LAKE ELSINORE, Calif.--(BUSINESS WIRE)--April 27, 1999--Six
diamond drill holes have been completed at Alto de Lipangue, Chile
that confirms a major gold/copper hydrothermal system hosting
high-grade, bulk tonnage ore.
Significant assay results from these holes are as follows:
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*T
Diamond Drill Hole Interval Width Gold Copper Silver
Number From To M Ft g/t % g/t
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DDH 99-03 92 238 147 485 1.13
91 163 72 237 0.466
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Including 97 108 11 36 3.71
113 159 46 151 2.01
91 127 36 118 0.775
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DDH 99-05 103 288 185 610 0.74
107 113 6 19.5 1.41
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Including 107 113 6 19.5 11.68
130 131 1 3.3 33.67
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DDH 99-06 27 193 166 548 0.61 0.38
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Including 39 51 12 39.6 1.48
62 89 27 89 1.32 0.90
38 77 39 128 32.56
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*T
As a result of the Diamond drill holes to date, proving that Alto
de Lipangue is at least 100 meters X 100 meters, open in all
directions and depth, several major International Mining companies are
conducting on-site examinations.
DDH 99-01 - drilled vertically to 70 meters to test a small
geological IP target outside and west of a larger IP anomaly. This
target proved to be a pyrite halo zone in andesite rock. Anomalous
gold values were returned in assays.
DDH 99-02 - drilled vertically, to 250 meters approximately 200
meters east of DDH 99-01, on the edge of a large IP anomaly. This hole
intersected the flank of a granodiorite intrusive, the target rock,
and continued in granodiorite to the depth of the hole. At a depth of
100 meters, sulfide mineralization includes pyrite, molybdenite and
chalcopyrite. Assays confirm the presence of copper and gold in low,
but significant, values over a continuous thickness of approximately
140 meters (462 feet).
DDH 99-03 - drilled vertically to 297.5 meters, approximately 250
meters southwest of DDH 99-02, at the centre of the large anomaly.
Continuous breccia, silicification and mineralization including
massive pyrite and chalcopyrite were observed from a depth of 91
meters to the bottom of the hole at 297.5 meters.
DDH 99-04 - drilled 115 meters northeast of DDH 99-03 at an angle
of -60% and was abandoned due to mechanical problems caused by broken
ground, faulting and fracturing that resulted in the loss of four
drill bits. The hole was abandoned at 210 meters. Assays confirm the
presence of copper and gold in low, but significant values over a core
length of approximately 182 meters.
DDH 99-05 - drilled vertically to 348 meters, 25 meters southwest
of DDH 99-03. Significant gold/copper mineralization was encountered
from 103 to 288 meters (610 feet).
DDH 99-06 - drilled vertically to 293 meters, 25 meters north of
DDH 99-03. Continuous breccia, silicification and chalcopyrite
mineralization was observed from a depth of 38 meters to 189 meters.
All assay work is contracted to a North American lab, Acme
Analytical. Verification assays are done routinely and immediately.
Pulps from the assays have been retained and half of the drill core
for analysis and inspection.
Drilling continues at Alto de Lipangue to test the continuity
along strike. In addition, Medinah is currently drilling its first
holes on the Las Dos Marias. Two holes have been completed and will be
released when available.
Medinah Energy, Inc. explores for gold properties that have the
potential to host sizeable ore deposits. Its principal asset is the
newly discovered Alto de Lipangue property in Chile. In addition, the
Company holds significant land holdings in the Andacollo region of
Chile adjacent to Dayton mining's Andacollo mine. The Company's shares
trade on the OTC Bulletin Board under symbol "MDIN".
Note: This News Release may contain certain "forward-looking
statements" within the meaning of the United States Securities
Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of
Medinah Energy, Inc. are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future
could differ materially from those anticipates in such statements.
Important factors that could cause actual results to differ materially
from the Company's expectations are disclosed under the heading "Risk
Factors" and elsewhere in documents filed from time to time with the
United States Securities and Exchange Commission and other regulatory
authorities.
--30--sdg/ny*
CONTACT: RGM Communications Inc.
1-800-547-9375
web site: http:/www.medinahenergy.com/
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