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Expatriate Resources Ltd EXR VSE November 5, 1996 Confirms Vms Discovery On Ice Property EXPATRIATE RESOURCES LTD ("EXR-V;EXPTF-L") - Confirms Vms Discovery On Ice Property Alan R. Archer, Chief Financial Officer, announced Expatriate Resources Ltd. is pleased to confirm discovery of volcanogenic massive sulphide (VMS) mineralization at the company's 100 percent owned Ice property in southeastern Yukon. The discovery has important economic implications because the VMS mineralization has a much higher gross metal value than secondary copper in previously announced holes due to significant bi-product metals plus a higher copper grade. Assays for the discovery hole (IC96-34) are tabulated below. Intersected Hole No. Width Copper Cobalt Silver Gold (m) (percent) (percent) (g/t) (g/t) IC96-34 20.56 5.20 0.06 25.1 0.60 The drill intersection appears to be true width and exhibits sharp, conformable contacts with the surrounding basalt wallrocks. The mineralization consists of massive, relatively coarse-grained pyrite, bornite and chalcopyrite with minor chert gangue. It should be suitable for open pit mining because the sulphide-bearing strata was intersected approximately 60 m below surface and dips at about 40 degrees to the east, which is only slightly steeper than the slope of the overlying hillside. Although the VMS discovery is located adjacent to a 450 m long, up to 200 m wide zone of secondary copper mineralization (see attached map and refer to previous News Releases dated July 29, September 4 and October 2 and 23), it is not likely to have been the source of the secondary mineralization because it lies downhill and is unoxidized. The source is probably a similar but undiscovered sulphide body lying north or northwest of the secondary copper zone. Potential for additional VMS or secondary copper discoveries is excellent because the known mineralization is open in several directions and drilling to date has only tested parts of six claims within a property totalling 1081 claims. Helicopter-borne magnetic and electro-magnetic surveys covering the entire property have just been completed and results are expected in about six weeks. TEL: (604) 683-1610 Alan R. Archer Chief Financial Officer FAX: (604) 688-2578 ________ | ||||||||||||
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