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Gold/Mining/Energy : Blackstone Resources BLV-CDNX -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (302)	8/26/1998 9:06:00 PM
From: Buckey	Read Replies (1) \| Respond to of 373

Exploration results from El Diamante Blackstone Resources Inc BZZ Shares issued 8,433,501 Aug 26 close $0.11 Wed 26 Aug 98 News Release See Insular Explorations Ltd (ISX) News Release Mr. Jamie Macintosh and Mr. Donald McInnes report The results from the first phase of the recently completed exploration program at the El Diamante project in Chihuahua, Mexico were encouraging. The recent exploration has identified five gold targets within the Encino Gordo zone on the Encino III concessions of the El Diamante project. Gold mineralization is predominantly hosted by andesite porphyry and is associated with discreet sub-parallel quartz veins and quartz-sulphide stockworks. Two of the targets offer the best exploration because of the strong correlation between the anomalous gold and copper geochemistry and the bedrock mineralization, and the presence of stockwork veining with numerous rock samples returning gold values in excess of 0.5 grams per tonne. Within one of these two target areas, five rock samples returned values in excess of 1.0 gram of gold per tonne, the highest gold values being 10.5 and 8.4 grams per tonne. Exploration consisted of detailed geological mapping, geochemical soil sampling and rock chip sampling. A total of 468 soil and 475 rock chip samples were collected during the exploration program. The majority of the 475 rock samples were 5 metre chip samples and 30 of these returned assays of 0.5 grams of gold per tonne or higher with a maximum gold value of 14.1 grams of gold per tonne over 5m. Blackstone and Insular management are working with their exploration consultants to plan a follow up exploration program. The follow up program will involve detailed mapping and rock sampling in the key target area to better define potential drill sites within the Encino Gordo zone. Insular can acquire a 70 per cent working interest in the El Diamante project from Blackstone. The property is within the Sierra Madre gold belt, 30 kilometres northwest of the 2.3 million ounce El Sauzal gold deposit owned by Francisco Gold. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com