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FOR FURTHER INFORMATION PLEASE CONTACT:
Jaba Inc.
Donald A. Sharpe
President
(604) 602-9002
(604) 602-9007 (FAX)
1-800-863-1551
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the information contained herein.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: JABA INC.
ASE SYMBOL: JBA
FEBRUARY 18, 1997
Jaba Inc. Update on Apache Drill Program
VANCOUVER, BRITISH COLUMBIA--JABA Inc. announced today the results
from the first phase of drilling at its wholly owned Apache
project in southeast Arizona. Twelve RC holes averaging 360 feet
deep were completed for a total of 4305 feet in the Great American
Mine (GAM) area. The drill program cut 29 intervals of
mineralized jasperoid in runs from 15 to 100 feet thick, as well
as generally unmineralized host limestone. Although the highest
grade 5-foot sample ran 5.6 ppm (0.2 opt) Au and greater than 100
ppm (3 opt) Ag, grades of 1-2 ppm Au are less common than
anticipated. Preliminary evaluation indicates that the GAM is not
a large tonnage, low grade auriferous deposit as originally
speculated, tending more to lower tonnages of medium to high
grade.
Earlier JABA releases cited 112 assays taken at the GAM in 1980
that averaged 0.17 opt Au. JABA has confirmed these values with
further underground sampling where 15 of 30 channel samples
assayed greater than 0.1 opt Au, with values up to 0.635 opt Au
and 162 opt Ag. The GAM clearly has high grade areas, but, as is
common in drilling bonanza-type epithermal systems, they are
under-represented at the points of penetration by JABA's drilling.
The Apache project, in the north end of the Swisshelm Mountains of
southeastern Arizona, is in two parts; the Great American Mine and
the North Swisshelm jasperoid field. JABA has leased the Great
American and has acquired mineral rights to over 19 square miles
covering other jasperoid outcrops. Initial geochem sampling has
revealed broad areas of anomalous mineralization, generally
coincident with jasperoid silicification. Phase 2 drilling will
proceed when geochemical results and the results of Phase 1
drilling are compiled.
The Apache project is part of an epithermal jasperoid/silver-gold
metallotect running from north of the Commonwealth Mine (11
million ounces silver - 150,000 ounces gold produced, 8 million
tons of 0.03 opt gold reserves) 50 miles southeastward to the
Mexican border, with more than twenty prospective targets in
between. Within this trend, minable reserves occur in the
adjacent Dos Cabesas, Dragoon, and Chiracahua Mountains, and at
Mexican Hat. JABA remains confident that significant new
discoveries will be made at Apache and along the Apache trend.
JABA's winter drilling program has now moved to the Silver Bell
copper target, where an 11,000 foot drill program commenced in
early January. Following Silver Bell, the drill rig will move to
JABA's copper prospects at Yardley, Arizona and Maggie's Creek,
Arizona. As well, JABA's 90 percent owned subsidiary, Compania
Minera JABA S.A. de C.V., will commence a 5,000 foot drill program
at its copper-gold skarn target at Seri in Sonora, Mexico by mid
March.
Donald A. Sharpe, President |
