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Gold/Mining/Energy : POE:VSE PAN OCEAN EXPLORATIONS INC. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (161)	6/7/1999 10:50:00 PM
From: bcjt	Respond to of 277

> Pan Ocean to acquire HAB claims > > Pan Ocean Explorations Inc POE > Shares issued 3,031,035 Jun 3 close $0.28 > Mon 7 Jun 99 News Release > Mr. R. Constantine Grey reports > The company has entered into an agreement with George Wilson to acquire a > 100 per cent interest in HAB claims, adjacent to the company's Tad/Toro > project. The properties are approximately 100 kilometres northwest of the > village of Carmacks, Yukon. > The HAB 1-44 mineral claims cover 890 hectares in the Dawson Range of the > central Yukon. The property lies within the prospective Tintina gold belt, > a region of active exploration that contains the Sumitomo/Teck 5.2 million > ounce gold, Pogo deposit. The properties overlies a mid-Cretaceous granitic > intrusive in contact with rocks of Yukon Tanana metavolcanics. Historical > work on the property in the early 1980s outlined three distinct, linear, > Au-As-Ag-Cu-Pb-Zn geochemical anomalies, which contain gold values up to > 1,020 parts per billion. Coincident mineralization was reported in > bulldozer trenches with values to 0.55 grams per tonne gold and 106.6 g/t > silver over a sample length of 15.0 metres. > Since the late 1960s, numerous copper-molybdenum-gold porphyry deposits and > occurrences have been discovered along a northwest-trending linear belt > that forms the Dawson Range mineral belt. The majority of these occurrences > have copper and some combination of gold and molybdenum as their chief > commodities. The largest deposit is the Casino > copper-molybdenum-gold-porphyry (675 million tons of 0.25 per cent Cu, 0.02 > per cent Mo, 0.48 g/t Au), approximately 50 km to the northwest of the HAB > and Tad/Toro claims. > Prospecting, mapping, geophysical and soil geochemistry surveys are planned > on the HAB and Tad/Toro claims in 1999 targeting gold-enriched supergene > oxide-gold zones and geophysical signatures that may represent structurally > controlled lode gold systems. > In consideration for this acquisition, Pan Ocean Explorations Inc., will > issue 100,000 shares of the company. > (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com > bcjt