages 260.0 g/mt Silver, 1.05% Copper, and 19.58%
combined Lead-Zinc.
Additionally, an interval in Hole J-98-5 from 124.6 m to 132 m (24.3 ft) graded
160.52 g/mt Silver, 0.52% Copper, and 19.2% combined Lead-Zinc and a 3.8 m
(12.5 ft) interval in Hole J-98-6 intercepted grades of 240.2 g/mt Silver, 1.07%
Copper, and 22.07% combined Lead-Zinc. The full intercepts and noted intervals
are listed below.
Depth of Silver Copper Lead Zinc
Intercept Values Values Values Values
(metres) g/t % % %
Hole J-98-4
155.95-156.8 224.9 0.37 3.97 17.69
171.60-172.6 6.8 0.01 1.13 1.23
172.60-173.8 14.9 0.07 1.37 1.85
174.20-175.5 38.0 0.06 2.16 4.24
179.10-180.1 9.3 0.02 1.05 0.82
180.10-181.1 22.4 0.08 1.23 2.05
181.10-181.7 6.0 0.02 0.72 0.81
181.70-182.6 124.8 0.11 5.29 7.59
185.25-186.25 128.9 0.36 2.06 5.13
186.25-187.25 79.0 0.35 0.65 4.96
187.25-188.00 4.0 0.03 0.25 0.29
188.00-189.00 194.0 0.47 0.95 20.92
189.00-190.00 110.7 0.39 2.65 12.51
190.00-191.21 320.9 0.57 11.56 27.09
191.21-191.50 24.7 0.04 1.22 1.01
191.50-192.00 115.4 0.42 0.24 21.49
192.00-193.00 117.7 0.58 0.16 20.15
193.00-194.00 248.8 1.49 0.44 16.22
194.00-195.00 479.9 2.55 0.99 7.68
195.00-196.00 462.2 2.20 1.14 10.25
196.00-197.00 349.8 0.97 0.66 19.62
197.00-198.00 183.7 0.95 0.77 22.39
From 188.00-189.00 = 10.00m
259.99 1.05 2.22 17.36
198.00-199.40 17.8 0.08 0.83 2.09
Weighted Average over 22.0m
147.67 0.55 1.94 10.04
Hole J-98-5
124.6 -125.6 159.8 0.69 16.51 11.52
125.6 -126.6 164.5 0.57 14.86 8.5
126.6 -127.6 98.4 0.25 7.16 5.83
127.6 -128.6 200.8 0.3 9.14 7.79
128.6 -129.6 192.1 0.57 3.12 17.99
129.6 -130.6 127.5 0.47 1.69 10.05
130.6 -132.0 174.8 0.71 2.66 17.02
From 124.6-132.0 = 7.4m
160.5 0.52 7.6 11.56
Hole J-98-5 Continued
190.00-191.21 320.9 0.57 11.56 27.09
163.70-164.1 50.3 0.10 0.73 3.07
165.60-166.6 78.6 0.08 0.96 6.0
166.60-167.6 44.0 0.21 0.72 1.12
167.60-168.6 25.4 0.04 1.71 3.67
168.60-169.8 8.0 0.01 0.64 0.86
Weighted average over 12m
113.8 0.35 5.05 8.21
Hole J-98-6
190.00-191.21 320.9 0.57 11.56 27.09
127.50-128.5 68.7 0.10 5.60 2.02
128.50-129.5 32.1 0.13 1.15 1.92
129.50-130.5 165.4 0.21 8.91 10.85
130.50-131.5 78.5 0.13 5.24 9.74
131.50-132.5 20.4 0.05 2.22 1.81
132.50-133.5 22.4 0.10 2.29 2.65
133.50-134.5 101.2 0.17 7.59 4.32
134.50-135.5 118.3 0.16 7.03 5.09
135.50-136.5 70.7 0.09 5.44 3.93
136.50-137.1 100.5 0.20 7.58 6.75
137.1 -138.1 379.2 1.28 2.63 18.58
138.1 -138.55 255.4 1.33 8.16 24.10
138.55-138.9 171.7 0.74 1.67 32.66
138.9 -139.9 260.5 1.22 7.42 12.83
139.9 -140.9 97.9 0.72 1.90 13.98
From 137.1-138.1 = 3.8 m
240.2 1.07 4.26 17.81
140.90-141.9 84.6 0.83 1.25 6.26
141.90-142.9 95.2 0.22 3.98 4.50
142.90-143.9 19.8 0.08 0.70 1.86
143.90-144.6 73.7 0.23 0.95 4.36
Weighted average over 17.1m
111.22 0.39 4.3 7.59
Earlier results from Holes J-98-1, J-98-2, and J-98-3 were as follows:
J-98-1 intercepted a 17.1 meter interval (56.1 ft) grading 171.6 g/mt Silver, 0.21%
Cu, 6.91% Pb, and 4.14% Zn which contained a 3.5m (11.5 ft) interval grading
439.3 g/mt Silver, 0.64% Cu, and 25.0% combined Pb-Zn.
J-98-2 intercepted 2.5 meters (8.2 ft) grading 313.04 g/mt Silver, 0.5% Copper,
15.53% Lead, and 11.56% Zinc.
J-98-3 intercepted 3.0 meters (9.8 ft) grading 191.87 g/mt Silver, 0.34% Copper,
11.82% Lead, and 10.95% Zinc.
Naneco's technical staff continues to be encouraged by both the substantial
thickness and extremely high grades encountered in the confirmation and
exploratory drilling. Naneco's staff further believes these data support the
tremendous potential of the Jiawula district where Naneco holds a 700 sq. km. Area
of Interest. The Jiawula deposit Zone No. 2 currently being tested is only one of
forty identified outcropping zones of silver-copper-lead-zinc mineralization in
Naneco's Area of Interest.
Naneco has completed a total of 30 confirmation and exploration core holes to-date
on Jiawula No. 2 Zone with sample cutting completed on-site and one-half core
samples being shipped to ITS in Vancouver for assaying. The remaining one-half
core is stored at the Jiawula mine site. Assays will be reported as available. Drilling
will continue through 1998 to explore further along the trend of Zone No. 2 and to
expand on the known mining resource.
For further information please contact:
Archie J. Nesbitt, President or
Raju Wani, Corporate Development
Phone (403) 232-6833/ Fax (403) 232-6463
Toll Free 1-877-2NANECO (1-877-262-6326)
Email: miningco@ab.imag.net
Visit Our Website: www.naneco.com
Investor Relations please contact:
Dan Patience of Noble House Investments Inc.
Phone: (403) 262-7111
Toll Free 1-800-499-2388
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