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Gold/Mining/Energy : Steppe Gold (SPE:V) -- Ignore unavailable to you. Want to Upgrade?

To: mike n. who wrote (693)	3/3/1998 10:56:00 AM
From: Robert Dydo	Respond to of 1248

Kosmurun drill results Steppe Gold Resources Ltd SPE Shares issued 23,288,177 Mar 2 close $0.35 Tue 3 Mar 98 News Release Mr John Menzies reports Assay results have been received from the diamond drilling program at Kosmurun. A 25m intercept of massive sulphides assayed 3.2 g/t gold, 53.6 g/t silver, 5.0% copper, 2.4% zinc and 0.5% lead. Kosmurun is a large copper-zinc-gold deposit 30km to the south of the Mizek gold project which the company plans to develop as a heap leach operation. The Kosmurun and Akbastau deposits have previously reported resources of 41.5 million tonnes containing 1 million tonnes of copper, 355,000 tonnes of zinc, 1.1 million ounces of gold and 26 million ounces of silver. A diamond drill rig was mobilized from Mizek. KOD-1 drilled to 220m intersected massive sulphide over a 25m interval from 92.5m. The true width of this interval is estimated to be 24m. KOD-1 was drilled beneath the Kosmurun open pit where an oxide deposit containing 339,000 tonnes at 23 g/t gold had previously been mined. The highest metal values were at the top of the massive sulphide interval with up to 7 g/t gold, 7.6% copper, 7.8% zinc and 3.5% lead. Intensely altered andesite with up to 70% pyrite is present in the footwall to the massive sulphide but has yet to be assayed. >From - To Length Au Ag Cu Zn Pb (m) (m) g/t g/t % % % ----------- ------ ---- ----- --- --- --- Hole No. KOD-1 92.5-117.7 25.2 3.2 53.6 5.0 2.4 0.5 (incl ) 92.5- 96.2 3.7 5.4 101.1 5.5 4.3 1.9 Hole No. KORC-11* 53.0-100.0 47.0 3.0 47.0 3.2 4.7 0.5 C49** 104.8-137.6 32.8 3.8 48.0 4.9 6.3 1.7 * Previously drilled by Steppe Gold ** Previously drilled by Soviets. True widths for KORC-11 and C49 are estimated to be 34m and 23m, respectively. The assay results for KOD-1 compare well with previously announced drillholes KORC-11 and C49 tabled above which were drilled up and down dip respectively from KOD-1. Sample preparation was completed at a laboratory in Kazakstan with assaying being conducted in Australia by Genalysis Laboratory Services. The potential for the discovery of additional sulphide lenses within the Mizek exploration licence which surrounds the Kosmurun and Akbastau deposits is considered excellent. A number of geochemical anomalies remain untested in the immediate vicinity including the Akbastau North anomaly. Akbastau North extends from Akbastau, northwest a distance of 2km and has high gold, lead and zinc and anomalous copper and arsenic and is hosted by andesitic breccia which is strongly altered with disseminated pyrite.