Anyone following Golden Bear Minerals (v.GB)?
Not much info on them. The share price has been dropping (BRE-X effect?), but seems to have bottomed and turned up again. They have properties in Indonesia, Guyana, and Venezula. Their last news release shows some big numbers (25.5 g/t) in Indonesia, but I'm not sure of their significance. Any comments? Here is the lastest news release that I could find:
Golden Bear Minerals reports exploration results for Beruang Mas North
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 19, 1996-- Golden Bear Minerals (VSE GB.) Golden Bear Minerals Inc. (the "Company") announces results of a second
phase trench sampling program on the Beruang Mas North property in south Sumatra, Indonesia. The results of the initial trench sampling program announced August 16, 1996,
indicated a broad gold anomaly encompassing a series of north trenching quartz-sulphide veins.
In addition to the trenching a set of shallow below ground workings were sampled. Twenty six samples along a strike dimension of 18 metres ("m") taken from the shaft and tunnel
provided a weighted average of 25.5 g/t gold and 642 g/t silver.
The second phase trenching program was designed to intersect the individual veins in several places no more than 25 m apart and to investigate extensions to the known
mineralization. Eighteen trenches two to three m deep have been completed. The trenches have been systematically sampled with the continuous chip samples being no more than one
m long, except for trench 2T2. The trench sample average assays are provided on the attached sheet.
The trenching program has confirmed the existence of four parallel vein structures developed over 100 m. Three veins produced samples containing over one ounce gold. One vein
provided samples over 200 m of strike that assayed over 20 g/t.
Additional trenching and reconnaissance sampling is continuing while the Company analyses and interprets results obtained to date. The Company expects to undertake a drill test
program in the near future, using the drill rig that has been engaged on the Beruang Mas South property.
The Company also announces it has completed a phase two, five hole drill program on the Beruang Mas South property. The core is in the process of being assayed and results will
be released upon receipt.
In addition to the Beruang Mas properties, the Company holds interests in two other properties in Indonesia, one in Venezuela and one in Guyana.
Trench No. of Samples Dimension (m) Average Assay (g/t)
2T1 16 13.7 4.2
2T2 3 60.5 4.2
2T3 15 14.0 1.7
2T4 16 14.7 0.6
2T5 17 12.8 1.2
2T6 17 15.3 0.2
2T7 15 14.6 2.2
2T8 16 16.0 0.2
2T9 15 14.4 0.1
2T10 17 14.4 0.1
2T11 15 14.0 0.4
2T12 13 13.0 0.2
2T13 15 12.6 1.6
2T14 17 14.0 3.5
2T15 14 13.4 0.3
2T16 14 14.0 0.2
2T17 16 14.2 0.7
2T18 12 9.7 0.2
ON BEHALF OF THE BOARD OF DIRECTORS
Richard W. Warke, Chairman
The Vancouver Stock Exchange neither approves nor disapproves the information contained in this News Release.
CONTACT: Golden Bear Minerals Inc.
Kent Couillard, 604/687-1717
604/687-1715 (FAX)
E-mail: waterfront@cyberstore.ca |
