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Gold/Mining/Energy : International Larder-Symbol LRDR on the CDN -- Ignore unavailable to you. Want to Upgrade?

To: Midas who wrote (264)	9/20/2000 4:22:49 PM
From: Midas	Read Replies (1) \| Respond to of 278

Hello Folks: I found this on E.News "http://www.isdnwire.com/en/index.html" and thought it might be of interest. There are also a couple of figures with the press release. Midas Prospectors Alliance Corporation - New Discovery Results At Halfmoon Lake Toronto, Ontario - Wednesday, September 20, 2000, 1:41 PM EDT Prospectors Alliance Corporation (PALL - CDN Toronto, 21,116,121 outstanding shares) and its merger partner Explorers Alliance Corporation ("Explorers") are pleased to report on the results of exploration activities at their Halfmoon Lake Property held through Explorers' Joint Venture with Falconbridge Limited (FL - TSE). Under the terms of the Joint Venture PALL/Explorers has earned a 12.5% interest and can earn up to a 50% interest by meeting future expenditure commitments. Recent drilling by PALL/Explorers on the Halfmoon Project in Robb Township, 25 km north-west of Timmins, Ontario, has expanded a base-metal mineralized zone of semi-massive to massive sulphides. The mineralized zone has a minimum length of 200 metres along strike, and occurs at or near the contact between altered mafic volcanic flows and felsic tuffaceous rocks. The mineralization occurs as sphalerite, chalcopyrite and galena, which occur together with pyrite and minor pyrrhotite. Pyrite and sphalerite also occur up to several metres below and above the main mineralized horizon. In the present program, PALL/Explorers have completed five holes totalling 839 metres, with a sixth hole still in progress at 210 metres (HM00-42). The following table summarizes the results of this program. All mineralized intervals (metres) are reported as drilled lengths. Detailed assay results are contained in the attached Table 1. The drill core was split at the Companies' facilities in Timmins, Ontario and was assayed at Swastika Laboratories in Swastika, Ontario. Hole No. From To Length Cu Zn Pb Ag Au (m) (m) (m) % % % g/t g/t HM00-37 85.1 87.8 2.7 0.12 0.33 0.13 2.9 trace HM00-38 151.5 153.8 2.3 0.24 13.68 0.04 5.8 0.10 158.3 160.65 2.35 0.06 2.76 0.13 4.2 0.28 HM00-39 No significant assays HM00-40 100.1 102.1 2.0 0.11 1.70 0.01 2.5 0.07 HM00-41 58.9 61.9 3.0 0.99 5.44 0.24 24.9 0.34 Parts of the mineralized zone contain interbanded sphalerite and pyrite, with the best intersection containing 13.68 % Zn over 2.3 metres in hole HM00-38. In hole HM00-41, an assay interval of 0.40 metres contained 5.9 % Cu, 103.4 g/t Ag and 0.65 ppm Au, which represents the highest values of these metals encountered to date. This interval was preceeded directly by 0.70 m containing 17.39 % Zn. Drill hole HM00-42, which is in progress, has located the mineralized horizon and is currently drilling in an underlying altered zone containing massive bands or veins of pyrite up to 30 cm across. Lithogeochemical and stratigraphic studies of the Halfmoon Lake Property are being carried out by Dr. Tim Barrett of Ore Systems Consulting, who was involved in the present program. On the basis of these studies, stratigraphic and hydrothermal alteration trends across the property are being established. These results, in conjunction with geophysical surveys, will be used to locate further drill targets. In the current working model, the volcanic rocks form a southward-younging sequence comprising mafic pillow lavas which are stratigraphically overlain by massive to bedded sulphide mineralization, then felsic tuffaceous rocks (see attached map). The upper mafic lavas are strongly altered and contain sulphide veins, and are interpreted as stockwork zones. The lower part of the felsic tuffaceous interval, which hosts the mineralization, is strongly chlorite-sericite-altered. Further to the south are massive rhyolites, which may form the upper hangingwall (they are cut by a mafic intrusive mass). The mineralized horizon is projected to continue along strike on the eastern side of the north-south dyke shown in the accompanying map; this eastern area is essentially untested. The mineralized horizon is also untested in the downdip direction below a subsurface depth of about 150 metres. Interpretation by Dr. Barrett of initial lithogeochemical data indicate that the rhyolitic tuffs which host the mineralized horizon are chemically comparable to the Lower Rhyolite unit at Kidd Creek. PALL/Explorers are very encouraged by the recent program, which has demonstrated that the mineralized horizon has the potential to host high grades of Zn, Cu and Ag, and that the location of this horizon is not only stratigraphically controlled but is fairly predictable in its orientation. Following completion of drill hole HM00-42, the Companies plan to complete downhole geophysical surveys on selected holes, as well as induced polarization surveys to expand the mineralized horizon along strike. PALL/Explorers are in the process of finalizing financing negotiations with respect to their previously announced amalgamation with International Larder Minerals Inc. (LRDR - CDN Toronto) and two other "private" companies, 1338756 Ontario Inc. and 1232448 Ontario Inc. Further developments leading to closing of this transaction are expected to be announced shortly. For further information, please contact: Jean-Claude Bonhomme, President and CEO, PALL or Garry R. Stein, Vice-President, Chief Financial Officer and Secretary, PALL