Akiko Gold reports Nevada drilling and board change.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 21, 1994-- Akiko Gold Resources Ltd. reports completion this month of eight drill holes (each about 300 feet deep) surrounding the encouraging ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly drill hole (CB 94-2) completed last month on a previously undrilled portion of the Company's Bru Lovie joint venture project in Crescent Valley, Nev. Hole CB 94-2 intercepted 35 feet of 0.069 oz./ton gold within 60 to 95 feet from surface. This is relatively high grade gold 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. compared to the lower grades that are profitably produced by heap leaching Heap leaching is an industrial mining process to extract precious metals and copper compounds from ore. Process The mined ore is crushed into small chunks and heaped on an impermeable plastic and/or clay lined leach pad where it can be irrigated with a leach solution to open-pit mineralization (where sufficient quantities have been discovered) in some of Nevada's Battle Mountain and Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend gold mining operations. A total of 30 reverse circulation holes (18 on Bru Lovie and 12 widely spaced holes on the Mud Springs joint venture property including the Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. lease ground) have been drilled so far in this Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA program. Of the twelve Phase III assays received to date by the Company, CB 94-2 appears to have potential economic significance. Drilling has now been suspended for the holiday season and is scheduled to resume early in January. Assays are expected by that time for the 18 remaining holes, including the eight holes drilled to test the potential economic significance of CB 94-2. These Nevada joint venture projects encompass 13,500 acres, beginning immediately north of the AMAX/Coral "Robertson" gold deposits, and four miles north of Placer Dome's eight million ounce "Pipeline" gold deposits. The Bru Lovie project is held 50% by Akiko Gold and 50% by Bradner Resources Ltd., with Ramrod ram·rod n. 1. A rod used to force the charge into a muzzleloading firearm. 2. A rod used to clean the barrel of a firearm. 3. A harshly demanding overseer; a disciplinarian. tr.v. Gold earning 25% from each company by funding the first $1.5 million of exploration, land and lease costs. The Mud Springs project (including the Santa Fe lease ground which connects it to the Bru Lovie) is being funded 50% by Ramrod, 25% by Bradner, and 25% by the Company. Meanwhile, underground drilling and driving of new drifts to facilitate further reserve expansion drilling have commenced at the high grade New Burgin silver/lead/zinc deposit in Tintic, Utah where the company is earning a 50% joint venture interest in that advanced exploration/development project. In Ghana's Bibiani greenstone belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. , planning is underway for initial exploration of the Company's recently acquired highly prospective gold exploration property concession before considering potential joint venture partners. Separately, Akiko Gold reports that Michael Levinson has resigned as Chairman and that Akiko Levinson has resigned as a Director of the Company effective December 31, 1994. In recognition of Levinson's years of dedicated service to the Company, the Board of Directors has appointed him Chairman Emeritus e·mer·i·tus adj. Retired but retaining an honorary title corresponding to that held immediately before retirement: a professor emeritus. n. pl. (Honorary/Retired). Stephen Flechner has been appointed Chairman of the Board of Akiko Gold effective Jan. 1, 1995. Flechner will also continue to serve as President and C.E.O. of the Company, with no change in the Company's operations or in its commitment to build value for its shareholders. CONTACT: Akiko Gold Resources Ltd. Stephen E. Flechner, 604/689-0988 |
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