Hi Kieth,
EPAR drill results and info.
internetstockmarket.com
internetstockmarket.com
-http://www.internetstockmarket.com/press/epar/980130.html-----------------------------------------------------------------------
Positive Drill Results Lead to Joint Venture Negotiations
CLEARWATER, Fla.--(BUSINESS WIRE)--Jan. 30, 1998--European American Resources (OTC BB:EPAR - news) announced drill results from its recent drill program on one of the company's premiere properties, Prospect Mountain.
The Property is located in Eureka County just outside the town of Eureka on the Battle Mountain Eureka Trend. This prolific gold bearing trend plays host to some of today's great deposits, such as the Archimedes and Pipeline. More specifically, the company's current project Prospect Mountain, lies just south of Homestakes Archimedes by less than two miles. A number of leading geologists familiar with various trend structures in Nevada believe that the Battle Mountain Eureka Trend may very well possess gold deposits that will one day equal or surpass the great Carlin Trend.
The company's positive drill results have led them into discussions with a select group of senior mining companies currently producing gold in Nevada. Although specific terms relative to any joint venture agreement have not been discussed at this time, the company is confident a joint venture exploration investment of 5 million USD is a very attainable goal based on the impressive drilling results already achieved.
The companies metallurgical tests results which were taken from over 50,000 tons of high grade ore previously mined have proven recoveries as high as 92%. By today's industry standards, it is economically feasible to mine gold at an average of .025 ounces of gold per ton. As shown in the table below the Phase 1 drill program produced considerably higher results.
1997 Prospect Mountain Drill Program Results
HOLE NO. FOOTAGE LENGTH OPT GOLD OPT SILVER
PM-W-09 0115-130 015' 0.300 0.410
PM-W-11 0000-050 050' 0.119 1.740
PM-W-12 0000-065 065' 0.140 1.080
PM-W-12 0175-190 020' 0.030 0.40
PM-W-13 0000-070 070' 0.075 0.999
PM-W-14 0160-175 015' 0.081 1.110
PM-W-20 0270-285 015' 0.082 1.390
PM-W-25 0285-300 015' 0.054 1.640
PM-W-36 0120-145 015' 0.059 0.400
PM-W-37 0105-140 035' 0.053 0.828
PM-W-37 0105-140 030' 0.053 0.828
PM-W-38 0190-255 065' 0.020 0.632
PM-W-38 0270-285 015' 0.029 0.993
PM-W-39 0225-230 050' 0.119 0.850
PM-W-42 0000-025 025' 0.038 0.996
PM-W-50 0020-075 040' 0.142 2.130
PM-W-51 0115-130 015' 0.068 2.140
PM-W-52 0335-365 030' 0.140 0.312
PM-W-53 0135-145 010' 0.034 0.610
PM-W-55 0320-360 040' 0.159 0.079
PM-W-55 0250-265 015' 0.202 5.540
PM-W-62 0300-325 025' 0.042 0.057
PM-W-63 0120-130 010' 0.027 0.230
PM-W-68 0135-140 005' 0.054 0.940
PM-W-73 0010-060 050' 0.028 0.510
PM-W-74 0020-035 015' 0.473 1.920
PM-W-78 0170-195 025' 0.174 0.000
PM-W-78 0200-225 025' 0.057 0.000
PM-W-77 0115-175 020' 0.020 0.077
PM-W-80 0120-225 105' 0.028 0.554
PM-W-81 0025-045 020' 0.043 1.245
The company's expanded drill permits for 1998, are currently being updated with anticipated resumption of drilling to commence in early spring. Of the many holes drilled in the 1997 program it is important to note that hole 55 stopped in almost one ounce of gold per ton. This will be one of the first holes revisited upon the resumption of the 1998 drill program.
internetstockmarket.com
Tuesday November 11, 10:28 am Eastern Time
Company Press Release
Positive Drilling Results Announced By European American Resources
CLEARWATER, Fla.--(BUSINESS WIRE)--Nov. 11, 1997--European American Resources (OTC BB:EPAR- news) announced their reaching the half way point in their first phase drill program.
The Prospect Mountain Project lies near the bottom end of the Battle Mountain Eureka trend just two miles south west of the town of Eureka, Nev.
Of the four mineralized zones known, the Wabash zone of the mountain represents the first target in the upcoming drill programs. The purpose of this initial phase drilling is to define an ''ore body of 500,000 ounces of gold or more.''
The Prospect Mountain Project property which was originally a sulphide ore body, is ''totally oxidized'' and replaced member of the Cambrian Dolomite section of the region. The Prospect Mountain ore body is believed to be linked to the North East and South East of other ore bodies. Drill sites have been prepared in those areas to prove this theory and drilling will commence as a part of the first phase drill program in the near future.
Current drilling results indicate the presence of three horizons, which begin at the top with outcrops at the surface and further exposed by drill preparation. The third horizon is indicated at the 350 ft. level by drill results and historical underground work indicate deeper horizons that are not currently planned to drill in the first phase program but will be explored in the second phase.
Certainly, at this point the company is ''extremely pleased'' with current drill results. After 50 holes in the first phase, margins of the ore body have not been delineated in any direction. Therefore, these early results were expected to return low to barren assay results. Without question, by results thus far achieved, it is quickly becoming apparent that the Wabash ore body will be much larger than first anticipated. The company will proceed to amend its current permits to extend the current roads outlining the present permitted Wabash zone. Drill targets are in the works in a further attempt to outline the outer edges of the Wabash ore body.
Intense mineralization is indicated in Holes 11 through 14.
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Oz/t (gold)
Hole 11 40 ft. level assay results .449
Hole 12 30 ft. level grading results .998
35 ft. level grading results .118
50 ft. level grading results .221
Hole 13 Ran downhole from surface on
5 ft. intervals grading:
.098, .047, .060, .050, .039, .159, .134, .152, .027,
.133, .033, .023, .017 oz/t (gold).
Hole 14 165 ft. returned good grading highest at
.158 oz/t (gold).
Drilling activity now is centered around the more known mineralized zone in the Wabash and expectations are ''very high'' based on earlier results in the upper zones.
This news release was prepared by management of the company who takes full responsibility for its contents. The Internet Stock Market neither approves or disapproves of the contents of this news. |
