I have a question for those who follow resource stocks.
This report on Fenton property results by Boreal Exploration, is it good? Should the company be very happy. New to mining for gold stocks(Speculative plays at that).
newsalert.com
Boreal Exploration inc. - Latest Results on Fenton
Canadian Corporate News - November 19, 1998 22:00
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QUEBEC CITY, QUEBEC--Boreal Exploration inc. (Boreal) is very happy to announce the latest results from recent stripping and
channel sampling done on the Fenton property, located south of Chapais in Abitibi.
The work program was aimed at upgrading the existing resources anddefining the mineralization associated with the structure of
the Fenton Zone. Detailed mapping was done on the stripped area whichhas a 300 meter by 300 meter surface.
Section Channel Length (m) Grade (g/t Au)
_________________________________________________________
8+32W 1 13,0 4,7
including 3,0 10,4
_________________________________________________________
7+78W 2 21,0 0,75
_________________________________________________________
7+26W 3 13,5 14,1
including 3,0 53,1
_________________________________________________________
7+05W 4 2,0 6,0
_________________________________________________________
6+54W 5 11,0 8,85
_________________________________________________________
6+46W 11 3,0 3,3
_________________________________________________________
6+26W 10 6,0 1,3
including 1,0 4,6
_________________________________________________________
6+00W 8 1,0 0,8
_________________________________________________________
5+63W 9 6,0 4,0
_________________________________________________________
All samples were analyzed by X-Ral Labs of Rouyn-Noranda, a subsidiary of SGS.
Following these excellent results, a new gold resource was calculated which yielded a larger volume and a higher grade than the
previous calculation. Lower and higher cut-off grades used are respectively 2,0 g/t Au and 34 g/t Au :
Previous calculation: 359,268 Mt @ 4,94 g/t Au
New calculation: 401,985 Mt @ 5,01 g/t Au
Drilling campaign
A drilling campaign is presently on-going on the Fenton property. It is aimed at upgrading the resources on the Fenton Zone and to
test other geological and geophysical targets on the property. Results will be released in the coming weeks.
Highlights
- Fenton :up to 53,1 g/t Au over 3,0m in channels an start of a
drilling campaign.
- Filing of a preliminary prospectus with the C.V.M.Q.
- Ressources on Fenton : 401,985 m.t. @ 5,01 g/t Au.
- Important gold discovery on Poste Le Moyne.
Boreal Exploration
18 properties in Quebec
Partners:
- Cominco
- Falconbridge
- SOQUEM
- S.D.B.J.
- Virginia
Exchange: Montreal Ticker : BOR
10,310,257 shares issued
FOR FURTHER INFORMATION PLEASE CONTACT:
Boreal Exploration inc.
Guy Bedard
President
(418) 694-9698
(418) 692-3969 (FAX)
boreale@videotron.ca |
