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Gold/Mining/Energy : New Blue Ribbon Resources Ltd (NBL.V was BLO)
NBL 8.4600.0%Oct 6 5:00 PM EST
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To: griz who wrote (224)3/10/1999 6:27:00 PM
From: Jesse  Read Replies (1) of 407
 
NEWS: New Blue Ribbon receives Cox drilling results

New Blue Ribbon Resources Ltd NBL
Shares issued 4,550,568 Mar 8 close $0.22
Wed 10 Mar 99 News Release
Mr. Larry Kryska reports
New Blue Ribbon has received an exploration update from its joint venture
partner, New Claymore Resources, which is earning a 50 per cent interest in
the Cox property.
On the Cox prospect, which is on the north margin of Swan Hills and south
of Lesser Slave Lake, the company has just completed the core drilling of
three widely spaced holes on the largest of six magnetic anomalies.
All three holes encountered similar rocks: sediments, interfingered with
sections of fine-grained altered volcanics. Due to the alteration it is not
possible to identify the volcanics with any degree of certainty. They are
possibly kimberlitic and various analytical procedures are under way to
determine their probable source. Core is presently being logged and split
sections will be shipped early next week to the laboratory of Kennecott
Canada Explorations Ltd. in Thunder Bay, Ont. for diamond analysis by
caustic fusion.
If positive results are obtained from the caustic fusion analysis,
additional drilling will be undertaken starting in late May. The Cox
prospect is optioned from New Blue Ribbon Resources Ltd.
Terraquest has completed the acromagnetic survey of the Kimberly/Manon
prospect which covers 270,000 acres surrounding the Mountain Lake
kimberlite. Final airborne data should be received in about one week. These
data will be analyzed in Edmonton with anomalous features to be examined in
the field in mid-April.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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