Dennis and All: GREAT NEWS RELEASE!!! March 10/97 8:51 AM Mill City
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MILL CITY GOLD MINING CORP.
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Web Site: www.millcitygold.com 11012 Macleod Trail S.E., Ste. 725
E-Mail: millcity@cadvision.com Calgary, Alberta T2J 6A5
JOINT NEWS RELEASE
ADDITIONAL OUNCES OF GOLD DRILL INDICATED AT TYRANITE
CALGARY, ALBERTA, March 10, 1997 - MILL CITY GOLD MINING CORP. (MIY-VSE)
and TYRANEX GOLD INC. (TXGI-CDN) are pleased to announce an additional
drill indicated resource of 28,950 ounces gold (in addition to the 60,000
ounce gold reserve and 164,615 ounce drill indicated gold resource) at the
Tyranite Mine near Gowganda, Ontario.
Confirming extensive strike length in the main zone at the 1125 foot level,
diamond drill holes 97-90 and 97-91 spaced 200 feet apart were recently
completed along strike 700 feet and 500 feet north of the shaft respectively.
Diamond drill hole 97-90 intersected 8 feet of 0.141 ounces gold per ton.
Diamond drill hole 97-91 intersected 35.3 feet of 0.126 ounces gold per ton
which includes 1.3 feet of 0.275 ounces gold per ton, 5.3 feet of 0.184
ounces gold per ton, and 15 feet of 0.155 ounces gold per ton.
Along with the 1996 and earlier drill results, these holes confirm a gentle
raking W 25 degree zone of mineralization which extends from 6N to 4S,
currently 1000 feet. Open along strike at depth the structure will now be
diamond drill tested between hole 97-91 and the shaft, then along strike
south of the shaft at depth.
Drill core including the 5.93 ounces gold per ton intersected in the Duggan
Zone open pit along with a complete property data base will be available
for viewing at the PDAC booth 1619. The property data base is also
available at www.metex.com.txgi
FOR FURTHER INFORMATION PLEASE CONTACT:
Mill City Gold Mining Corp. Tyranex Gold Inc.
Larry D. Revitt, President Thomas A. Smeenk, President
James R. Brown, Chairman Robert D. Cudney, Chairman
Tel: (403) 278-8500 Tel: (416) 865-9024
Fax: (403) 278-8580 Fax: (416) 865-9386
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Well I was hoping for some great news like this and here we have it, and get this, the share price is up .02 and on increased volume of 164,000 shares!!
Finally somebody else has seen some real value in Mill City after more than nine good news release since the new year. I think we will be sure to see the effect of the promotional campaign start to get us heading up in share price. $.50 in the next week or two should be realized IMHO then away we go as additional good news comes in.
Best of Health and Wealth, Ron.
P.S. Anyone else care to speculate on the effect this Great News will have on the share price? |
