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Gold/Mining/Energy : GEOMAQUE -- Ignore unavailable to you. Want to Upgrade?

To: Bat Man who wrote (231)	4/16/2001 11:31:34 PM
From: Bat Man	Read Replies (1) \| Respond to of 260

ositive Drill Results Continue at Geomaque's Marathon Palladium Project Program results exceed expectations, identify areas for further exploration TSE Symbol: GEO TORONTO, April 16 /CNW/ - Geomaque Explorations Ltd. today announced drill results from the final three drill holes in its 15-hole, 3,000 metre exploration and infill drilling program at the Marathon Palladium Project, located 10 kilometres north of Marathon, Ontario. Hole G13 extended by 250 metres to the south the near-surface zone of oxide mineralization identified in hole G7, which was previously released. Holes G14, an infill hole, and G15, collared outside the known mineralized zone, both returned wider intercepts than expected based on previous results. A drill hole location map is available on the Company's website at www.geomaque.com, as are all past press releases regarding the Marathon Palladium Project. Significant assays from holes 13 through 15 are: << ------------------------------------------------------------------------- Interval True Hole From-To Thickness Palladium Platinum Pd+Pt Copper No. Section (m) (m) (g/t) (g/t) (g/t) (%) ------------------------------------------------------------------------- G13 5575 7-13 6 0.44 0.08 0.52 0.06 ------------------------------------------------------------------------- G14 5250 192-306 114 0.55 0.14 0.69 0.25 ------------------------------------------------------------------------- Incl. 192-200 8 0.98 0.18 1.16 0.26 ------------------------------------------------------------------------- Incl. 204-216 12 0.79 0.21 1.00 0.20 ------------------------------------------------------------------------- Incl. 264-306 42 0.73 0.18 0.91 0.39 ------------------------------------------------------------------------- G15 5350 129-183 54 0.71 0.17 0.88 0.29 ------------------------------------------------------------------------- Incl. 133-151 18 0.98 0.22 1.20 0.35 ------------------------------------------------------------------------- Incl. 169-183 14 0.92 0.21 1.13 0.45 ------------------------------------------------------------------------- >> "Overall, the results from this round of drilling have been positive," said Phillip Walford, Vice-President, Exploration. "Through this work we've greatly increased our understanding of the deposit, knowledge which will be a great help with modeling of the deposit and future drilling, both exploration and infill." With the completion of the initial drill campaign, Geomaque plans to follow up with a spring exploration program. Activities will include ground geophysics, mapping and prospecting, principally to evaluate areas to the west and south along strike where only preliminary work has been done by past operators. A Preliminary Assessment of the Marathon Palladium Deposit's economics under current market conditions has been completed. The results of this study will be released on Wednesday April 18, 2001. A presentation to discuss the findings of the Preliminary Assessment will be held on April 18 at 4:00 p.m. in the Engineers' Room of the Ontario Club, 5th Floor, Commerce Court Tower South, Toronto, Ontario. Joining Geomaque will be Vanessa Motto, Associate Director of Marketing and Research at CPM Group, who will discuss why stronger demand and higher prices for platinum group metals are likely to persist longer than the market currently expects. Geomaque Explorations Ltd. is an international mining company that is producing gold from its Vueltas del Rio Mine in Honduras and San Francisco Mine in Mexico, and exploring for precious metals in the Americas. To view maps pertaining to this release, visit: geomaque.com