Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Borneo Gold (VSE:BNO) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Everest who wrote (204)	3/3/1998 6:28:00 AM
From: thereitis	Read Replies (1) \| Respond to of 233

Attention Business Editors: BORNEO GOLD CORPORATION - BUNUT BULK SAMPLE YIELDS ENCOURAGING GOLD GRADES Shares Issued: 33.0M Fully Diluted: 36.2M Working Capital: C$7.0M (Est.) Trading Symbol: VSE - BNO TORONTO, March 2 /CNW/ - Borneo Gold Corporation today announced encouraging bulk sample results from its Bunut Project in West Kalimantan, Indonesia. A 20.5 tonne bulk sample located in the Bingkai area has yielded a grade of 3.7 gpt to a depth of 6.0 metres. A channel sample from an 11 metre trench extending this test pit graded 7.7 gpt. The coarse visible gold and electrum encountered is primary in nature and is found in association with pyrite and berthierite. The Bingkai bulk sample location is 400 metres to the SE of the original Monsan discovery on the Bunut CoW. The location was selected based on a soil geochemical anomaly. Smaller test pits in the area had produced encouraging but erratic results due to the coarse nature of the gold. Therefore, a large bulk sample approach was employed to ensure a representative result. The Bingkai-Monsan trend is inferred to be a breccia pipe and/or sheet system trending SE from the original Monsan discovery. The entire Bingkai-Monsan trend is approximately 1.2 km long and averages 500 metres wide. Commenting on these results Dr. Francis T. Manns, President of Borneo Gold said ''These results are quite encouraging, although they are representative of an area local to Bingkai only. We would caution investors that a great deal more work needs to be completed to determine if they are representative of the overall Bingkai-Monsan trend.'' The Bingkai-Monsan trend is one of a number of highly prospective target areas identified during the preliminary exploration program conducted during the past year on the 4 km by 3 km dacite porphyry intrusion located on Bunut CoW. With the recently announced signing of the final Bunut Contract of Work by the Indonesian government the Company is aggressively moving forward plans to drill test these targets. Borneo Gold Corporation's head office is located in Toronto, Canada and the main operating office is located in Jakarta, Indonesia. The Company's common shares trade on the Vancouver Stock Exchange under the symbol BNO. ON BEHALF OF THE BOARD ''Francis T Manns,'' President & CEO The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. There it is.