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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. -- Ignore unavailable to you. Want to Upgrade?

To: alan holman who wrote (27656)	1/5/1998 2:10:00 PM
From: alan holman	Read Replies (1) \| Respond to of 28369

Antares Gold Equivalent Resource Increases to 706,000 Ounces At Ojolali Property Business Wire - January 05, 1998 12:08 %ANTARES-MINING-AND-E ANZ. %NEW-YORK %MINING %METALS V%BW P%BW TORONTO--(BUSINESS WIRE)--Jan. 5, 1998--Antares Mining and E (TSE:ANZ.) Antares wishes to announce that the preliminary gold equivalent geological resource defined so far at its 31,644 hectares Ojolali property in Sumatra, Indonesia has increased to 706,000 ounces. This resource is based on the partial drilling of only two of the 34 known mineralized zones. To date 11,209 metres of core drilling have been completed. TAMBANG ZONE Drilling to date on the first 1,800 metres of the 2,900 metres long Tambang zone has defined a preliminary geological resource of 18,526,830 ounces of silver and 86,459 ounces of gold represented by 4,802,000 tonnes of quartz sulphide mineralization grading 0.56 g/tonne gold and 120 g/tonne silver. Using a 48:1 silver/gold conversion ratio, this results in a preliminary gold equivalent geological resource of 472,435 ounces. The value of silver contained in the resource identified to date far exceeds the value of gold with silver accounting for 82 percent of the precious metal value of the resource versus 18 percent for gold. Silver values encountered have been consistently higher than gold.