Dennis, Eddy & All: Yet Another Excellent News Release Out Today!!!
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: GOLDEN HILL MINING CORP.
CANADIAN DEALING NETWORK SYMBOL: GHMC
AND MILL CITY GOLD MINING CORP.
VSE SYMBOL: MIY
MARCH 12, 1997
Two New Gold Oxide Zones Discovered at Golden Hill, Cuba
CALGARY, ALBERTA--GOLDEN HILL MINING CORP. (GHMC-CDN) and MILL
CITY GOLD MINING CORP. (MIY-VSE) are pleased to announce that the
exploration programs of MacDonald Mines Exploration Ltd.
(MMP.A-ASE) in Cuba, continue to expand estimates of the gold and
copper resources there.
Analytical results for 27 new drill holes have been received for
the Three Hills zone. These holes have been successful in
discovering two new gold oxide bodies. Hole GH-167 located some
100 metres (328 feet) east of the main oxide zone returned 22.90
metres (75 feet) averaging 3.61 g/t gold (0.105 oz/ton). In
addition, holes GH-164 to GH-166 drilled some 200 metres (656
feet) towards the east-southeast in the area of GH-121 (0.61 g/t
gold over 7.65 metres) all returned similar grades and widths of
mineralization as in hole GH-121. Both these zones remain open
and further drilling is planned to define their full extent.
Definition drilling in and around the main Three Hills gold oxide
zone has doubled the strike length of the mineralized body which
still remains open towards the west. The zone has also been
expanded to the north and south. Highlights include hole GH-153
which returned 22.73 metres (74.6 feet) of oxide mineralization
grading 2.89 g/t gold (0.083 oz/ton). Further drilling is planned
towards the west to define the full strike extent of the oxide
mineralization.
A significant increase in the tonnage of the underlying sulphide
body has also been confirmed at Three Hills. This zone has been
extended some 100 metres (328 feet) to the east and remains open
towards the east and at depth. Hole GH-170 returned 51.05 metres
(167.5 feet) averaging 2.35 g/t gold (0.069 oz/ton) and 0.25
percent Cu in massive and semi-massive sulphides. Additional
wide-spaced drilling is planned to further define the eastern
limits of the sulphide body.
The first exploration drilling in the Maclama area has been
completed; the results for these holes are pending and will be
released when they become available. The drill is currently being
moved back to Three Hills to follow up on these current results.
Operator MacDonald Mines is conducting the ongoing exploration
program at the Golden Hill epithermal gold discovery, in
east-central Cuba, on behalf of partners GeoMinera S.A., a Cuban
state agency, and Golden Hill Mining Corp. Mill City currently
owns approximately 42 percent of the Shares of Golden Hill.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Golden Hill Mining Corp.
Larry D. Revitt
Vice-President, General Counsel
(403) 278-8500
(403) 278-8580 (FAX)
or
MacDonald Mines Exploration Ltd.
Tom Smeenk
Shareholder Relations
(416) 865-1625
(416) 965-9386 (FAX)
or
Mill City Gold Mining Corp.
Larry D. Revitt
President
(403) 278-8500
(403) 278-8580 (FAX)
www.millcitygold.com
millcity@cadvision.com (E-Mail)
None of the ASE, VSE or CDN have approved the information
contained herein.
INDUSTRY: MNG
SUBJECT: MEX
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I don't know about everyone else out there but............IMHO this stock has got to be ready to explode! How can we have all this GREAT NEWS and not go BOOM?
Comments would be appreciated and helpful.
Good Luck to all, Ron. |
