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Gold/Mining/Energy : Banro Resources ( BNRS-CDN) -- Ignore unavailable to you. Want to Upgrade?

To: Stan Greene who wrote (41)	6/4/1998 11:03:00 PM
From: dvid	Read Replies (1) \| Respond to of 73

June 4th News Release I would have thought this would make the market move up. BANRO'S RE-SAMPLING AND MAPPING PROGRAM CONFIRMS TWANGIZA HISTORICAL DATABASE TORONTO, June 4 /CNW/ - Banro Resource Corporation is pleased to report assay results from a re-sampling and mapping program on a selected number of adits and cross-cuts that were developed during the 1960's. ''This part of the recently completed Phase I exploration program was conducted in order to evaluate the precision of historical assay results and to further understand the geology at the Twangiza deposit,'' states Banro President & CEO, Bernard van Rooyen. In total sixteen adits and associated cross-cuts were rehabilitated, in part or in whole, and channel sampled at 1 metre intervals from both walls of the adits, for a total of 1,613 samples. Current results compared favorably with historical results derived from the same area. Comparison tables of selected data, using a 1-gram per tonne cutoff for the current sample results, are as follows: >> ------------------------------------------------------------------------- Level Adit Name Length Gold Grade (g/t) ------------------------------- (m) Current Historical ------------------------------------------------------------------------- 2100 G6E 91.00 3.16 2.67 ------------------------------------------------------------------------- G6W 46.40 2.49 2.10 ------------------------------------------------------------------------- G6W 27.00 1.65 1.53 ------------------------------------------------------------------------- 2100 G7E 36.10 2.44 3.18 ------------------------------------------------------------------------- G7W 7.00 1.38 1.81 ------------------------------------------------------------------------- G7W 34.00 1.76 2.34 ------------------------------------------------------------------------- 2100 G8E 18.00 1.91 1.73 ------------------------------------------------------------------------- G8E 12.00 10.24 6.37 ------------------------------------------------------------------------- G8W 30.00 3.39 1.72 ------------------------------------------------------------------------- G8W 19.00 2.74 5.02 ------------------------------------------------------------------------- 2100 G9E 17.00 2.25 1.25 ------------------------------------------------------------------------- G9W 25.00 3.37 0.98 ------------------------------------------------------------------------- G9W 7.00 1.74 0.25 ------------------------------------------------------------------------- 2100 G10E 10.00 1.71 1.70 ------------------------------------------------------------------------- G10W 15.00 1.64 1.20 ------------------------------------------------------------------------- 2131 G18N 86.70 4.66 4.43 ------------------------------------------------------------------------- G18S 94.00 4.57 4.56 ------------------------------------------------------------------------- 2131 G18R1SE 24.00 3.85 4.04 ------------------------------------------------------------------------- G18R1SE 6.00 2.47 2.15 ------------------------------------------------------------------------- G18R1SW 18.00 5.96 5.56 ------------------------------------------------------------------------- 2131 G19N 41.00 1.92 2.78 ------------------------------------------------------------------------- G19N 51.40 4.71 3.95 ------------------------------------------------------------------------- G19S 102.70 3.12 3.49 ------------------------------------------------------------------------- 2131 G19AN 14.00 4.93 3.27 ------------------------------------------------------------------------- G19AN 29.00 3.61 4.21 ------------------------------------------------------------------------- G19AS 14.00 2.67 1.93 ------------------------------------------------------------------------- G19AS 28.00 3.79 2.72 ------------------------------------------------------------------------- 2131 G19R1NW 6.00 1.20 0.30 ------------------------------------------------------------------------- 2131 G19R1SE 10.00 6.67 5.48 ------------------------------------------------------------------------- G19R1SW 20.00 2.72 2.57 ------------------------------------------------------------------------- 2131 G19R2NEW 55.70 3.97 4.61 ------------------------------------------------------------------------- G19R2NW 23.00 6.89 4.43 ------------------------------------------------------------------------- G19R2NW 28.00 7.97 6.28 ------------------------------------------------------------------------- 2131 G20E 22.00 2.15 1.45 ------------------------------------------------------------------------- G20W 10.00 2.91 2.25 ------------------------------------------------------------------------- 2180 G5AE 10.00 1.15 1.87 ------------------------------------------------------------------------- G5AE 66.00 5.42 4.45 ------------------------------------------------------------------------- G5AW 66.80 4.55 4.48 ------------------------------------------------------------------------- 2220 G9E 8.00 3.34 3.01 ------------------------------------------------------------------------- G9W 11.00 6.59 4.21 ------------------------------------------------------------------------- >> Additionally a detailed mapping and sampling program was conducted within the Mwenga Pit, located at the southern end of the Twangiza deposit, and created through the excavation of approximately 1.5 million tonnes of oxide material by artisanal miners. This open pit has been excavated below the lowest level of adits within the area, providing a unique opportunity to compare in-situ sample results with gold grades inferred by historical resource calculations. A total of 1,102 one-metre channel samples were collected along a grid system established to provide full coverage of the exposed Twangiza anticline. Results from the sampling program confirmed the grades that were anticipated in this area from the resource modeling. Selected intervals from within the pit, using a 1-gram per tonne cut-off, are as follows: << ----------------------------- Length Gold Grade (m) (g/t) ----------------------------- 43.86 3.01 ----------------------------- 42.82 4.43 ----------------------------- 30.08 5.06 ----------------------------- 8.37 11.28 ----------------------------- 34.92 4.61 ----------------------------- 27.72 3.87 ----------------------------- 10.91 2.99 ----------------------------- 11.89 1.35 ----------------------------- 14.40 1.19 ----------------------------- 10.52 2.85 ----------------------------- 11.97 4.64 ----------------------------- 15.03 3.40 ----------------------------- 17.22 1.75 ----------------------------- 16.10 1.39 ----------------------------- 12.04 1.88 ----------------------------- 29.24 8.38 ----------------------------- 40.32 2.98 ----------------------------- 10.08 5.60 ----------------------------- 26.97 3.78 ----------------------------- 13.16 4.35 ----------------------------- 10.70 1.67 ----------------------------- 24.85 2.33 ----------------------------- 11.85 4.05 ----------------------------- 23.33 3.48 ----------------------------- >> Banro Resource Corporation is a gold exploration and development company with 47 mining concessions encompassing an area of 10,271 square kilometers in the Democratic Republic of The Congo. Banro's common stock is quoted on the Canadian Dealing Network (CDN), under the symbol ''BNRS''. The Company has 13,671,181 common shares issued and outstanding. -0- 06/04/98 For further information: on Banro, please visit our Web Site at banro.com or contact: A.T. Kondrat, Co-Chairman; Michael Nikiforuk, Vice-President, Director; Cliff Jones, Investor Relations; Phone: (416) 366-2221, Fax: (416) 366-7722, Toll-free: 1-800-714-7938; In Johannesburg, S.A. contact: Bernard van Rooyen, President & CEO, Banro Resource Corporation, Phone: 2711 476-5031, Fax: 2711 476-5049 --------------------------------------------------------------------------