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

To: Sojourner Smith who wrote (2766)	9/17/1998 12:30:00 PM
From: Ron	Read Replies (1) \| Respond to of 5908

Here's one that could move. MG Gold Announces Gold Strike at Marble Quarry Business Wire - September 17, 1998 12:04 Jump to first matched term PHOENIX--(BUSINESS WIRE)--Sept. 17, 1998--MG Quarries, L.L.C., (a wholly owned subsidiary of MG Gold Corp. (OTC BB:MGAU)), began operations at the marble quarry Sept. 3, 1998. Mining/quarrying equipment was on site Sept. 7. Initially, the equipment was used to clear the site, remove overburden and prepare for quarry operations. On Sept. 10, exploration holes were drilled to delineate the marble quarry perimeters at the Martin's Peak site. A highly altered mineralized formation was encountered in exploration hole No. 3 at a depth of 35 feet. The drill shank was stopped at 45 feet, the depth for each of the exploration holes. A composite sample of drill chips was taken from the ten feet of mineralized material. The sample was sent to a registered Arizona Lab for assay. Data returned on Sept. 16, reported a fire assay of 0.447 oz per ton of gold. Although unexpected, the mineralization is in a highly altered host rock and may indicate what is geologically referred to as a "skarn type" occurrence. MG Quarries' geologist, recommends an immediate follow-up exploration program to determine the extent of the gold occurrence. The MG quarry is adjacent to the old Bonanza Mine, where records indicate 153,000 ounces of gold (and other metals, including copper, lead and silver), was recovered. MG Quarries has a mining plan and equipment already on site for the quarry operations and ready access to efficient, environmentally friendly recovery technology. Further positive developments from the exploration could potentially see rapid development of this mineralization. The marble quarry "blasting" was done on Sept. 16 and produced 40,000 tons of marble ready for processing and delivery by the end of September. MG Gold Corp. is a diversified, environmentally responsible natural resource company. Its mission is to continue building a natural-resource company by acquiring, developing and operating resource assets, converting them to significant cash-flow generators and thus enhancing shareholder value. Forward looking statements in this release are made pursuant to the "Safe-Harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, commodity prices of precious metals, increased levels of competition for the company, perfection of extraction technology, the company's dependency upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports. The company assumes no obligation to update the information in this release. All inquiries can be made through the offices of MG Gold Corp. at 1334 E. Chandler Blvd., No. 5, B-72, Phoenix, Arizona 85048 or by calling Mike Amundson, Chief Operating Officer, at 602/460-7842 or Fax at 602/460-6324. MG Gold information can also be obtained through its Web Site; mggold.com CONTACT: MG Gold Corp., Phoenix Mike Amundson, 602/460-7842 Fax: 602/460-6324