Stirrup Creek Gold SGU V Message Board

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Gold/Mining/Energy : Stirrup Creek Gold SGU V

SGU 11.82

-0.8%

Dec 26 4:00 PM EST

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To: Bobby Yellin who wrote (24)	1/7/1997 3:39:00 AM
From: gemini	of 41

Hi Bobby, Robert and all others interested. News out on Stirrup Creek:Initial Indonesian results Stirrup Creek Gold Ltd SGU Shares issued 5,055,800 Jan 3 close $0.88 Mon 6 Jan 97 News Release Also International Silver Ridge Resources Inc (ISG) Mr Larry Reaugh reports Initial results on the Timur project, a 50/50 joint venture with International Silver Ridge Resources Inc have been received. The 25 stream samples from which results were obtained are panned concentrates (the samples have been panned down increasing the gold content) and the exact significance of the samples is unknown. The best results are from the north western A1 tectonic anomaly area being 1.67 to 10.0 grams/ton gold (0.05 to 0.29 opt). The assays are as follows: Gr/ton Samples (ppm) --------- ------ 01.13.001 0.88 01.13.002 1.10 01.13.003 0.12 01.13.004 0.25 01.13.005 0.14 01.13.006 0.29 01.13.007 0.11 01.13.008 2.72 01.13.009 0.07 01.13.010 0.27 01.13.011 1.56 01.13.012 0.25 01.13.013 0.33 01.13.014 2.92 01.13.015 1.67 01.13.016 10.00 01.13.017 2.91 01.13.018 1.00 01.13.019 0.25 01.13.020 0.18 01.13.021 2.96 01.13.022 0.14 01.13.023 1.04 01.13.024 3.97 01.13.025 3.31 The work was performed by Indogold Exploration Services and assaying was completed by P.T. Geoservices (Ltd) of Jakarta. The majority of the results are expected over the next few weeks. The company has reached an agreement with several investors to conduct a private placement of 300,000 units at $0.80 to realize total proceeds of $240,000. Each unit is comprised of one share plus a two-year warrant. Each warrant entitles the holder to purchase one share at $0.80 for the first year from the date of issue or if not exercised at $0.92 in the second year from the date of issue. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Would appreciate some feed back on this news release. Do you think that this is the reason behind the move? thanks in advance, gemini

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