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Gold/Mining/Energy : Barramundi Gold
BAM 53.90-0.9%Nov 4 3:59 PM EST
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To: zebity who wrote (10)11/4/1998 11:19:00 PM
From: zebity   of 99
 
Barramundi Gold Wandoo update news.

Barramundi Gold Ltd -
Exploration progressing at Chillagoe/Wandoo
Barramundi Gold Ltd BAM
Shares issued 12,026,850 1998-10-30 close $0.28
Tuesday Nov 3 1998

Mr. Bob Burban reports
As previously announced in Stockwatch July 17, 1998, Barramundi has entered into an arm's length joint venture agreement with Normandy Mt. Leyshon Limited (NLY) for the exploration of Barramundi's 1,000 square kilometre Chillagoe/Wandoo property in North Queensland, Australia.
NLY has advised Barramundi that the following information on the Chillagoe (Wandoo) exploration program has been included in NLY's quarterly report for the three months ended Sept. 30, 1998:
On the Chillagoe joint venture, 350km northwest of Charters Towers, soils geochemistry on the Rockwood (Wandoo) prospect defined porphyry related metal zonation patterns. Gradient array IP mapping defined several strong chargeability anomalies. An RC and diamond drilling program of 17 holes is in progress to test these features.
Early results include a 30m intercept in hole WRD002, in which intensely altered and brecciated porphyry hosts lead and zinc sulphide mineralization. Assays are awaited.
Geological mapping and sampling of the Muldiva skarn prospect indicates only limited potential for economic gold mineralization.
Further updates will be released by Barramundi upon receipt of additional information from NLY.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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