Hi Rene, those are good questions, but my geological terminology and conversions is a bit lacking. I will post the news release and hopefully someone can explain it. I do notice that exploration companies tend to announce their results in this manner from time to time, especially when the results are from soil samples. This release will mean alot more to geologically educated individuals than me or you. It seems to be Larry Reaugh's style when writing news releases. I'm not too sure if he's trying to attract institutional buying or what. This company, as previously mentioned is very tightly held by insiders and friends of Larry's. I was one of the very few lucky ones who was able to get some of the IPO-just in the right place at the right time. Here's the news release :
Timur gold anomalies identified
Stirrup Creek Gold Ltd SGU
Shares issued 5,056,300 Jan 20 close $1.13
Tue 21 Jan 97 News Release
Also International Silver Ridge Resources Inc (ISG)
Mr Larry Reaugh reports
Encouraging results have been released on the Timur project a 50/50 joint
venture with International Silver Ridge and Stirrup Creek. The Timur
project is in East Kalimantan, Indonesia approximately 150km west of the
provincial capital, Samarinda, and about 125km southwest of the Bre-X
Busang gold deposit.
The property is underlain by sediments of the Kampungbaru Formation of
Pliocene Age. The exploration objective and deposit model for the property
is to define an epithermal gold-bearing carbonate-polymetallic system
related to an intrusive and diatreme complex that cuts or intrudes the
Pliocene sediments.
In late November 1996, Stirrup Creek commenced a first stage exploration
program consisting of detailed stream sediment sampling, grid line control,
soil sampling, prospecting and geological mapping. The sediment sampling
program consisted of 55 stream sediments giving a sampling density in
excess of one sample per square kilometre, large size bulk leachable
extractable gold (BLEG) sediment samples and 25 panned stream sediment
concentrates. In addition 190 soil samples from 9.5 line kilometres of grid
were collected over portions of tectonic structural anomalies defined in an
earlier structural study of Radarset imagery of the concession. The
exploration program was completed in mid-December 1996.
The analytical results for the stream sediment and soil samples have been
received and a limited evaluation has been made. The following significant
targets or zones have been defined.
Southeast Stream Sediment Anomaly
Three sediment samples from three separate creeks range from 30 to 40 parts
per billion gold and form a cluster over three square kilometres on the
southeast portion of the concession; they are coincident in part to an 18
part per billion gold BLEG sediment anomaly.
Line 2 Gold Soil Anomaly
In the centre of the concession a single east-west oriented soil line has
returned 10 anomalous soil values over a one kilometre distance that range
in value from 20 to 130 parts per billion gold value. Coincident to these
anomalous gold values are elevated mercury values ranging from 70 to 120
parts per billion. It also appears that peripheral and distant to the north
of the line 2 gold soil anomaly a large area of about eight square
kilometres contains elevated or anomalous mercury soil values that range
from 10 to 250 parts per billion.
North Central Pan Concentrate Zone
Approximately one kilometre to the north of the line 2 gold soil anomaly,
an area of about one square kilometre is defined by four elevated and/or
anomalous panned stream sediment concentrates that range from 1.67 to 10.0
parts per million; an anomalous BLEG gold sediment anomaly of 34 parts per
billion is coincident to this zone and a stream sediment from within the
drainage system to the north contains an anomaly of 40 parts per billion
gold.
Line 7 Gold Soil Anomalies
Line 7 is a north-south soil line on the northeast part of the concession;
two separate gold soil anomalies, each contains two anomalous values
ranging from 20 to 100 parts per billion.
Karangen Creek
This creek, on the northwest part of the concession, contains a BLEG stream
sediment anomaly of 17 part per billion gold.
A technical report an the 1996 exploration program is currently being
completed. On the basis of this report and further evaluation, future
follow-up exploration surveys will be defined to assess the above
exploration targets and zones.
Exploration is expected to commence by February 15 1997 on the Brey COW
(75% Stirrup Creek/25% Forefront Ventures).
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
Any comments would be very much appreciated!
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