Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : NP Energy Cp New -- Ignore unavailable to you. Want to Upgrade?

To: Russell Gish who wrote (14922)	3/10/1999 1:10:00 PM
From: James E Lynch	Respond to of 22810

(COMTEX) B: Medinah Energy Inc. Reports Important New Discovery - Dia B: Medinah Energy Inc. Reports Important New Discovery - Diamond Drilling Program Expanded At Alto de Lipangue Project, Chile LAKE ELSINORE, CALIF. (March 10) BUSINESS WIRE -March 10, 1999-- CURRENT DIAMOND DRILLING REPORT DDH No. 99-01 ANOMALOUS GOLD VALUES - Drilled vertically to test a small geological IP target outside and west of a large IP anomaly. This target proved to be a pyrite halo zone in andesite rock. The hole was completed at a depth of 70 meters, returning anomalous gold values. DDH 99-02 CONFIRMED PRESENCE OF GOLD AND COPPER - Approximately 200 meters east of DDH 99-01, collared on the edge of a large IP anomaly. This vertical hole intersected the flank of a granodiorite intrusive, the target rock, and continued in granodiorite to the depth of the hole. At a depth of 100 meters, sulfide mineralization includes pyrite, molybdenite and chalcopyrite. Assays confirm the presence of copper and gold in low but significant values over a continuous thickness of approximately 140 meters. DDH 99-03 ORE GRADE GOLD/COPPER VALUES - Drilled vertically approximately 250 meters southwest of DDH 99-02, collared at the center of a large anomaly, in granodiorite to full depth. At 91 meters, the granodiorite was mineralized and highly silicified. Continuous breccia, silicification and mineralization - including massive pyrite and chalcopyrite - were observed from a depth of 91 meters to the bottom of the hole at 297.5 meters. Assays received to date returned values as follows with respect to ore grade intervals: Diamond Drill Hole 99-03 Depth From To Gold Thickness -------------------------------------------------------------------- 91 meters 176 meters 1.979 gr/ton 277 ft continuous Included within this zone: 97 meters to 108 meters 3.71 grams gold/ton over 37 feet 113 meters to 123 meters 2.88 grams gold/ton over 33 feet 155 meters to 159 meters 9.875 grams gold/ton over 13 feet 92 meters to 127 meters 0.772% copper over 114 feet The balance of copper assays from 127 meters to depth, balance of gold assays from 210 meters to depth, 297.5 meters, and all silver assays will be released when completed and verified for DDH 99-03. Due to the interesting geological and excellent assay results encountered in DDH 99-03, management has approved a recommendation from Gordon House, P.Geo., to expand the drill program. Several additional holes will be drilled in order to undertake a more complete geological study of the deposit at Alto de Lipangue. Anomalies on the neighboring property of Las Dos Marias, historically containing high grades of gold, will be drilled at some point during this current program. Since his early studies of the area in 1998, project geologist Gordon House has theorized the existence of a large mineralized hydrothermal system underlying the whole Alto de Lipangue/Las Dos Marias property. DDH 99-03 appears to have confirmed this. All assay work is contracted to a North American lab, Acme Analytical, and a second independent lab is completing verification assays. Pulps from the assays have been retained and half of the drill core is secured for analysis and inspection. On behalf of the Board of Directors Per: Larry Regis, President Management reminds all shareholders that they may be kept up to date about important shareholder communications by registering their shares. The information required and the forms to do this are located on Medinah's website. For further information, contact RGM Communications Inc. at 1-800-547-9375 or access the website at http:/www.medinahenergy.com/ Note: This News Release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Energy, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. -0- jc/ny* CONTACT: RGM Communications Inc. 1-800-547-9375 or web site: http:/www.medinahenergy.com/ KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MINING/METALS ENERGY 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 *