Here is the full news release.
NEWS RELEASE
December 7, 1998
JABA COMPLETES FIRST STAGE OF MAPPING AND EVALUATION OF APACHE GOLD AND SILVER PROSPECT
In JABA's News Release dated June 22, 1998, we described commencement of a mapping- and geochem-based evaluation of its Apache gold and silver prospect in the Northern Swisshelm Mountains of Cochise County, Arizona, to be conducted by specialists Dr. M.L. Silberman and Dr. A.K. Armstrong. The initial stage of this study has been completed.
The results of this ‘scoping' study are very positive and suggest that the upper level of a wide bonanza gold-silver vein more than 3 kilometers (1.8 miles) long is exposed at the surface and deserves drill testing.
The text of their executive summary follows:
Report on Mapping and Evaluation of the Apache prospect for JABA (US) Inc. undertaken by Dr. M.L.Silberman and Dr. A.K. Armstrong. Drs. M.L. Silberman and A.K. Armstrong have completed a first round of mapping and evaluation of the Apache gold and silver prospect in the northern Swisshelm Mountains, Cochise County, Arizona. Field mapping has indicated that the previously identified three kilometer square blanket jasperoid outcrop area consists of a series of silicified breccias of karst cave and regolith origin enclosed in unaltered Pennsylvanian and Permian Horquilla Limestone. The breccias developed on an erosion surface and in caves and sink holes in Early- to Mid-Tertiary time just prior to or perhaps overlapping volcanic activity.
The mapping delineated a strong north-south fault zone to the west of the blanket jasperoid that can be traced for more than three kilometers. This fault zone is characterized by jasperoid breccia that differs from the blanket breccia in having well developed hydrothermal features such as chalcedonic quartz veins, crackle breccia, quartz-veined clasts, exploded clasts, and hydrothermal micro-breccia veins. Both the blanket and fault breccias are moderately to heavily iron-oxide stained. About half way through its mapped exposure, the fault splays into two strands that diverge to the north and north-northwest. Where the north-trending fault is intersected by east-west faults the jasperoid widens. Near its southern end, a wide zone of jasperoid, or "blow-out", is exposed where several east-west and northwest trending faults intersect the main structure. This blowout is about three hundred meters across.
The north-south fault zone is interpreted to be a main hydrothermal fluid conduit. Fluids welled upwards along this structure and encountered impermeable volcanic rocks that covered the limestone and regolith/cave/sinkhole erosional surface. The fluids then flowed laterally to the east down a gradient through the permeable regolith/cave breccia beneath the volcanic aquaclude and silicified those breccias. Strong As (arsenic), Sb (antimony) and Hg (mercury) anomalies in the blanket jasperoid, along with low level and spotty Au (gold) contents, represent distal geochemical signatures of the more westerly upwelling system.
Eighteen rock chip samples were collected along the north-south jasperoid structure. Of these, sixteen had detectable ( >5 PPB) Au (greater than 5 parts per billion gold), thirteen had more than 15 PPB (15 parts per billion), and seven had greater than 100 PPB (100 parts per billion). The highest and most consistent Au (gold) contents came from the jasperoid "blowout", where all samples, except one, had greater than 100 PPB, with 175, 120, 215, and 560 PPB respectively. The highest Au content, 680 PPB, came from a sample taken from one of the splays near the north end of the structure. Arsenic, Sb (antimony), and Hg (mercury) contents were moderately high (up to 425, 80 and 3000 PPB, respectively) and correlated with Au content.
The main fault zone can be traced discontinuously south of the "blowout" where it contains Ag(silver)-base metal veins, pipes and mantos hosted in carbonate rocks. This base-metal zone has been identified as a stratigraphic level about three thousand feet lower than that hosting the blanket and fault-jasperoid to the north. On this basis, we suggest that the main north-south fault zone at the blowout and to the north is an upper, shallow level of a significantly mineralized Au- Ag (gold-silver) potential bonanza vein system that could extend to great depth before it zones down to Ag-base metals. Low but consistent Cu (copper), Pb (lead) and Zn (zinc) contents of the jasperoid corroborate this suggestion.
Dr. Miles L. Silberman
November 22, 1998
Based upon this report, JABA will undertake further exploratory examination of the property and is now seeking a joint venture partner to join JABA in an extensive drilling program to further evaluate the Apache prospect.
On behalf of the Board of Directors
James A. Briscoe
Chief Executive Officer
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
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Mardee S. Briscoe
Vice President/Business Mgr.
JABA (US) Inc.
2766 N. Country Club Rd.
Tucson, AZ 85716
(520)327-7440 voice
(520)327-7450 fax
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