St Andrew Goldfields Ltd SAS TSE January 21, 1997
1996 Program Third Discovery Stock Mine To Depth
Charles Gryba, President announced St Andrew Goldfields Ltd. has just completed a deep drill hole under the Stock Mine to the 1,600 ft level. Hole S-96-02 intersected a strongly mineralized zone grading 0.11 opt over 65.6 ft which includes 0.21 opt over 17.1 ft. This intersection is located 500 ft below the deepest mine workings and confirms the deep potential of the Stock Mine (see attached section or call 416-597-0969).
The mineralization intersected in hole S-96-02 is similar to that of the high grade Central / West Zone system. The West Zone has produced 115,000 tons grading 0.266 opt gold above the 1,100 ft level. Central Zone intersections average 0.36 opt gold (cut to 1.0 opt) and are listed on the attached table.
St Andrew has now completed a first phase drill program at all three of its minesites. All three programs were very successful. The first new ore discovery was at the Hislop Mine site with an intersection grading 0.65 opt over 9.8ft (press release 10/22/1996). The second discovery occurred at the Taylor Mine site based on assays of previously untested core, re-interpretation of geology, and confirmation by three new drill holes. As a result, the mineral inventory for the West Porphyry Zone has increased four fold to 1,400,000 tons at 0.28 opt (press release 01/09/1997).
Stock drill hole S-96-01 was lost due to caving at 455 m depth and was redrilled as hole S-96-02. Hole S-96-03 while drilled to test a Real Section IP anomaly south of the Stock Mine intersected two base metal zones grading 0.26 percent copper with 0.22 percent zinc over 3.8 ft,
and 0.37 percent copper over 1.6 ft. The results of a down the hole (Deep EM) geophysical survey on hole S-96-03 is being evaluated.
St Andrew Goldfields Ltd. is a Canadian gold exploration and mining company with three permitted mining properties (Stock, Taylor, Hislop), a modern 1,000 tonnes per day mill that will start custom milling in early 1997 and more than 36 square miles of prime exploration properties in the prolific Timmins gold camp of Northern Ontario.
TEL: (416) 597-0969 Charles Gryba, President |
