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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (1330)	5/26/1999 3:18:00 PM
From: John Ripley	Respond to of 1707

May 26, 1999 Exploration Commences On The Base Metal Discovery Spider Lake Project, Ontario MAJOR GENERAL RESOURCES LTD ("MGJ-V") - Exploration Commences On The Base Metal Discovery Spider Lake Project, Ontario Major General Resources Ltd. announces that field work has commenced on the Spider Lake Project near Terrace Bay, Ontario. The project is located in the productive Hemlo-Schreiber Greenstone Belt and is the site of a new VMS base metal discovery (Starhill Zone) that was made in late 1998 (see news release dated Nov. 13, 1998). The initial exploration program, consisting of 30 kilometres of linecutting followed by detailed magnetic and induced polarization (IP) surveying, will focus on the new Starhill Zone with the objective of further delineating its strike extent and defining drill targets that are to be tested later this season. Currently, the west trending Starhill Zone measures approximately 400 metres long by up to 25 metres wide and remains open along strike and to depth. Limited rock sampling in 1998 returned assays of up to 7.4% zinc, 1.94% lead, 1.54% copper, 101 g/T silver and 0.87 g/T gold from grab samples. The showing is characterized by variable amounts of disseminated, stringer and banded mineralization hosted by a steep, northerly dipping section of sheared and altered felsic to intermediate volcanic rocks. The mineralized zone occurs within a large alteration system defined by a zone of sodium depletion (6 km long by up to 1 km wide) that is semi-coincident with a potassium radiometric anomaly (4 km long by 1 km wide). These alteration signatures suggest that the Starhill Zone may be proximal to a potential massive sulphide deposit that is associated with a large hydrothermally altered volcanic centre. The volcanic rocks that host the newly discovered Starhill Zone are geologically similar to those hosting the Winston Lake VMS Deposit (3 million tons of 15.6% Zn and 1.1% Cu) located 50 kilometres northwest of the Spider Lake Project. The Starhill Zone is located on the Steel River Option which makes up the western two-thirds of the Spider Lake Project. The Company may earn 100% interest by spending $1,000,000 on exploration, making cash payments of $100,000 and issuing 200,000 shares over a period of 5 years. The claims are subject to a 2% NSR of which 0.5% may be bought out for $500,000. TEL: (604) 685-5254 Clive Massey, Corporate Communications Mgr. TOLL FREE: 1-800-667-7866 INTERNET: majorgeneral.com E-MAIL: info@majorgeneral.com