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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Mike who wrote (2110)	1/5/1998 11:45:00 AM
From: Lamont	Read Replies (1) \| Respond to of 4718

Antares Mining and Exploration Corp ANZ Shares issued 18992219 1998-01-02 close $0.46 Monday Jan 5 1998 Also Coleville Resources Ltd (CLL) Mr Dennis Gray reports The preliminary gold equivalent geological resource defined so far at the 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/t gold and 120 g/t 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% of the precious metal value of the resource versus 18% for gold. Silver values encountered have been consistently higher than gold. The highest grade holes recorded in December were: Hole Interval Width Au Ag AuEq m m g/t g/t g/t RTH 024 4.00-8.00 4.00 1.05 558 12.68 RTH 025 21.00-26.00 5.00 0.45 316 7.03 JAMBI ZONE Based on drilling completed to date on the Jambi zone, a preliminary geological resource of 192,270 ounces of gold and 1,975,372 ounces of silver has been defined represented by 4,096,000 tonnes of oxidized mineralization grading 1.46 g/t gold and 15 g/t silver resulting in a gold equivalent resource of 233,424 ounces. The Jambi anomaly has a target zone in excess of 1,900 metres in length of which only approximately one third has been drilled to date. The highest grade holes recorded in December were: Hole Interval Width Au Ag AuEq m m g/t g/t g/t JDH 018 0-17 17 1.78 7.00 1.93 JDH 021 0-95 95 1.17 6.00 1.30 WUJUN ZONE The Wujun zone is approximately 1,000 metres to the west and parallel to the Tambang zone. The first hole drilled on the Wujun zone yielded the following promising results indicating that elevated silver values may also exist on this zone: Hole Interval Width Au Ag AuEq m m g/t g/t g/t WUJ 001 31-46 15 0.43 53 1.53 Based on the surface expression of the vein, Wujun presents an exciting target as it appears to be of a larger magnitude than Tambang, with a strike length estimated to exceed 2,500 metres with a surface width of up to 200 metres. KRESNA ZONE Surveying, mapping, auger drilling and channel sampling of this zone have been completed. The Kresna zone has been interpreted to be in excess of 500 metres long and 40 metres wide with good depth potential. The Kresna zone is considered an exciting prospect because it has radiometric and magnetic signatures suggesting that this zone is adjacent to a large intrusive body. Diamond drilling has commenced on this zone. Three drill rigs are currently operating on the Ojolali property. These rigs are at Tambang, Jambi and Kresna. The mandate with respect to these drills is to concentrate on those areas of the property with the highest probability of adding shareholder value by increasing the resource base. In addition to Antares' 76.5% ownership of the Ojolali property, carried interests in the property are held by Coleville Resources and Indonesian partners of 13.5% and 10% respectively. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)