Dan
I haven't seen this on your thread.
Rick
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: FAIRSTAR EXPLORATIONS INC.
ME SYMBOL: FFR
JANUARY 13, 1997
Fairstar: Exploration Programs Totalling in Excess of
$5.0 Million Dollars Well Underway on Ghanaian and Quebec
Projects
MONTREAL, QUEBEC--Fairstar Explorations Inc. ("Fairstar") is
pleased to announce the results from its initial five (5) hole
diamond drill program completed in mid December 1996 on the
Amantin Prospect, located within the 150 square kilometre Benso
concession in Ghana, West Africa. A total of 1,833.47 metres of
HQ and NQ core was drilled. The drilling intersected a major
shear zone up to 200 metres in width and open at depth containing
anomalous gold values throughout. The gold values range from 0.1
to 19.14 grams/tonne and some of the most significant values are
as follows:
/T/
DDH FROM-TO FROM-TO LENGHT Au
metres feet metres/feet g/t-oz/t
_____ ________ __________ __________ _________
AM96-1 147.80 148.75 447.83 450.71 0.95 2.88 19.14 0.56
AM96-2 241.65 243.60 732.20 738.11 1.95 5.91 5.35 0.16
AM96-3 248.45 250.80 752.80 759.90 2.35 7.12 1.80 0.053
AM96-3 135.10 145.50 409.35 440.87 10.4 31.52 0.42 0.012
AM96-4 334.50 336.00 1,013.54 1,018.08 1.50 4.54 1.84 0.054
AM96-5 182.95 184.30 554.34 558.43 1.35 4.09 1.48 0.043
/T/
This large shear zone confirms the presence of a major
hydrothermal system that has the potential to host a significant
gold deposit. The Company's geological consultants have
recommended that a second phase drilling program be undertaken as
part of a comprehensive follow-up to this early stage drilling.
The Amantin Prospect is the first of three major targets scheduled
for drilling on the Benso Concession as part of an ongoing US $2.8
million dollar exploration program that will continue until July,
1997. The next drilling target is the Subriso Prospect to be
followed in early April by the Chichiwelli Prospect. At Subriso,
a 4,000 - 5,000 metre diamond drilling program is scheduled to
begin on January 25, 1997 to test a 2.5 kilometre long induced
polarization anomaly having coincident gold and copper soil
geochemical anomalies.
At the Company's Fenelon Prospect, located in the Casa Berardi
area of northwestern Quebec, an aggressive 12,000 - 14,000 metre
diamond drilling program (budget $2.0M) began on schedule January
6, 1997. A 30 man winter camp has been established at the site
and three drill rigs have been mobilized. Weather permitting,
drilling is expected to continue until spring break-up in late
March, 1997. Initial shallow drilling will focus on the Main Zone
discovery area with the goal of confirming the gold inventory
potentially mineable by open pit. This work will also allow for
core orientation tests that will assist in structural
interpretation. The Main Zone has a strike length of
approximately 250 metres to a depth of 200 metres under overburden
varying from 6 to 10 metres. Further drilling will test other
areas in the immediate vicinity of the discovery zone as well as
focus on additional exploration targets within the Fenelon claim
block.
Fairstar Explorations Inc., symbol FFR, is a junior mining
exploration Company publicly listed on the Montreal Exchange.
With in excess of $6.2 million dollars in working capital, the
Company is sufficiently funded to complete all planned exploration
programs through to 1998.
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