well, here are some results ... press release ...
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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 - Oct 1, 1998
Diamond Drill Results
Kenrich Mining Corporation ("Kenrich") is pleased to announce diamond drill results from Prime Resources Group Inc./Homestake Canada Inc. 1998 exploration program on the PRU Block of the Corey Property.
Homestake Canada Inc., on behalf of Prime Resources Group Inc. drilled four holes on the Cumberland South area, totaling 4,140 feet.
The best mineralization was encountered in the last hole, PRU 98-04 where a 40 cm (1.3 feet) interval from 90.55m to 90.95m returned a value of 1735 grams/tonne (50.61 oz/ton) of silver.
Expenditures on the PRU Block from January 1st to August 31st 1998 totaled $725,000, bringing total expenditures for the 1997 and 1998 programs to $1,206,000. It is expected that a further $250,000 will be required to complete"this years program which includes funds for further analysis and detailed interpretation of drill results. The diamond drilling completes the 1998 field program on the PRU Block for Prime/Homestake. Plans for the 1999 field season will be released when made available to Kenrich.
Prime has informed Kenrich that it will exercise warrants to purchase approximately 187,000 common flow-through shares of Kenrich Mining Corporation at a price of $1.34 per share. The proceeds will be used to fund the Prime/Homestake exploration program for the balance of 1998, as per the Prime/Kenrich agreement of August 1st 1997.
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
For Further Information Contact Investor Relations:
Marie Antoinette Shields
Direct Line: 604-682-2428
Toll Free: 1-888-805-3940
Direct Fax: 604-682-3615 |
