another great result ...
NANECO MINERALS LTD.
Suite 2005, 355 - 4th Avenue S.W. Phone (403) 232-6833
Calgary, Alberta T2P 0J1 Fax (403) 232-6463
NEWS RELEASE February 18, 1999
NANECO INTERSECTS VERY SIGNIFICANT MINERALIZATION AT ITS JIAWULA PROJECT, CHINA
Recently received drill results from NANECO MINERALS LTD.'S Jiawula silver-copper-lead-zinc Zone No. 2 deposit in Nei Mongolia, China, continue to confirm mineable grades and thickness of massive to semi-massive sulfide mineralization. Of particular note was Core Hole J-98-22 intersected 4.75 meters (15.6 ft) which graded 400.74 g/mt Ag, 0.19% Cu and 16.63% combined Pb-Zn and contained a 1.98 meter (6.5 ft) interval grading 926.14 g/mt Ag, 0.41% Cu, and 36.06% Pb-Zn.
In addition, Core Hole J-98-24 intersected a 10.75 meter (35.3 ft) interval grading 281.9 g/mt Ag, 0.37% Cu, and 22.86% combined Pb-Zn which contained a 8.40 meter (27.56 ft) interval grading 308.15 g/mt Ag, 0.41% Cu, and 21.48% combined Pb-Zn. Additional assays from intersects in J-98-22 and J-98-24 are listed below.
Depth of Intercept Silver Values Copper Values Lead Values Zinc Values
Hole # in Meters grams per tonne in Percent in Percent in Percent
J-98-22 140.60-141.95 22.2 0.03 1.28 1.83
141.95-142.40 5.4 0.02 0.51 0.71
142.40-143.37 38.5 0.04 1.35 1.59
143.37-144.30 1062.8 0.21 23.20 8.26
144.30-145.35 805.1 0.59 27.19 12.93
1.98 meters 926.14 g/mt 0.41% 25.32% 10.74%
4.75 meters 400.74 g/mt Ag 0.19%Cu 11.24%Pb 5.39% Zn
J-98-24 220.20-220.70 282.3 0.25 20.5 9.36
220.70-221.95 160.7 0.3 16.97 11.08
1.75 meters 195.44 g/mt 0.29% 17.98% 10.59%
245.65-246.25 166.0 0.17 13.06 12.48
268.05-268.60 91.5 0.05 2.29 5.31
268.60-269.55 640.6 0.32 31.87 11.09
269.55-270.33 277.7 0.24 11.28 21.25
270.33-271.40 208.7 0.17 12.6 4.68
271.40-272.40 541.9 0.56 23.48 4.20
272.40-273.40 170.1 0.2 8.96 10.40
273.40-274.40 460.3 0.39 12.94 9.01
274.40-275.40 297.7 1.51 8.39 12.00
275.40-276.45 18.7 0.05 1.01 1.15
8.40 meters 308.15 g/mt 0.41% 12.93% 8.55%
Composite
Width/Grade 10.75 meters 281.9 g/mt Ag 0.37% Cu 13.76% Pb 9.10% Zn
NEWS RELEASE
February 18, 1999
Page 2
Results from Naneco's earlier drilling (combined mineralized intervals) include the following:
J-98-1 17.10 m (56.10 ft) 171.60 g/mt Ag 0.21% Cu 11.05% combined Pb-Zn
J-98-2 2.50 m ( 8.20 ft) 313.04 g/mt Ag 0.50% Cu 27.10% combined Pb-Zn
J-98-3 3.00 m ( 9.80 ft) 191.87 g/mt Ag 0.34% Cu 22.77% combined Pb-Zn
J-98-4 22.00 m (72.20 ft) 147.67 g/mt Ag 0.55% Cu 11.98% combined Pb-Zn
J-98-5 12.00 m (39.40 ft) 113.80 g/mt Ag 0.35% Cu 13.26% combined Pb-Zn
J-98-6 17.10 m (56.00 ft) 111.22 g/mt Ag 0.39% Cu 11.89% combined Pb-Zn
J-98-7 6.00 m (19.70 ft) 112.60 g/mt Ag 0.24% Cu 10.84% combined Pb-Zn
J-98-8 12.80 m (42.00 ft) 97.45 g/mt Ag 0.24% Cu 12.68% combined Pb-Zn
J-98-9 23.40 m (76.78 ft) 67.62 g/mt Ag 0.29% Cu 12.06% combined Pb-Zn
J-98-10 3.65 m (11.98 ft) 286.70 g/mt Ag 0.62% Cu 12.26% combined Pb-Zn
J-98-11 10.50 m (34.45 ft) 220.74 g/mt Ag 1.36% Cu 16.48% combined Pb-Zn
J-98-12 3.80 m (12.50 ft) 409.94 g/mt Ag 0.97% Cu 20.89% combined Pb-Zn
J-98-13 3.95 m (12.90 ft) 136.80 g/mt Ag 0.23% Cu 19.46% combined Pb-Zn
J-98-14 16.98 m (55.00ft) 72.68 g/mt Ag 0.26% Cu 6.49% combined Pb-Zn
J-98-15 7.35 m (24.10 ft) 163.49 g/mt Ag 0.55% Cu 10.12% combined Pb-Zn
J-98-16 2.64 m ( 8.70 ft) 224.49 g/mt Ag 1.28% Cu 17.20% combined Pb-Zn
J-98-17 0.88 m ( 2.89 ft) 199.04 g/mt Ag 0.42% Cu 12.43% combined Pb-Zn
J-98-18 2.30 m ( 7.55 ft) 124.17 g/mt Ag 0.31% Cu 8.68% combined Pb-Zn
J-98-19 3.35 m (11.00 ft) 299.21 g/mt Ag 0.52% Cu 25.36% combined Pb-Zn
J-98-21 2.50 m ( 8.20 ft) 112.40 g/mt Ag 0.09% Cu 16.08% combined Pb-Zn
Exploration of the Jiawula district will continue in conjunction with the development of the Zone No. 2 ore body with a goal of increasing production rates and reserves. Immediate plans call for the completion of a pre-feasibility study, additional metallurgical studies and mining and processing design to culminate in mine production in 1999.
The Jiawula project is a joint venture between Naneco and Hulunbeir, a Chinese mining corporation. Naneco holds a 75% interest prior to payout and a 70% interest after payout from its investment in the project.
For more information please contact:
Archie J. Nesbitt, President
Raju Wani, Corporate Development
Telephone (403) 232-6833; Toll Free 1-877-2NANECO; Telefax (403) 232-6463
Email: miningco@ab.imag.net Website: www.naneco.com
Investor Relations: Dan Patience of Noble House Investments Inc.
Phone: (403) 262-7111;Toll Free 1-800-499-2388;Telefax (403) 266-5732
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
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