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

To: lloyd lush who wrote (420)	10/27/1997 1:16:00 PM
From: T.J. McIntosh	Read Replies (1) \| Respond to of 1030

Definition Drill Results Completed for reserve study Here is the News Release that Just came out and I thought that you would be interested ************************************************************************* October 27, 1997 VSE Symbol - GMD U.S. 12g3 Exemption #82-4071 News Release No. 173 Definition Drill Results Completed for Reserve Study The Management of GMD Resource Corp. reports that it has defined diamond drill hole #186 as the cut-off to calculate initial ore reserves/resources on the Ormsby Zone, which is part of GMD's 100% owned Discovery Gold Project in the Northwest Territories, Canada, ninety kilometers (56 miles) from the City of Yellowknife. The Ormsby Zone is open on strike and to depth. These latest results (drill holes 180 - 186 inclusive) continue to show consistant grades and widths. This phase of definition drilling, consisting of 151 diamond drill holes totaling 44,012 metres (144,358 ft), has provided the required data for reserve and resource calculations. Two independent geological consultants, Reedman & Associates and Giroux Consultants Limited, have received all final definition drilling data required for the calculation of mining reserves/resources. These calculations will cover a section of the Ormsby Zone measuring approximately 915 metres (3,000 ft) in length and 61 metres (200 ft) in width, to a depth of 305 metres (1,000 ft). Underground development mining and sub drifting on the Ormsby Prime Vein continues to support surface diamond drill grades and widths. (See News Release # 170 October 10, 1997) These last seven definition drill holes, as it is with all other holes, show multiple zones of economic widths and grades. Twelve notable intercepts are listed below. (See attached tables for detailed intercepts) 3.23 m of 15.43 g/t (10.6 ft of 0.45 opt) 1.95 m of 17.14 g/t (6.4 ft of 0.50 opt) 7.62 m of 13.03 g/t (25.0 ft of 0.38 opt) 2.41 m of 13.03 g/t (7.9 ft of 0.38 opt) 3.35 m of 12.34 g/t (11.0 ft of 0.36 opt) 1.46 m of 13.03 g/t (4.8 ft of 0.38 opt) 0.94 m of 23.31 g/t (3.1 ft of 0.68 opt) 2.29 m of 15.09 g/t (7.5 ft of 0.44 opt) 5.36 m of 13.37 g/t (17.6 ft of 0.39 opt) 8.53 m of 17.14 g/t (28.0 ft of 0.54 opt) 5.43 m of 13.71 g/t (17.8 ft of 0.40 opt) 9.45 m of 18.51 g/t (31.0 ft of 0.54 opt) ("m" for metres; "g/t" for grams per tonne; "ft" for feet and "opt" for ounces per ton) The Ormsby Zone is open on strike and depth. Exploration by surface diamond drilling continues over various areas to identify and extend known mineralized structures and to determine new definition areas for the 1998 winter and spring field seasons. Certain sections of this exploration surface drilling include step-out drilling at 91 metre (300 foot) spacings extending northward in the direction of the Discovery mine shaft. A total of 27 exploration diamond drill holes will complete the 1997 field season. ************************************************************************************* Then the release is followed by three pages of tables with drill results If you wait a bit the full listing will be posted to the web site (http://www.gmd-res.com/news.htm) shortly or if requested I could post them here if you like. Todd McIntosh