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Gold/Mining/Energy : Rock Resources -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (206)	8/18/1998 6:19:00 AM
From: Mr Metals	Respond to of 1996

NEWS RELEASE???? Rock Resources Inc - May-June 1998 exploration success Rock Resources Inc RKR Shares issued 14,600,075 1998-08-17 close $0.2 Tuesday Aug 18 1998 Mr. Thomas Kennedy reports 1. CHILE Drilling and Mapping of the Main Hydrothermal System on the Coiron Property, Region IV, Chile, May 3 to June 20, 1998 Further to the news release in Stockwatch June 10, 1998 (Main Target - Mount Tacho) three drill holes (a total of 1064m) were completed in the main hydrothermal system. The goal of the May-June 1998 drill program was to establish evidence underground to support Rock's contention that it could have a world class porphyry copper-gold deposit on the 33 sq km Coiron property in Region IV, Coquimbo, Chile. The company has achieved its goal. In his July 28, 1998 report to Rock Resources John Ostler, independent consulting geologist, describes as follows: Geochemical Analysis of Drill Core Most of the drill core from the holes penetrating the main hydrothermal system were sawn and sampled for 2m lengths at 6m intervals. The geologists were looking for chemical changes and metal distributions in a large system where hot intersections a few centimetres thick have no significance. If the geologists find a mineable porphyry deposit they will design a large pit from which everything will go to the mill. Consequently, large-scale trends are most important. Samples were analyzed at Acme Labs in Santiago, Chile for copper, silver and gold. The sample pulps have been saved for subsequent multi-element studies. Marginal Volcanic Rocks with Propylitic Alteration These are generally at the margin of the system. As would be expected, these rocks contain background levels of gold, silver and copper. Gold and silver in these rocks is generally near the lower detection limit of the analysis; 1 ppb for gold and 0.1 ppm for silver. Copper varies from about 20 to about 150 ppm. This probably reflects the original background metal contents of these volcanics. Intrusive Rocks with Pervasive Potassic Alteration and Magnetite Development These rocks have a significantly elevated gold content. Gold in these rocks ranges up to 8 ppb and gold content seems to be related to magnetite content as reflected in magnetism. Silver content is generally less than 0.1 ppm. Copper is generally less than 100 ppm, which is roughly half of that encountered in the marginal volcanics. The elevated gold levels in the magnetic parts of the intrusion are interpreted to be a positive exploration indicator. Magnetite and gold rich intrusions are necessary for the development of gold-rich copper porphyry deposits. Late Copper-Rich Veins These narrow veins contain up to 10 per cent chalcopyrite as exolution blebs in quartz-rich fluid. Two metre sections containing these veins contain up to 0.5 per cent copper. The veins themselves would obviously return much higher concentrations. Sections containing these veins are also variably enriched in gold. The 2m sections contain up to 38 ppb gold, and as with copper, concentrations within the veins themselves would be much higher. These veins seem to be scavenging significant amounts of gold and copper from adjacent parts of the hydrothermal system. They are most common near the boundary between the magnetic intrusion and subsequent tourmaline breccia, the most probable area to find a large porphyry gold-copper deposit. These two factors strongly indicate that a body of porphyry gold-copper mineralization may be near the site of the 1998 drilling. Rock's management submitted a four inch piece of drill core (being from one of the late copper-rich veins referred to above) to Chemex Labs in North Vancouver, B.C. and the assay received Aug. 14, 1998 confirmed 7.03 per cent copper, 0.27 g/t gold and 28 ppm silver. The July 28, 1998 report concluded as follows: The May-June 1998 exploration program was successful in expanding understanding of the main hydrothermal system on the Coiron property and demonstrating potential for the discovery of a major porphyry gold-copper deposit on the property. A magnetite-rich intrusion containing pervasive potassic alteration was confirmed to exist beneath all lobes of the hydrothermal system, meeting a major requirement for the development of a major deposit. Potassic alteration in both the intrusion and volcanic rocks surrounding and underlying the main hydrothermal breccia has been confirmed, thus maximizing the contact area between the zones of potassic alteration and hydrothermal breccia. Porphyry deposits are normally near such a contact. The destruction of magnetite by the fluids responsible for the development of the central tourmaline-bearing implosion breccia resulted in the rocks of the central breccia being much less magnetic than the surrounding magnetite-rich granitic rocks. This change in magnetism should assist in the identification of the contact between these two units by geophysical surveys. Major geophysical disturbances along that contact could be directly related to the presence of gold-copper porphyry deposits. Near that contact, drilling has revealed the presence of late copper and gold-rich veins that probably have been scavenging these metals from within the hydrothermal system. The results of the May-June 1998 exploration program of drilling and mapping are considered to be positive. Exploration of the main hydrothermal system on the Coiron property is recommended to be continued with extensive induced potential and magnetic surveys, followed by a program of diamond drilling. 2. B.C. COMPENSATION In a news release in Stockwatch Jan. 12, 1998, the company announced that legal action commenced. Rock Resources has commenced a legal action in the Supreme Court of British Columbia by way of a writ of summons against Her Majesty the Queen in Right of the Province of British Columbia claiming for general, special and punitive damages with respect to the government's decision in July 1995 to expropriate certain of Rock's mineral claims (in the southeastern portion of the province) for the creation of a new provincial park. Rock is seeking in excess of $15-million as fair compensation. Further to Rock's news release in Stockwatch May 1, 1998, the B.C. government is taking the steps necessary to implement new mining legislation to ensure B.C. will attract new and much needed mining investment. Recent meetings with the provincial government also confirms the will to ensure proper compensation is paid to parties affected by the 80 new parks established on July 11, 1995. Rock Resources anticipates an active negotiating process to take place in September and October which should lead to a fair compensation award being tendered to Rock Resources Inc. The company will not be proceeding with the incentive stock options filing announced in Stockwatch July 6, 1998. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals