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Gold/Mining/Energy : Idaho consolidated, IDO listed on V.S.E. -- Ignore unavailable to you. Want to Upgrade?

To: dean poets who wrote (73)	8/11/1999 8:33:00 AM
From: tanoose	Read Replies (1) \| Respond to of 112

Hello to all; NEWSRELEASE Idaho Consolidated conducts exploration program on Stillwater properties Idaho Consolidated Metals Corp IDO Shares issued 9,434,650 Aug 10 close $0.32 Wed 11 Aug 99 News Release Mr. Del Steiner reports The exploration for platinum and palladium on the company's properties on the Stillwater complex is well under way. The program consists of detailed mapping, sampling and geophysics, with an estimated budget of $500,000 (U.S.). The exploration is being conducted on four project areas: Black Butte, east of the Stillwater River, along the Banded Series, which hosts the JM Reef; Picket Pin covering a 12-mile strike length along the Picket Pin sulphide horizon which is stratigraphically higher and parallel to the JM Reef; Chrome Mountain over the chromite horizons in the Frog Pond area, which is currently the target of a substantial expansion (East Boulder project) by Stillwater Mining Co.; Blakely Creek has a seven-mile strike length parallel to the JM Reef and is stratigraphically lower. Mapping and sampling has commenced in the Black Butte project area and has been successful in locating the Troctolite (olivine-rich) horizon. The horizon is host to the JM Reef, which is currently producing approximately 500,000 ounces of combined platinum and palladium from the Stillwater mine, operated by the Stillwater Mining Co. The Troctolite zone projects under glacial cover onto claims owned by Idaho Consolidated Metals. To trace the zone beneath the cover, a magnetometer geophysical survey was conducted by Gradient Geophysics of Missoula, Mont. The final report is expected soon, although the preliminary results indicate that this program delineated the zone under gravels to Fishtail Creek east of Black Butte. This is the best indication to-date of an easterly extension of the JM Reef zone beyond Black Butte. The Picket Pin area is also a high-priority area and a mapping and sampling program has commenced. This program is designed to determine the continuity and grade of the zone, with initial assays returning values as high as eight-gram combined platinum and palladium. The zone exhibits better continuity than previously thought. A zone of sulphide-rich Troctolite has been traced east of Picket Pin mountain and is up to 30 feet wide dipping steeply (-70 degrees) to the northeast. The PGE's are generally associated with the sulphides, but at less than a 100 per cent correlation and the PGE's seem to occur in a recessive unit directly below the Troctolite. This makes exploration challenging and the company is considering geophysics to delineate the zone. The additional areas, Chrome Mountain and Blakely Creek, adjoin each other and the targets are structural offsets of the JM Reef in the Blakely Creek area as well as followup work on the Pine claim near Chrome Mountain. Historic results from the Pine claim returned values as high as one ounce per ton platinum, and therefore this area is also a high priority. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com With regards,Frank