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Gold/Mining/Energy : New Claymore Resources
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To: jerry janko who wrote (386)3/10/1999 8:31:00 PM
From: jerry janko  Read Replies (1) of 531
 
New Claymore Resources Ltd NCS
Shares issued 4,165,775 Mar 8 close $0.34
Wed 10 Mar 99 News Release
Mr. Anthony Rich reports
New Claymore has completed diamond drilling of three targets on its Panny
River prospect in the Buffalo Head area of Alberta. A single hole was
drilled vertically on each of the targets to depths of between 145 metres
and 175 metres, all of which were stopped in overburden/clay and failed to
encounter competent bedrock. The holes were on the south half of the
prospect.
No further work is contemplated for the Panny River prospect.
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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