Tue May 25, 1999
Leonardo Property Dropped
Symbol: RRL-V
Rocca Resources Ltd. (‘the Company’) would like to announce
that it has terminated its option on the oil-shale and bentonite property in
Mendoza, Argentina known as the Mine Leonardo. The Company maintains its
interest in their three gold properties, the AU claims (Merritt, B.C.), and the
AuByrd and Comm claims (Crowsnest Pass area, B.C.).
The Aubyrd 1 to 3 claims encompass approximately 10 square kilometers and
are contiguous with and immediately south of the Crowsnest Property of
International Curator Resources Ltd. and Eastfield Resources Ltd. where
exploration has outlined a large system of alkaline intrusions with broad
exploration potential. Grab samples of magnetite rich, intrusive breccia
averaged 8 grams per tonne gold with values as high as 630 grams per tonne
from the Crowsnest Property. COMM 1 to 4, encompass 20 square kilometers
near Commerce Peak and are approximately five kilometers from the
Crowsnest discovery. The COMM claims are underlain by rocks of the Purcell
Series, a Proterozoic aged assemblage of clastic sediments, dolomites and
andesitic lava flows; which have been intruded by Cretaceous alkaline plutonic
rocks. Previous reconnaissance type exploration in the area outlined three
major types of mineralization: copper-silver within quartzites and redbeds, gold
and silver associated with Cretaceous and intrusive rocks, with reported gold
values of over 34.28 grams per tonne gold and copper sulphide bearing quartz
carbonate veinlets crosscutting the Grinnell and Siyeh Formations. These
claims cover a complete aeromagnetic anomaly that coincides with a system
of alkaline intrusions.
The creation of a subsidiary (Commerce Resources Corp.) and the subsequent
dividend as described in the Company release dated May 11, 1999 is still
planned.
Rocca Resources is committed to maximizing shareholder value and as such
is considering all investment opportunities. As soon as there is a development
on any of these fronts, news will be released.
By mutual agreement, the investor relations contract with Barton Lawrence has
been cancelled.
ON BEHALF OF THE BOARD OF DIRECTOR
"David Hodge"
David Hodge
President
Rocca Resources Ltd. |
