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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE
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To: The Fix who wrote ()3/4/1999 12:09:00 PM
From: Rocky510   of 186
 
SouthernEra and Island Arc drill results from Back Lake

Island-Arc Resources Corporation IAR
Shares issued 11,929,971 Mar 3 close $0.39
Thu 4 Mar 99 News Release
Also SouthernEra Resources Limited (SUF)
Mr. Albert Applegath of Kalahari reports
Kalahari Resources Inc. has received an update from its joint venture
partner, SouthernEra Resources.
The sonic drilling program on the Back Lake project, NWT, commenced on Feb.
24. The focus of the program is to locate the primary kimberlite sources of
the kimberlite float material that occurs within the shoreline area of Munn
Lake and the two kimberlitic heavy mineral indicator trains that have been
traced to the shoreline of Margaret Lake.
To date, 32 till samples have been recovered from the bottom of Munn Lake
using the sonic drill. Processing of till samples for the recovery of
kimberlitic heavy mineral indicators and kimberlite float fragments is
being completed daily at the Munn Lake camp site.
Early results include the positive recovery of kimberlitic heavy mineral
indicators with kimberlite fragments noted in two samples. The sonic drill
is continuing to trace the kimberlite float material and kimberlite
indicators from the shoreline, in an up-ice direction until an up-ice cut
off to the kimberlite indicators are defined. This will narrow down and
define the primary kimberlite area.
The interests of the parties in Back Lake are as follows: SouthernEra
Resources, 70 per cent; Island Arc Resources, 10.62 per cent; and Kalahari,
19.38 per cent.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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