Thursday November 19, 12:06 pm Eastern Time
Company Press Release
Alto de Lipangue, Chile - Porphyry Copper/Gold Deposits Identified
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Nov. 19, 1998--Gordon House, P.GEO, reports on his fieldwork on several of the companies' 1788 properties near Santiago, Chile.
Work on the Alto de Lipangue property consisted of an IP and geological survey of a previously discovered breccia zone. The survey was designed to expose a suspected underlying intrusive. Formerly called ''La Fortuna de Lampa Mine,'' Alto de Lipangue produced ore averaging 59 grams of gold and 104.1 grams of silver per ton over an eight-year period commencing in 1946.
Old mines and quartz veins are abundant in the Alto de Lipangue area and carry good values of copper, gold and silver. It is suspected that these values have been infused into the ''country rock'' and vein/manto structures by the intrusive. The intrusive has now been identified as a copper/gold porphyry deposit that is expanding to depth. Mr. House initially recommends 2700 meters of diamond drilling on identified targets. Management is currently accepting bids from drilling companies.
Mr. House also worked on Medinah's Las Dos Marias stockworks property that is adjacent to the Alto de Lipangue. He has corroborated the previous findings of Paul Jones (Mining Engineer) and Sr. Juan Jose Quijano (Dr. of Mining Law), that the potential exists for a quartz stockworks type gold deposit. An IP survey has now been completed over this area and it is reported that an additional two deposits have been identified in Las Dos Marias.
In other news, Medinah Energy Inc., is pleased to report that all of the nine cases in the Olivos Araya/Dayton Mining (Day) or Minera Dayton lawsuits have now been heard. Medinah has purchased the rights to the outcome of these lawsuits that affect several properties owned by Ms. Gumercinda Olivos Araya. The properties are located inside of Dayton's boundaries and mine plan in Andacollo, Chile. Sr. Juan Jose Quijano reports that a decision is possible as early as two weeks from now. Medinah will report the court's findings as soon as they are received.
On behalf of the Board of Directors
Per: Larry Regis, President
For further information, contact Ralph or Alan at Investor Relations at 1-888-572-0170 or http:/www.medinahenergy.com. |
