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Strategies & Market Trends : Alamos Gold -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (1599)	2/26/2002 2:28:20 PM
From: Stephen O	Respond to of 4470

IMN - T In the news in Australia, not in Canada PIL:New copper-zinc-silver massive sulphide disc at TeutonicBore 2002-02-25 18:20 (New York) PILBARA MINES LIMITED 2002-02-26 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ Pilbara Mines Ltd (Pilbara), (ASX: PIL) announces the discovery of significant copper-zinc massive sulphide mineralisation 4km south of the historic Teutonic Bore base metal mine at the Teutonic Bore JV project, located 260km north of Kalgoorlie, 60km north of Leonora, in Western Australia. Pilbara holds a 100% interest in the JV whilst Inmet Mining (Australia) Pty Ltd (Inmet), is earning a 70% interest and is the manager of the joint venture. Electro-magnetic (TEM) geophysical surveys carried out during 2001 delineated a number of EM conductors. Inmet have recently completed two diamond drill holes (TBD 0201 and 0202) to investigate the source for one of the higher priority targets. Diamond drill hole TBD 0202 intersected 7.70 metres of massive sulphides grading 4.28% copper, 16.05% zinc, 0.76% lead and 173 grams per tonne silver at a vertical depth of 450 metres. The two holes were drilled 600 meters apart centered on a single surface transient electromagnetic anomaly of approximately 1800 meters of strike length. The anomaly is hosted by the same package of mafic and hydrothermally altered felsic volcanics that contained the former Teutonic Bore Mine, some 4.0km to the north. The first hole, TBD0201 collared at -72 degrees on section 56500N, intersected from 433.9 to 439.7m, 5.8m (core length) of interbedded mafic volcanic and conductive graphitic shale, which contained anomalous copper and zinc values. The second hole, TBD 0202 collared at -70 degrees on section 55900N, intersected massive sulphide mineralization from 485.45 to 493.15m. The detailed assays are summarized in the following table: FROM TO INTERVAL CU ZN PB AG AU (m) (m) (m) % % % g/t g/t 485.45 486.25 0.80 1.47 21.20 0.20 110 0.10 486.25 487.20 0.95 7.98 16.80 0.11 195 0.46 487.20 487.80 0.60 13.50 11.50 0.17 250 0.16 487.80 488.80 1.00 2.25 17.50 1.52 230 0.19 488.80 489.90 1.10 1.77 15.20 0.86 100 0.24 489.90 490.80 0.90 2.16 17.00 1.02 135 0.31 490.80 491.90 1.10 3.52 18.00 1.21 175 0.20 491.90 492.75 0.85 2.89 12.70 0.78 235 0.30 492.75 493.15 0.40 9.11 9.20 0.27 145 0.13 Hole TBD 0202 The intervals quoted are core length since true thickness cannot be estimated with any degree of certainty at this time. It should be noted that whilst this is a very encouraging discovery of high tenor base metal massive sulphides, further drilling is now required to determine the extent of the mineralisation. Inmet plans to further test the area of TBD 0202 with additional holes to be drilled at 100 metre step outs from the discovery hole. This follow up drilling will soon be underway with two rigs. A second diamond rig is currently testing a strong EM. conductor 10km to the south. The Teutonic Bore property includes the former Teutonic Bore mine which operated between 1980 and 1985 and produced 1.5 Mt @ 3.61% Cu, 11.44% Zn and 167g/t Ag from a volcanogenic massive sulphide deposit. In addition, the property covers approximately 35 kilometers of volcanic hosting stratigraphy and is approximately 20km south of the recently announced Waterloo massive nickel sulphide discovery and the 2 million ounce Thunderbox gold project (Dalrymple Resources NL). Inmet is a Canadian based international mining company. Inmet's mining operations produce copper, zinc and gold, and Inmet's growth strategy is focused on finding quality base metal reserves. Inmet's current operating base consists of three competitive mining operations: Cayeli, Troilus and Ok Tedi. John M Davis Tel: +61 8 9322 9999 MANAGING DIRECTOR email:info@pilbaramines.com.au Pilbara Mines Ltd Web: www.pilbaramines.com.au NOTES: 1) Assays were performed by Ultra Trace Analytical in Canning Vale, WA, using standard analytical methods. 2) Tan R Morrison P Geo, an Inmet Senior Geologist with 14 years of relevant experience, is the qualified person under National Instruments 43-101 responsible for designing and conducting the exploration program and has visually verified the base metal assays. Check assays to verify the precious metals assays are pending. 3) John M Davis, Mem AIMM, AIG has more than 20 years experience in the mining industry and qualifies as a competent person under the JORC Code. 4) Average assays have been determined by weighting individual assays by their corresponding interval width.