APRIL 9, 1999
Davidson Tisdale Ltd. - Press Release
MARKHAM, ONTARIO--1326725 Ontario Limited wishes to announce that
an exploration drill program of several thousand feet will
commence shortly on the Davidson Tisdale project in Timmins, Ontario.
Since the original discovery of gold on the property in 1909
numerous operators have worked on and developed the project.
Surface and underground work by Getty Resources, in the early
1980's, indicated "a geological in-place ore reserve estimate for
the Main (Shaft) Zone and S (Smith Vet-T Zone) areas of 748,054
tonnes having an average, uncut, in-place grade of 12.33 g
Au/tonne based on a 1.7 g cut-off, across an average true width of
2.97 m. This calculation was along a strike length of about 800 m
and to a depth of about 200m". "A potential exists for an
additional 1.2 million tons (1.08 million tonnes) of similar grade
between 650 and 1675 feet".
Placer Dome in 1994, conducted an evaluation of the Shaft Area
with an aim to developing an open pit. Placer Dome reports "to
150 metres depth, a total resource estimate of 165,975 g/tonne was
obtained using an assay based method of defining the more blocks.
This compares to 192,250 tonnes at 5.32 g/tonne obtained from
geological defined ore block". The Placer Dome report was
internally generated and was not used for a feasibility study.
The term "assay based", used by Place dome, refers to a modeling
boundary defined by assays.
The scheduled program, to begin this week, will consist of collar
surveying and deep exploration/stratigraphic drilling. The
drilling, two holes of 2,000 feet each, is designed to further
evaluate the depth extension of some of the previously outlined
gold zones. Previous indications of base metals can be evaluated
by one of the planned exploration holes.
An additional phase of drilling (depending on encouraging results
from the first two holes), accompanied by on-going data
compilation and verification in conjunction with a
re-interpretation of Real Section IP, will further examine the
outlined zones and new targets.
1326725 Ontario Limited anticipates completion of a detailed
review of the open pit potential in the vicinity of the Main Shaft
by comparing and analyzing the results of this drill program with
previously reported results. Upon a successful review, the
objective will be to processing selected material based on this
drilling program on a custom basis at a nearby mill. The company
also envisions a return to an underground operation in conjunction
with or separate from the open pit. This will require dewatering
the main shaft and other necessary steps to render the mine
operable for which tenders will be sought.
Davidson Tisdale Ltd. trades on the CDN with the symbol DDTS and
has approximately 11,000,000 shares outstanding. |
