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Gold/Mining/Energy : Glenhaven Resources GHM-CDNX -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (151)	5/14/1998 9:49:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 234

This sounds cool:-) Thursday May 14, 5:09 pm Eastern Time Company Press Release Anzex Mobilizes Rig to World's Only Known Major Platinum/Palladium Target in Layered Ultramafic Rocks not Previously Tested by Drilling VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--May 14, 1998-- Anzex Resources Ltd. (VSE:AZX. - news) Anzex Resources Ltd. (AZX-VSE) is pleased to announce that a drilling rig has been mobilized to the Longwoods project on the south island of New Zealand. Longwoods is the world's only known major platinum group target within a layered intrusive, which has never been drill tested. Anzex owns 100 percent of the granted license, which covers the entire Longwoods Igneous Complex (the Longwood Ranges). The Longwoods is the focal point of Anzex's platinum exploration and diamond drilling program, which is due to start on 20 May. The first three holes are each projected to 1,000 meters to test the stratigraphic layering apparent within the Pahia Layered Series (PLS) which resembles layering hosting the major platinum/palladium horizons at the Merensky Reef in South Africa and J-M Reef of the Stillwater Mine in Montana. There is strong evidence that the PLS is part of a major layered intrusion, comprising a high proportion of highly magnetic rocks at the base and layered, variably magnetic rocks above these. The occurrence of platinum metals in placer deposits down-slope from the PLS, the distribution of anomalous stream sediment analyses, and the occurrence of rocks with up to 3 g/t platinum and 3.3 g/t palladium favor the occurrence of one or more platinum metal enriched layers within the PLS where it forms the Longwood range. The rock types containing anomalous values are similar to those hosting mineralization in the J-M reef of the Stillwater complex. One or more mineralized horizons could occur over a strike length of 12 km, with a down-dip potential of at least 2km, giving a potential of in excess of 24 square kilometers of mineralization. In the initial phase of exploration, Anzex will drill 3 holes to investigate the igneous stratigraphy and test the platinum metal potential of the PLS. Particular attention will be given to understanding the igneous statigraphy (layering of rocks) and relating Platinum Group Element concentrations to it. This information will be used to guide subsequent drilling. Shares Issued: 7,365,077 Fully Diluted: 9,377,577 Year High/Low: $3.00/$1.41 Current: $1.96 Warrants: 937,500 (811,700 exercised) Cash Position: $1.7 million -0- Note to Editors: No stock exchange has reviewed or approved the content of this news release. Contact: Anzex Resources Ltd. Todd McMurray, 604/684-6671 604/684-6643 (FAX) Email: anzex@bed-rock.com anzex.com.au More Quotes and News: Anzex Resources Ltd (Vancouver:AZX.V - news; Vancouver:AZX.V - news) Related News Categories: mining/metals Mr Metals