Abacus Hits Another 358 Metres of Copper-Gold Mineralization Below Ajax Pit.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- The Directors of Abacus Mining and Exploration Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AME See AIT. ) (the "Company") are pleased to announce that three more diamond drill holes completed under the Ajax West Pit have also intersected the large zone of copper-gold rich mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. mentioned in their previous news release (see December December: see month. 19th news release). As with the first two holes, there were a number of higher-grade copper-gold intercepts encountered within broader zones of mineralization. The overall results of the drill program confirm the continuity of significant copper-gold mineralization to a vertical depth of at least 300 metres below the existing open pit. Highlights: - Drill hole AW-05-03 was drilled on section 1625 W (50 metres east of AW-05-01) at azimuth azimuth (ăz`əməth), in astronomy, one coordinate in the altazimuth coordinate system. It is the angular distance of a body measured westward along the celestial horizon from the observer's south point. 028 degrees (UTM (Unified Threat Management) Refers to a stand-alone appliance or a software package that combines a firewall, antivirus, spam and content filtering as well as intrusion detection. See firewall, antivirus, antispam and IDS. ), dip -50 degrees, for a total length of 538.6 metres. It intersected 0.47% copper and 0.28 g/t gold over 228 metres. - Drill hole AW-05-04 was drilled on section 1750 W (75 metres west of AW-05-01), near the western end of the pit at azimuth 028 degrees (UTM), dip -50 degrees, for a total length of 456.3 metres. It intersected 0.36% copper and 0.40 g/t gold over 87 metres. - Drill hole AW-05-05 was drilled on section 1525 W (150 metres east of AW-05-01), in the eastern half of the pit at azimuth 028 degrees (UTM), dip -50 degrees, for a total length of 456.3 metres. It intersected 0.47% copper and 0.36 g/t gold over 358 metres. The following table lists the above mentioned assay intervals, including significant subintervals of higher grade, and the previously released holes AW-05-01 and AW-05-02:
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From To Interval Cu Au Cu Equiv.
Hole (metres) (metres) (metres) (%) (g/t) (%)
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AW-05-03 165.0 393.0 228.0 0.47 0.28 0.63
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Incl 165.0 213.0 48.0 0.61 0.26 0.76
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And 342.0 393.0 51.0 0.72 0.51 1.02
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AW-05-04 249.0 261.0 12.0 0.62 0.69 1.02
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And 345.0 432.0 87.0 0.36 0.40 0.59
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Incl 396.0 432.0 36.0 0.39 0.43 0.66
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AW-05-05 97.0 455.0 358.0 0.47 0.36 0.68
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Incl 196.0 377.0 181.0 0.52 0.43 0.77
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Incl 247.0 323.0 76.0 0.58 0.49 0.87
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Incl 284.0 323.0 39.0 0.78 0.62 1.14
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Previously Reported Drill Holes
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AW-05-01 136.0 544.0 408.0 0.52 0.31 0.70
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Incl 331.0 496.0 165.0 0.77 0.54 1.08
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Incl 331.0 343.0 12.0 1.54 1.16 2.22
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Incl 424.0 478.0 54.0 0.88 0.56 1.21
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Incl 463.0 478.0 15.0 1.38 0.94 1.93
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AW-05-02 124.0 464.0 340.0 0.51 0.25 0.66
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Incl 136.0 159.0 23.0 0.68 0.36 0.89
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And 189.0 228.0 39.0 0.66 0.36 0.87
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And 302.0 355.0 33.0 0.70 0.33 0.89
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And 419.0 461.0 42.0 1.06 0.59 1.40
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Incl 440.0 458.0 18.0 1.19 0.64 1.56
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Note: Please refer to our web site for a drill plan and section.
Copper equivalents use metal prices of $1.00 (US) per
pound of copper, $400 (US) per ounce for gold.
All holes targeted copper-gold mineralization below the Ajax West Pit. The mineralization is most closely associated with zones of steeply dipping albite albite (ăl`bīt): see feldspar. albite Common feldspar mineral, a sodium aluminosilicate (NaAlSi3O8) that occurs most widely in pegmatites and acid igneous rocks such as granites. alteration Modification; changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. in the intrusive in·tru·sive adj. 1. Intruding or tending to intrude. 2. Geology Of or relating to igneous rock that is forced while molten into cracks or between other layers of rock. 3. Linguistics Epenthetic. host rocks. From this drill program, it is apparent there is a significant, largely untested copper-gold zone beneath the pit at depths that have never been tested. The Company believes this zone has the potential for hosting both an open pit and underground resource. Future drilling at Ajax, scheduled to begin next month, will continue to explore the extent of this zone, as well as initiate a similar program beneath the Ajax East Pit. The Company's Ajax property comprises eight 100% owned Crown Grants near Kamloops Kamloops (kăm`l  ps), city (1991 pop. 67,057), S British Columbia, Canada, at the junction of the North Thompson and South Thompson rivers. , British Columbia that encompass most of the old
East and West pits that were last mined in 1997 by Afton Af·ton A river, about 14 km (9 mi) long, in southwest Scotland. It is the "sweet Afton" of Robert Burns's 1789 poem. Operating Corp. The Ajax West Pit lies nine kilometres southeast along an existing haul road from the Afton Mill facilities, which Abacus has recently agreed to purchase from Teck Cominco Teck-Cominco TSX | TCK.B[1], NYSE: TCK) is a Canadian mining company. It was formed from the amalgamation of Teck and Cominco in 2001. Cominco started in 1906 as The Consolidated Mining and Smelting Company of Canada, formed by the amalgamation of several Limited. In addition to drilling at Ajax this year, Abacus is also planning an extensive drill program to continue testing depth and strike extensions for the previously reported Rainbow and DM-Audra resources. Eco Tech Laboratory Ltd. of Kamloops, B.C. has completed all of Abacus' analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. work on the project. A quality control program, using specific standards and blank samples is ongoing, using Eco Tech Laboratory Ltd., of Kamloops BC. Mr. Robert G. Friesen, P. Geo and Mr. Robert Darney, P. Geo are the qualified persons responsible for the design and conduct of the work performed. On Behalf of the Board, ABACUS MINING & EXPLORATION CORPORATION Doug Fulcher, President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release. Abacus Mining and Exploration Corp. (TSX VENTURE:AME) |
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