Positive Drill results and a Co. to keep an eye on!
Collision project results
Consolidated African Mining Corp AFC
Shares issued 34,735,821 Dec 8 close $0.05
Wed 9 Dec 98 News Release
Mr. John Heathcote reports
The company has successfully completed the 1998 drill program on its
Collision project near Kwekwe in central Zimbabwe. The Collision project is
a potential bulk tonnage, surface mineable gold project hosted within a
banded ironstone formation. The project consists of five separate blocks in
which the company has a 100 per cent interest. One block is owned outright
and the company has the option to buy out 100 per cent of the remaining
blocks for 1,000 ounces of gold or the cash equivalent until December 1999.
The program consisted of a total of 5,180 metres of reverse circulation
drilling in two separate phases. The results of the first phase of drilling
were reported on Nov. 9, 1998.
The second phase of just over 3,000 metres consisted of 25 holes and
returned the following initial assay results.
True
Hole From To Metres Grade Width
CLR21 92 94 2 0.68 1.1
100 102 2 1.37 1.1
CLR22 5 7 2 0.54 1.1
24 26 2 1.13 1.1
CLR23 35 38 3 2.60 1.7
86 96 10 0.91 5.7
103 106 3 0.61 1.7
CLR24 1 12 11 0.96 6.3
25 30 5 0.39 2.9
89 91 2 0.38 1.1
98 100 2 0.39 1.1
CLR26 37 39 2 2.50 1.1
89 100 11 2.35 6.3
CLR27 35 48 13 2.03 7.5
57 62 5 0.52 2.9
66 71 5 1.25 2.9
107 112 5 4.71 2.9
117 119 2 2.99 1.1
CLR28 35 41 6 1.91 3.4
116 132 16 1.60 9.2
CLR29 89 93 4 3.34 2.3
129 152 23 1.53 13.2
CLR30 103 105 2 0.51 1.1
126 137 11 0.83 6.3
167 172 5 1.52 2.9
178 182 4 0.63 2.3
CLR31 62 81 19 2.19 10.9
87 103 16 1.15 9.2
116 120 4 3.03 2.3
124 126 2 0.42 1.1
188 194 6 0.64 3.4
CLR32 0 3 3 0.78 1.7
124 168 44 1.63 25.2
171 173 2 0.64 1.1
CLR33 14 18 4 2.43 2.3
96 98 2 0.95 1.1
CLR34 78 80 2 1.89 1.1
CLR35 19 21 2 1.02 1.1
CLR36 15 20 5 0.47 2.9
CLR37 8 11 3 0.68 1.7
16 22 6 1.75 3.4
36 39 3 1.29 1.7
CLR38 9 16 7 0.76 4.0
CLR39 19 22 3 0.48 1.7
27 31 4 0.78 2.3
36 39 3 0.84 1.7
67 71 4 1.02 2.3
CLR40 6 10 4 0.58 2.3
18 25 7 0.94 4.0
CLR41 3 15 12 0.45 6.9
19 31 12 0.43 6.9
126 133 7 0.84 4.0
CLR42 92 95 3 1.37 1.7
CLR43 80 82 2 0.37 1.1
CLR44 54 56 2 0.50 1.1
75 77 2 0.76 1.1
CLR45 31 34 3 0.42 1.7
40 45 5 0.66 2.9
63 71 8 0.35 4.6
77 82 5 1.52 2.9
99 102 3 1.60 1.7
Intersections were calculated using a 0.3 g/t lower cut-off and a minimum
drill width of 2 metres. Values above 10 g/t were cut to 10 g/t Au.
Antech Laboratories in Zimbabwe undertook the analysis using a 50g fire
assay. Initial determinations of the specific gravity of the mineralized
material from the project indicates values of 3.5 tonnes per cubic metre
within the ironstone formation and 2.5 tonnes per cubic metre within the
phyllites.
This second phase of drilling successfully established the continuity of
gold mineralization within the sulphide zone, verified gold mineralization
along strike and confirmed the presence of additional parallel zones of
mineralization.
The 1998 drill program on the Collision project has finished ahead of
schedule and below budget. The results have been extremely encouraging and
the company believes it has successfully identified a potential
world-class, low-grade, bulk tonnage gold project. Of the 6,500 metres
total strike length, 3,200 metres were covered by drilling of which 2,500
metres were drilled at 100 metre intervals as part of the first pass
program. The overall average intersected width of gold mineralization on
each 100 metre section drilled was 11 metres, with an average grade of 1.43
g/t Au. The program established that the mineralization continues to at
least a depth of 150 metres below surface. In addition, mineralization
remains open along and across strike. All six holes that intersected
sulphide material showed continuity of the mineralized zones found in the
overlying oxide material. It is the company's objective to advance the
Collision project as rapidly as possible and it has therefore entered early
stage discussions with a number of possible joint venture partners.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
