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Gold/Mining/Energy : United Tex-Sol Mines (ASE:UTX.A) -- Ignore unavailable to you. Want to Upgrade?

To: Stan Treacher who wrote (359)	2/3/2000 6:55:00 PM
From: Just G	Read Replies (1) \| Respond to of 527

United Tex-Sol Clavos drilling results United Tex-Sol Mines Inc UTX.A Shares issued 18,032,896 Feb 2 close $0.25 Thu 3 Feb 2000 News Release Mr. John Ricci reports United Tex-Sol and Kinross Gold have received assay results from the drill program at the Clavos Gold property located in Timmins, Ont. Drill holes KC-99-144, 147, 148 and 150 were located to mainly test the down plunge extension of the Sediment zone, as well as being used to test the HW and FW zones. The balance of the holes mainly targeted the HW and FW zones along a shallow, easterly plunge line. Drill hole KC-99-153 intersected a new zone within the sediments (not part of the Sediment zone) which comprises interbedded pyrite and argillite. The following are the significant assays of the drilling completed in late 1999 which forms the final holes of 19,100 metres to fulfil the drilling requirements pursuant to the Aur Resources agreement. The significant assay results as compiled by Kinross Gold and United Tex-Sol are as follows: Hole From To Width Assay m m m g/t KC-99-142 681.76 684.07 2.31 2.26 701.84 702.74 0.90 8.36 740.41 742.36 1.95 1.75 KC-99-143 405.6 407.3 1.7 2.14 includes 405.6 406.0 0.4 7.99 449.8 451.6 1.8 0.96 KC-99-144 308.2 310.8 2.6 1.41 320.4 323.75 3.35 2.98 KC-99-145 469.96 472.46 2.5 2.66 527.98 529.14 1.16 4.36 579.94 581.42 1.48 3.23 582.85 585.02 2.17 2.29 KC-99-146 440.0 441.9 1.9 2.43 440.0 440.5 0.5 7.87 458.5 459.0 0.5 3.25 KC-99-148 281.5 283 1.5 6.92 includes 282 282.5 0.5 19.93 345.0 348.5 3.5 8.79 includes 346.1 347.8 1.7 13.27 383.6 387.1 3.5 3.22 includes 384.6 386.1 1.5 5.04 KC-99-149 447.5 449.6 2.1 6.38 includes 448.5 449.6 1.1 8.62 525.17 528.02 2.85 7.07 includes 527.17 527.37 1.216.52 528.02 529.92 1.9 1.94 includes 529.52 529.92 0.48.82 V.G. KC-99-150 184.2 185.9 1.7 3.22 includes 184.7 185.1 0.4 12.57 244.7 246.7 2.0 4.88 includes 244.7 245.5 0.8 9.12 KC-99-151 419.45 425.3 5.85 1.22 428.3 430.1 1.8 1.23 KC-99-153 181.7 186.3 4.6 6.44 includes 181.7 183.2 1.5 14.7 427.66 428.91 1.25 2.6 514.0 515.5 1.5 2.93 515.5 517.25 1.75 1.75 * Assays reported are greater than one gram per tonne and were performed by Swastika Labs Inc. using a one-assay-ton sample Currently one drill rig is drilling in order to complete the final 1,000 metres of the current program and to fulfil the final requirements of the Aur agreement at which time the company will have earned 100 per cent of the Clavos property subject only to a net smelter royalty. To date of this writing 19,600 metres of the 20,000 metres have been drilled and the balance should be completed by Feb. 14, 2000. On Jan. 25, 2000, the company repaid the outstanding convertible debenture, which was issued December, 1998, in the amount of $500,000 plus outstanding interest. The repayment ($544,828.76) which was satisfied by the conversion of a portion into 993,182 common shares ($124,147.71) of the company and the balance was repaid in cash ($420,681.05). (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com