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Gold/Mining/Energy : Atacama Minerals -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (68)	9/16/1998 5:12:00 PM
From: Tomas	Read Replies (1) \| Respond to of 105

Successful Completion of Bulk Mining Test and Ore Analysis VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Sept.16, 1998 ATACAMA MINERALS CORP. (''the Company'') is pleased to announce that a bulk mining test and chemical analysis was recently completed at its Aguas Blancas project site in northern Chile. The test successfully demonstrated the efficiency of the continuous mining machines proposed to be used in the Company's future mining operations. A total of 46,000 tonnes of ore was mined during the test period and stockpiled at the plant site. The machine ran at anticipated daily rates and within the parameters of estimated mining costs. This bulk ore pile was subjected to extensive chemical analysis with very encouraging results. Preliminary indications show significantly higher averages of iodine, sodium sulphate and sodium nitrate as compared to previous results from a reverse circulation drilling program which is possibly due to recovery losses from the reverse circulation drilling methodology. The Company intends to conduct further drilling and analysis over the next few months. Results consistent with the bulk ore test may allow for an upgrading of mineral resources, an increase in iodine production and an acceleration of the potassium nitrate program. Project resources currently stand at 97.4 million tonnes of iodine ore at 580 ppm and 43.2 million tonnes of sodium sulphate ore at 27 percent. The following tables compare results of the bulk ore test with reverse circulation holes drilled in the same area: RESOURCE REPORT ANALYSIS USING REVERSE CIRCULATION DRILLING (SURFACE - 1.5 M AVERAGE) Hole # Iodine (I2) Nitrate (NO3) Sulfate (SO4) (ppm) (percent) (percent) Hole # 29 326 .44 20.17 Hole # 30 1758 2.22 25.83 Hole # 31 606 .87 17.68 Average 897 1.18 21.23 COMPOSITE SAMPLES FROM BULK ORE TEST Sample # Iodine (I2) Nitrate (NO3) Sulfate (SO4) (ppm) (percent) (percent) Bulk Sample B 00070 1129 4.68 30.96 Bulk Sample B 06049 1288 3.87 38.12 Bulk Sample A 00004 876 5.70 30.32 Bulk Sample B 00065 952 5.78 30.39 Bulk Sample C 00040 1178 6.19 36.62 Bulk Sample B 00055 865 6.49 29.80 Bulk Sample C 00037 651 5.91 31.72 Bulk Sample B 00063 970 5.57 30.13 Bulk Sample A 00005 711 3.97 31.09 Average 958 5.35 32.13 Increase vs RC Drilling (percent) 7 353 51 As stated, the bulk ore pile was mined within a three hole area covered in the Company's previous resource study conducted in 1997. The bulk sampling method drew composite samples from a total of 1,840 truckloads of ore. The analysis was further checked and analyzed by size fraction to establish whether there were any differences in grade in the fines versus coarser material. The results showed no difference, giving the Company further confidence that bulk sampling may provide more representative information than reverse circulation drilling in this area. Aguas Blancas is a world class deposit of industrial minerals. Atacama owns 100 percent of the 9,000 hectare concession and upon completion of project financing, will be constructing a state-of-the-art chemical manufacturing facility that at full capacity will annually produce 1,000 tonnes of iodine and 300,000 tonnes of sodium sulphate. A 70,000 tonne per year potassium nitrate circuit is currently scheduled to come on-line in year seven. ON BEHALF OF THE BOARD Robert S. Cogliandro, President biz.yahoo.com