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 : JABA INC.(c.jba) -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (508)	7/8/1998 9:03:00 PM
From: Veritas	Read Replies (1) \| Respond to of 1044

Wednesday July 8, 8:13 pm Eastern Time Company Press Release JABA and Valerie Gold: Phase I of East Silver Bell Drilling Completed VANCOUVER, British Columbia--(BUSINESS WIRE)--July 8, 1998-- JABA (Alberta Stock Exchange:JBA. - news) VALERIE GOLD (VSE:VLG. - news) Valerie Gold Resources Ltd. and JABA Inc. are pleased to announce that Phase I of the drill program at East Silver Bell has been completed (see News Releases of March 2 and May 21). Seven holes totaling 4,000 feet were drilled using the reverse circulation (RC) method. The deepest hole was 1,080 feet, the shallowest 520 feet. Assays are being compiled into graphic logs for interpretation. Preliminary logging shows the presence of ''live limonite'' suggesting the possibility of an enriched copper sulfide zone (chalcocite blanket) below the current level of drilling. Initial geologic examination of the drill cuttings shows leached capping, which is characteristic of the upper surfaces of the known Silver Bell porphyry copper ore bodies and suggests a chalcocite blanket (higher grade copper sulfide enrichment zone) below current drilling depths. This leached capping, which in the known ore bodies of Silver Bell ranges between 50 and 200 feet thick, appears to be over 600 feet thick in the East Silver Bell area. The thickness may be due to a post-mineral volcanic cover which protects it from erosion. Valerie has retained Dr. Russell Babcock, to complete an independent evaluation of the cuttings and to investigate the possibility of a chalcocite copper sulfide enrichment blanket at depth. Dr. Babcock is a consultant in the study of leached capping and was previously the Chief Geologist for Kennecott Exploration. JABA and Valerie are continuing to compile and interpret the data obtained from the Phase I drill program. On behalf of the Board, James A. Briscoe, Chief Executive Officer of JABA Inc. Frank A. Lang, President of Valerie Gold