GOT NUMBERS: Dakota Resources Limited
DAK ASE
January 20, 1997
Reception Of Report From Robert C. Bryant Re: Specific Claim in Chihuahua, Mexico
DAKOTA RESOURCES LTD ("DAK-Y")
- Reception Of Report From Robert C. Bryant - Re: Specific Claim in Chihuahua, Mexico
Romarco Minerals Inc. is pleased to announce the results of the late fall 1996 phase 2 drill program on Romarco's Midas property. The project is located in the Carlin Trend in Nevada adjacent to Euro/Franco Nevada's Midas Rex Grande discovery (3 million ounces of gold equivalent). Both, reverse circulation and core drilling were carried out. The drill program was prematurely cut short due to extremely poor weather conditions.
Two diamond core drill holes RM-33c and RM-38c (2,227 feet) were drilled on the Gold Crown Vein to test the orientation of the vein and to determine if any discrepancy occurs between gold values from reverse circulation drilling and core drilling. Only a portion of the sample assays from these two holes have been received.
Hole RM-38c twinned hole RM-12 (Phase 1 - 1996), and was drilled 25 feet south-south west of the collar of RM-12 (see map). The following is a chart with the drill results of hole RM-38c and a comparison between reverse circulation hole RM-12 and core hole RM-38c. Hole RM-38c is the best drill hole to-date on Romarco's Midas property.
Hole Depth in Intercept Ounces Ounces Intercept Grams Grams
# feet in feet of gold of silver in of gold of silver
per Ton per ton meters per per
tonne tonne
RM-38c 755-842 87 0.761 10.11 26.52 26.06 346.23
Inclu-
des 755-829 74 0.873 11.60 22.56 29.89 397.26
Inclu-
des 764-829 65 0.961 12.90 20.73 32.91 441.78
RM-12 670-730 60 0.455 2.9 18.29 15.58 99.31
The comparison indicates a very significant increase in both gold and silver values from core drill samples when compared to reverse circulation drill samples. Romarco believes that it will achieve similar increases in gold and silver values in future core drilling in comparison to past reverse circulation drilling.
A NEW ZONE
Core Hole RM-38c encountered a new zone of very high grade gold and silver in the footwall of the Gold Crown Vein. This zone is believed to be a feeder to the Gold Crown Vein and holds good potential for dramatically increasing our resource potential. The feeder zone is distinguished by a broad zone of brecciation with multi-episodic quartz calcite veins with amethyst, visible gold and silver sulphides. A total of 8,425 feet of reverse circulation drilling in 6 holes was also completed in phase II. Four holes were drilled on the Belnap Claims next to Euro/Franco Nevada's Rex Grande Zone, one hole was drilled on the Old Judge Claim and one hole was drilled on the Dixie Claims. None of these holes returned significant gold mineralization. Of the six holes only two were drilled in the vicinity of the Gold Crown Vein. The other four holes were exploratory holes that targeted other potential areas of mineralization.
Plans for 1997 include an extensive core drilling program to further delineate mineralization within the Gold Crown Vein zone and to follow-up reverse circulation hole RM-29 that was drilled on the Dixie Claims. This hole returned 35 feet (10.67 metres) of 0.11 ounces per ton gold (3.7 grams per tonne) and 18.9 ounces of silver per ton (647.3 grams per tonne). A drill program will be designed to test for mineralization along other veins and areas of potential, outlined during mapping and sampling in 1996.
Romarco's 1997 exploration program is budgeted to be $6,000,000 of which $2,000,000 will be spent on the Midas Property.
TECHNICAL EXPLANATION ABOUT THE 1996 PROGRAM.
Romarco's geological team believes that the 87-foot vein intercept encountered in hole RM-38c is located a considerable distance below (in the footwall of) The Gold Crown Vein. This geometry is also demonstrated in hole RM-12, but the RM-12 intercept appears to occur closer to the actual position of the Gold Crown Vein. It is important to note that drill sample recovery, particularly in the vein zone, improved dramatically through use of the diamond core drilling method. Needless to say, Romarco's 1997 drill program on the Belnap patented claims will be solely diamond core drilling.
It appears that the intercepts encountered in RM-12 and RM-38c may represent a very significant high grade feeder vein system which is located in the footwall of the Gold Crown Vein. This concept is well supported by the numerous, gold and silver bearing, vein intercepts encountered in other reverse circulation drill holes which test the Gold Crown Vein along strike to the west (multiple intercepts were encountered in holes RM- 11 - 13 - 14 - 15 - 20 - 23 and 24).
Since we only have the results of the intercepts in hole RM-12 and RM-38c to compare, the actual extent and strike of the feeder vein system is uncertain at this time. However, because of the presence of multiple vein hits in the footwall, it seems likely that the orientation of the feeder vein system is sub parallel to the strike of the Gold Crown Vein.
Romarco Minerals Inc. is an exploration company focused on gold in Nevada. The company has eleven strategically-located properties situated within the main gold producing belts in this state.
TEL: (416) 408-2350 Joseph van Bastelaar, President and CEO
Sally Rollinson Investor Relations
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NOW, COULD SOMEONE PLEASE TELL ME WHAT DAK HAS TO DO WITH ROMARCO???
OTHERWISE THIS LOOKS LIKE A GREAT RELEASE!!! |
