NEWS RELEASE: Drilling program to commence at Alaska prospect
Return-Path: <newsout@canada-stockwatch.com>
Date: Tue, 11 Mar 1997 16:44:31 -0800
From: newsout@canada-stockwatch.com
Subject: Stockwatch: Goldminco Mining Corporation - News Release
To: reverest@jetstream.net
Drilling program to commence at Alaska prospect
Goldminco Mining Corporation GMO
Shares issued 12,527,737 Mar 11 close $1.42
Tue 11 Mar 97 News Release
Mr Peter Tambanis reports
According to Dr D.M. Barrett of Barrett Geophysical Exploration Consultants
Pty of Perth, Western Australia, geophysical modeling of the aeromagnetic
data for Goldminco's Alaska prospect indicates that the most likely cause
of the magnetic anomaly at the prospect is a dyke-like body of rock
directly beneath the surface gold anomaly. A less likely interpretation is
that the magnetic anomaly is caused by a slab-like body, at a similar
depth.
This body of rock, if the dyke model is correct, is 380m wide. Its top lies
about 230m below the surface, it extends downwards for a further 2000m, and
dips southwest at about 55 degrees. The strike length of the body is
currently unknown, as are its composition and origin. The overlying surface
geochemical gold anomaly, taking a cutoff level of 10 ppb gold, measures
250m by 100m.
While there is no indication of the extent of mineralization of the rock
between the surface anomaly and the top of the inferred dyke-like body,
this is the primary target zone. The drilling program, which will commence
as soon as the weather permits, will also test the inferred dyke-like body
and its flanks for gold, and to determine the geology.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
The dimensions of this anomoly are confusing to me. Do they mean 2000 meters in depth, how would one know this from an aeromagnetic fly over? Seems positive considering the other known factors.
Any comment?
Best regards,
Ron E |
