Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Gold who wrote (18344)	8/23/1999 9:24:00 AM
From: OFW	Respond to of 25548

LAKE ELSINORE, Calif.--(BUSINESS WIRE)--Aug. 23, 1999--Medinah Mining, Inc. issues the following summary audit statement of findings as prepared by Mr. Robert Cinits, Managing Geological Consultant for Howe Chile Ltda., a subsidiary of ACA Howe International. "Medinah's Lipangue and Dos Marias properties represent excellent targets to host large tonnage, bulk mineable gold and/or copper/silver mineralization at relatively shallow depths and these targets remain open in most directions and could be larger in extent than currently exposed." The basis for Howe Chile Ltda. conclusions were arrived at upon examination of the IP studies, geophysical exploration, and drilling programs conducted under the supervision of Gordon House, P.Geo. in 1998 and 1999. Discovery of significant gold-copper breccia pipe Early stage exploration by Medinah over the Lipangue property area uncovered a significant gold-copper mineralized hydrothermal breccia pipe that outcrops on surface over an area of about 150 by 100 meters and has been traced by diamond drilling. An IP Resistivity survey indicates that the breccia continues as an east plunging body at least another 400 meters. The copper mineralization appears to be primary, associated with chalcopyrite; however, significant quantities of secondary enrichment chalcocite were observed. The Lipangue breccia area also hosts gold-bearing quartz veins that have not been explored by Medinah. Typically, these veins are narrow but are often very high-grade. Sections of these veins reportedly graded as high as 50-100 grams of gold/tonne. 50-100 Meters wide plus 700 meters gold bearing shear zone The first three phases of work at Las Dos Marias have uncovered a northwest trending, 50-100 meter wide auriferous (gold bearing) shear zone that can be traced on surface approximately 700 meters and remains open in all directions. This target has been explored on a preliminary basis, including two widely spaced drill holes. Analytical results of two 1-meter samples taken by Medinah yielded 61.77 and 122.2 grams of gold/tonne. Confirmation sampling of high-grade gold assay A quarter core repeat sample by Howe (sample 51880) of the interval 69-70 meters, returned a spectacular 455.02 grams of gold/tonne. Howe took numerous 1/4 core confirmation samples that were assayed at Howe's direction at an independent laboratory chosen by Howe. The second main target on the Las Dos Marias property occurs as strata-bound or manto replacement skarn copper mineralization. The individual mantos are not more than a few meters thick, but are vertically stacked, copper-rich horizons, throughout the stratographic sequence, the true thickness of which has yet to be determined. Howe makes exhaustive work recommendations to further the exploration and development projects that are now underway and implemented by Gordon House, P.Geo. Included in these recommendations are combined airphoto and landsat structural interpretation, gridding and topography, geophysics and diamond drilling programs for both the Las Dos Marias and Alto de Lipangue projects. A summary of the text of this extensive and corroborating report of the work done by Gordon House, P.Geo and our discoveries in Chile, will be made available on the website. On behalf of the Board of Directors Per: Larry Regis, President For further information, contact RGM Communications Inc. at 1-800-547-9375; 1-800-774-5133; or access the web site at medinahmining.com Note: This News Release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Mining, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. --30--flb/ny* CONTACT: RGM Communications Inc. 1-800-547-9375; 1-800-774-5133 medinahmining.com