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This may be a company with a lot to look forward to. Drill results and new massive sulphide occurrence Cedros Silver-Zinc-Lead Property, Honduras VANCOUVER, Mar. 1 /CNW/ - Peter Bradshaw, President and Chief Executive Officer of First Point Minerals Corp., announced today receipt of final results from the 1150-metre drill program that tested a short part of the Carmelo-Azul-Belen trend, where the target is massive sulphide pipes below and to the side of old Spanish workings. The programme was not completed as intended as drilling was adversely affected by hurricane Mitch and bad ground conditions. Significant results include: ------------------------------------------------------------------------ Area Drill From To Meters Ag Zn % Pb % Description Hole m m g/t ------------------------------------------------------------------------ Azul CD-03 162.0 163.1 1.1 44 2.62 1.97 Sulpide veining ------------------------------------------------------------------------ CD-04 144.2 144.6 0.4 318 3.59 7.78 Massive sulphides Plumoso 152.0 153.0 1.0 22 2.09 1.34 Sulphide veining ------------------------------------------------------------------------ Belen CD-07 86.0 94.0 8.0 Old workings 4.7m of old workings ------------------------------------------------------------------------ Intersections such as Azul and Plumoso are considered important indications of nearby, major mineralization, in mineral systems of this type. The old workings, which date back to the 1560s, suggest significant widths of high-grade silver. The Carmelo-Azul-Belen trend is 1km north of the Cedos Abajo bulk tonnage open pit target announced last week. In another area, Belen East, rains associated with hurricane Mitch washed out the banks of a small creek and lead to the discovery of a new occurrence of massive sulphide boulders containing high-grade silver-zinc-lead mineralization. These boulders lie directly on the eastern end of the Carmelo-Azul-Belen trend and extend that trend to the east. There are now three known locations of massive sulphide boulders over a 200-metre zone in the Belen East area with results as follows: ------------------------------------------------------------------------ Ag g/t Zn % Pb % ------------------------------------------------------------------------ Boulders from 50 to 345 11 to 30 2 to 6 3 locations ------------------------------------------------------------------------ These results, plus other massive sulphide boulders from old mine dumps in Belen, demonstrate that massive sulphides with commercial grades exist at several locations on the property. However no information as to size of the source can be made. Limited hand trenching in this area has given the following results. ------------------------------------------------------------------------ Trench Meters Ag g/t Zn % Pb % Comments ------------------------------------------------------------------------ BE-01 6.6 42 3.82 0.35 Values not closed off by trench ------------------------------------------------------------------------ BE-02 4.0 9 3.62 0.24 Values not closed off by trench ------------------------------------------------------------------------ The ground has now fully recovered after hurricane Mitch and field follow up with further trenching and drilling will be carried out later this year to follow up these targets. First Point's shares trade on the Alberta Stock Exchange under the symbol FPX. First Point is an international mineral exploration company with offices in Canada, USA and Peru, using its technical expertise to acquire properties at an early stage and advance them through exploration to discovery of significant deposits. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. %SEDAR: 00004553E -0- 03/01/1999 For further information: Peter Bradshaw, President and CEO, (604) 681-8600, or Bill Trenaman, Investor Relations, (604) 681-8600 | ||||||||||||||
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