To: Stockwatcher who wrote (116 ) 11/4/1997 8:37:00 PM From: GOLDIGER Read Replies (1) | Respond to of 135
Hi Steve, NEW RELEASE Adamas Resources Corp - Nevada property results Adamas Resources Corp AMS Shares issued 7617989 1997-11-03 close $0.21 Tuesday Nov 4 1997 See GLS Global Assets Ltd (GLO) News Release Mr S. Cedric Steele reports GLS Global Assets and Adamas Resources have received encouraging results from their due diligence surface channel sampling program undertaken in October on the Hydra-Hercules gold and silver property, Nevada. The property is deemed to have excellent potential for hosting epithermal, bulk tonnage, low grade deposit. Since 1984, over US$2,000,000 has been spent on exploration (includes over 34,000 feet of drilling) by several mining companies, some of which include Asamara, Horizon Gold, St Joe Minerals and Phelps-Dodge. A geological resource amenable to open pit mining methods has been estimated by previous operators to be between 170,000 and 213,000 ounces of gold and over 1.5 million ounces of silver. The resource is hosted within open structures that have a known surface strike of over 9,000 feet. The current due diligence channel sampling has confirmed previous operator's sampling results. This lends credence to reported drill results and yields a higher level of confidence to the above quoted calculations. The following channel samples were taken by David Shaddrick, an independent geologist retained by GLS. All samples were fire assayed at Bondar-Clegg in Reno, Nevada. No. Width Av Gold Av Silver Value Value Tom's Knobs 2 32.5 ft 0.062 oz/ST 0.336 oz/ST D Zone 7 5.1 ft 0.051 oz/ST 1.370 oz/ST E Zone 4 4.9 ft 0.035 oz/ST 0.427 oz/ST A Zone 3 34.7 ft 0.013 oz/ST 0.231 oz/ST The Tom's Knobs zone returned the most impressive values. This area lies near the interpreted junction of two major northerly trending auriferous structures. A northern extension to the system is implied by anomalous gold in soils (25-140 ppb gold) yielding a possible 1,700 feet strike length to the Tom's Knob system. This area is a high priority, inadequately tested exploration target. Potential for the property to host a million plus ounce gold deposit is excellent. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com GOLDIGER.