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

To: Tim Hall who wrote (2907)	9/4/1998 12:58:00 PM
From: BLZBub	Respond to of 3744

E. Are you familiar with Birch Mountain's "Prairie Gold Model"? Today's News Release is attached below. TIA. Bill. ====================================================================== ADVANCES IN BIRCH MOUNTAIN'S SEARCH FOR SEDIMENT HOSTED GOLD-PLATINUM DEPOSITS CALGARY, Sept. 4 /CNW/ - In response to market activity on the Alberta Stock Exchange and questions from shareholders, Doug Rowe, President and CEO of Birch Mountain Resources Ltd. (ASE:BMD) reports that significant progress has been made towards the discovery of a potential sediment-hosted gold-platinum deposit on Birch Mountain's Athabasca property in northeastern Alberta. Over the past year, Birch Mountain has concluded that the Prairie Gold model, developed by Birch Mountain and used to guide its gold-platinum group metal (PGM) exploration program, probably represents a low temperature variant of certain unconformity-related, sediment-hosted gold deposits in Nevada that are not associated with intrusive or volcanic heat sources. This recognition has primarily been driven by our detailed examination of cores obtained from oil sands operator Syncrude Canada Ltd. and structural mapping using core-based information combined with results of our 1997 high resolution aeromag survey. This information shows that preliminary geochemical indications of alteration that were recognized over a year ago can now be extended to show that characteristic alteration types including decarbonation, desulfidation, sideritization, baritization and, locally, silicification, are recognized in areas of structural disturbance directly overlying Precambrian basement faults. Core examinations show that platinum and gold from Syncrude drill hole 11-7-AE-96-10W4 (2.2-4.9 g/t platinum and 0.2 g/t gold over 1.6 m from 72.0-73.6 m depth, previously reported April 7, 1997), occur in characteristically altered Devonian limestone located within 1 kilometre of a basement structure that coincides with an ''alteration fairway'' at the top of the Devonian. Birch Mountain continues to use the Prairie Gold model as a guide to its exploration for large-tonnage sediment-hosted gold-PGM deposits. We currently are in the process of identifying drill targets to test sediment-hosted platinum and gold prospects in Athabasca. Plans for ground geophysical surveys followed by drilling are expected to be announced once financing activities currently underway have been completed successfully. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. %SEDAR: 00003909E -30- For further information: Doug Rowe, President and CEO or Jane Quinn, Shareholder Services Birch Mountain Resources Ltd., 403-262-1838, Fax: 403-263-9888, Home page birchmountain.com