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Gold/Mining/Energy : Jilbey Exploration JLB-MSE -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (150)	9/16/1999 9:53:00 AM
From: Buckey	Respond to of 229

Jilbey Exploration Ltd - Celtic and Jilbey terminates option agreement with Rio Algom; commences drill program Jilbey Exploration Ltd JLB Shares issued 14,356,112 1999-09-14 close $0.25 Thursday Sep 16 1999 See Celtic Minerals Ltd (CME) News Release Mr. Kevin Flaherty reports Celtic Minerals Ltd. and Jilbey Enterprises Ltd. have disclosed that the Hungry Hill option agreement with Rio Algom Exploration Inc. has been terminated. The Hungry Hill base metal property comprises 292 claims (7,300 hectares), contiguous to land held by or under option to the following major mining companies: Billiton Exploration Canada Ltd., Noranda, and Phelps Dodge. Celtic also wishes to announce that an 800-metre drill program has commenced on its Skull Hill joint venture, which is held 51 per cent by Billiton and 49 per cent by Celtic. The area being targeted is immediately south of the Lake Bond deposit, which has a defined geological resource of 1.1 million tons grading 2.12 per cent Zn and 0.3 per cent Cu. On the Buchans Junction joint venture with Billiton, a drill program has been completed on the northern portion of the property and assays are pending. A detailed ground geophysical program has been conducted on the southern portion of the Buchans Junction property in an area contiguous to land held by Phelps Dodge. Followup drilling is planned, contingent upon the geophysical survey results.