To: saul mikaliukas who wrote (3499 ) 3/31/1998 5:26:00 PM From: Steve Stakiw Read Replies (2) | Respond to of 4057
Fairmile Reports Positive Results From Expanded Data Evaluation at Highland Project FAIRMILE GOLD CORPORATION March 31, 1998 ASE: FLA Fairmile Reports Positive Results From Expanded Data Evaluation at Highland Project Vancouver, BC - Fairmile Gold Corp. (Fairmile) reported today that evaluation of additional data on Fairmile's Highland Project, located along the Walker Lane Gold Trend in west-central Nevada, has resulted in the identification of a large area of potential near-surface gold mineralization. In addition, a new claim block, the BUZ, has been acquired by staking. The BUZ claim block lies approximately one mile north of the Highland claim block, in a similar geologic setting. Highland Target: Fairmile has evaluated in detail an extensive database, recently expanded by the results of work done by the previous landowner. This work includes numerous surface trenches and 13 shallow drill holes. This data, combined with Fairmile's mapping and sampling, has identified a prospective area approximately 4,500 feet long and as much as 1,200 feet wide. The previous drilling was limited to a small portion of the prospective area, with none of the holes testing veins below 200 feet of the surface. Drilling intersected numerous veins and stockwork zones, with the best intercept encountered being 19 feet averaging 0.13 troy ounces of gold per ton in a core hole. The intercept lies approximately 300 feet west of the Farnsworth Vein Zone, which reportedly produced up to 10,000 troy ounces of high-grade gold. Other outcrops identified by surface grab and trench samples, but untested by drilling, indicate the potential for economic concentrations of gold beneath very shallow gravel cover. Additional mapping and geophysics are being planned to help further define drill targets. Deb Target: A trenching program is being permitted to evaluate structural controls of the poorly exposed mineralization identified at this target. Numerous grab samples from the area contain 0.01 to 0.085 troy ounces of gold per ton; however, the target has never been trenched or drilled. The structural information gained from trenching will help to further define drill targets Buz Claim Block: This new area consists of a 3-mile-long zone with scattered exposures of quartz veins, breccias, dikes, and small intrusions. Limited sampling of old prospect dumps reveal gold values as much as 0.20 troy ounces per ton, with trace element geochemistry similar to the other Highland targets. Additional mapping and sampling will be necessary to further evaluate this area. Fairmile's work continues to indicate that the geologic setting at Highland is similar to other low-sulfidation, volcanic dome-related gold systems such as Sleeper (Nevada) and Midas (Nevada). The Highland Project has the potential to host high-grade, bonanza-type gold/silver veins and disseminated, fracture-controlled mineralization. For further information visit Fairmile's web site at fairmile.com or contact Investor Relations at 1-888-599-6777. "Thomas R. Kelly" Thomas R. Kelly, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. Telephone: (604) 257-4262 or 1-888-599-6777 Toll Free Fax: (604) 683-2540