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Gold/Mining/Energy : Birch Mountain Resources BMD-ASE -- Ignore unavailable to you. Want to Upgrade?

To: JP who wrote (26)	3/30/1999 8:33:00 AM
From: Chuca Marsh	Read Replies (1) \| Respond to of 402

There is noi mention of it at the Birchmounatin.com website and there is no know Tintina Website to Canada Stckwatch, BUT an old NR I read and saved -there IS mention of THE Birch Mountains, not BMD persee: Tintina Mines Ltd - Tintina arranges financing for Alberta properties Tintina Mines Ltd TTS Shares issued 7,102,277 1999-01-20 close $0.45 Wednesday Jan 20 1999 Mr. S.F. Sabag reports Tintina has made the necessary submissions to the Toronto Stock Exchange requesting approval for acceptance of a $175,000 private placement financing for continuing work on its Alberta properties. The placement entails the issuance of 700,000 units at 25 cents per unit, each unit consisting of one share and one warrant exercisable within one year at 35 cents per share or within two years at 45 cent per share. As part of the terms of the private placement, Tintina has also granted the placee the first right to participate in any future financing by the company, within a one year period, to the maximum of the placee's current investment. The company, along with its joint venture partner NSR Resources Inc., has been actively pursuing development of metal bearing zones previously discovered at their Asphalt and Buckton properties in the Birch Mountains, in the Athabasca region of northeastern Alberta. As previously reported, process metallurgical bench tests of drill core composite samples were started during 1998 to enable formulation of a suitable flowsheet for collective extraction of the pay metals on a combined basis from the zones. This work returned disappointing results demonstrating the unsuitability of flotation to the beneficiation of a concentrate from the fine grained ashy sulphidic shales as all concentrates produced reported compositions nearly identical to the feed material. After investigating alternatives, the company and its partner have found that a series of very recently completed preliminary tests have successfully produced suitable concentrates reporting also sporadic gold in some of the concentrates. Current intentions are to apply the above financing toward immediate broadening of the testwork to optimize recoveries with the anticipation of starting additional drilling and sampling later in the year subject to availability of additional financing. Efforts are already under way to secure said additional funds. Of metallic interest at the two properties are laterally extensive near-surface metal enriched sulphide bearing zones hosted in unconsolidated flat-lying black shales of the Cretaceous Second White Specks formation carrying copper, nickel, cobalt, zinc, molybdenum and vanadium, with traces of precious metals. Given continuity of grade as shown by reconnaissance drilling and the vast inferred lateral extent of the mineralized zones extending over several tens of kilometres, their most attractive features are proximity to surface and unconsolidated nature, hence their amenability to low cost large scale bulk mining extraction. Field work at the two properties has been held in abeyance pending resolution of process metallurgical economics. Anticipations are that work will shortly be reactivated. While the bulk of activities at the Asphalt and Buckton properties have thus far focused on metallic mineralization, Tintina and its partner, have also been reviewing data and samples archived from the two properties to better assess the strong likelihood for the existence of as yet undiscovered kimberlitic pipes at the two properties, as suggested by the existence of abundant garnets with favourable compositions in drill core therefrom in sections bearing proximal bentonites. Encouraged by the previous discovery in certain alluvial heavy mineral concentrates from the area of mineral assemblages indicative of the diamond stability field, several sample suites, including samples from 1998 field work, were submitted for detailed review. Many of the samples have returned favourable mineral assemblages all of which have been submitted for analysis by electron microprobe. It is particularly significant that results received to date help define heavy mineral enrichment vectors which will undoubtedly serve to better locate sources of the minerals. S. F. Sabag has been appointed to the position of president and chief operating officer. Mr. Sabag has been a director and vice-president of the company for several years. Cecil H. Franklin will continue to serve as chief executive officer and chairman of the board. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Chuca