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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: rockets who wrote (43)	8/12/1998 11:01:00 PM
From: Archie Goodwin	Respond to of 5908

Property description.............. (COMTEX) B: Indocan Resources Inc. - Status & Gold Property Descripti B: Indocan Resources Inc. - Status & Gold Property Descriptions VANCOUVER, BRITISH COLUMBIA (June 18) BUSINESS WIRE -June 18, 1998-- Indocan Resources Inc. (OTC BB:IDCN) The board of directors reports: The company is moving forward on several of its mining sites. We are in discussions with two European companies for the purchase of garnet to be produced at the River Valley, Ontario Garnet Property for use as an abrasive. A senior executive will be in Europe next week to further these talks. Initial financing for the company's operations is being completed. Drill programs in the Nova Scotia area are being considered while further exploration of our Raglan, Ontario property is being considered. Property descriptions follow: RAGLAN, ONTARIO - COPPER-NICKEL-COBALT-PLATINUM-GOLD This property is 100% owned by the company. The property size increased and is now greater than 3500 acres (1400 hectares). Exploration done by the company's recently acquired predecessor, Prodigy Resources Inc., involved trenching and sampling at one anomaly. Samples assayed up to 2.27% copper, 0.59% nickel, 0.10% cobalt, 0.42 gram/ton gold, 0.21 gram/ton palladium and 0.20 gram/ton platinum. Approximately 100 meters of channel sampling was done. One trench, returned 10.4 meters of channel samples averaging 0.58% copper and 0.28% nickel. The assays from the sampling presently are being compiled and interpreted. ISAAC'S HARBOUR, NOVA SCOTIA - GOLD This property had historic production. Recent sampling has yielded up to 23 gram/ton (0.7 oz/ton) over 5 inches of quartz vein material. The average grade of historic production was approximately 2 oz/ton and 39, 694 ounces were produced in the 1860's and World War I. The property has a lot of potential for quartz vein material (low tonnage, high grade) and also for country rock material (high tonnage, low grade). The property potential is highlighted as it is within 3 kilometers of the Placer Dome/Orex deposit. That deposit was another former past producer where recent exploration outlined estimated reserves of 12,000,000 tons probable & 7,500,000 tons possible averaging 3.37 gram/ton gold (2.1 million ounces of gold). The company predecessor obtained permits in 1997 for trenching and channel sampling. The assays from sampling are being evaluated and interpreted, the results of which shall be released shortly. The company believes that it has in excess of 500,000 ounces of gold possible on this property. This information is intended to provide an update of exploration results. Please bear in mind that the fieldwork has just been completed and the company has not yet received many assays. -0- mjb/clv* CONTACT: Jeffrey R. Bruhjell, 604/929 7224 KEYWORD: NEW YORK INDUSTRY KEYWORD: MINING/METALS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story * Brian $^)