To: Keith Morley who wrote (66 ) 2/4/1998 3:41:00 PM From: Keith Morley Read Replies (1) | Respond to of 84
To All - The following New Release was received by E mail today: AMERICA MINERAL FIELDS DISCOVERS SIGNIFICANT COPPER ANOMALY ON ITS 100% OWNED 1500 SQUARE KILOMETRE CONCESSION IN ZAMBIA February 4, 1998 Trading: TSE:AMZ Mr. Robert Stewart, Chairman of America Mineral Fields Inc. (the ACompany@), is pleased to announce that Zamgold Ltd., the Company=s wholly-owned subsidiary, has discovered a significant copper anomaly within its Zambian concession. Zamgold Ltd. has a 100% interest in the 1500 square kilometre concession which was granted by the Zambian government in July 1996. Zamgold has conducted an extensive exploration program with a team of 50 employees, including four geologists. The anomaly is 2 kilometres from the historic Kipushi copper and zinc mine along the fault line associated with the Kipushi fault system. It is elongated, striking northeast for 1.8 kilometres with a varying width of up to 800 metres. The normal background copper values of the soil in this area average 127 parts per million (ppm). The copper values within the anomaly vary from 200 to 700 ppm. Within this anomaly there is an area 1 kilometre by 600 metres with copper values higher than 400 ppm. Preliminary investigations on this anomaly using horizontal loop electromagnetic (EM) and induced polarization (IP) techniques were conducted in December 1997. Modeling of the EM anomalies indicated two sets of conductors. The major set of conductors extends from the southern to the eastern part of the geochemical anomaly, dipping between 30 and 65 degrees to the western part of the geochemical anomaly, dipping about 48 to 60 degrees to the west and occurs between 60 and 90 metres below the surface. These EM anomalies are to the side and parallel to the geochemical anomalies. It should be noted that modeling results are estimates only which assume thin conductive sheets in a perfectly resistive background. Zamgold is completing a detailed, multi-resistivity EM and pole-dipole IP survey to identify drill targets within the anomaly. Zamgold expects to commence drilling in March. On behalf of the Board of America Mineral Fields Inc. ARobert S. Stewart@ Robert S. Stewart, Chairman For further information about America Mineral Fields Inc. or the contents of this news release, please contact Earl Young, Investor Relations at (214) 599-8360, or fax at (214) 599-8361 or visit the Company=s web site atam-min.com .