Alberta Star to Commence Phase 2-Deep Drilling Next Month on High Grade Gold Mineralization on Dixie Lake Property.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 8, 2004 Tim Coupland, President of Alberta Star Development Corp. (ASX ASX See: Australian Stock Exchange ), listed on 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. and on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). (ASXSF), is pleased to announce that its Phase 2 drilling program on the Dixie Lake Property which has intersected significant 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. , will commence on Feb 1/2004. The drilling program will follow previous high grade gold intercepts down plunge The term Plunge has multiple meanings:
2004 will be an extremely active exploration year for Alberta Star with over 5000+ metres of drilling scheduled on it's high grade gold project at Dixie Lake, Ontario commencing in February 2004, and it's Longtom Lake Copper, Gold, Silver, IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth project commencing this summer. HIGH GRADE GOLD IN THE RED LAKE BELT, ONTARIO Dixie Lake Gold Project- A 3000+ metre deep drilling program is scheduled to commence on Feb 1/2004 to test the down plunge extension of high grade gold mineralization. A 10 hole drill program completed in November 2003 intersected 4.7 metres of 8.1 g/t gold including 3.0 metres of 10.6 g/t gold and 0.6 metres of 39.7 g/t gold. Gold mineralization was encountered in all 10 holes and a five metre interval containing visible gold was intersected at a depth of 110 metres confirming the vertical continuity and depth potential of this large gold bearing system. High grade gold mineralization is wide open at depth, and the property is considered to have the potential to host a greater than 500,000 ounce resource. LONGTOM LAKE IRON OXIDE The material used to coat the surfaces of magnetic tapes and lower-capacity disks. COPPER GOLD IOCG PROJECT Longtom Lake IOCG Project- A 2,000+ metre drill program is scheduled to commence this summer to test a series of high quality coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. gravity and magnetic and IP anomalies that are part of a large Olympic Dam-style mineralizing system that is over 7.5 kilometres long. The Longtom property is a large IOCG property that will be the focus of extensive exploration this summer of 2004. THE ALBERTA STAR EXPLORATION TEAM Fronteer will be the operator for both of Alberta Star's projects, and will be supervised su·per·vise tr.v. su·per·vised, su·per·vis·ing, su·per·vis·es To have the charge and direction of; superintend. [Middle English *supervisen, from Medieval Latin by Fronteer's VP of Exploration Dr. Rick Valenta, with technical input from President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dr. Mark O'Dea and Alberta Star's consulting geologist, Brian Game, P.Geo. Management and implementation of projects are carried out by geological experts with solid exploration experience. ALBERTA STAR PARTNERS IN SUCCESS -- Alberta Star may earn 50% in Fronteer's Dixie Lake Gold Project by spending 2.0 million in exploration over 3 years. Fronteer is the operator. -- NW Mineral Ventures and Fronteer have the option to earn a 75% interest in the Longtom Lake property from Alberta Star by paying $5,000 in cash and spending an aggregate of $500,000 on exploration over 3 years. Fronteer will be the operator of the program during the earn-in period. DIXIE LAKE HIGH GRADE GOLD PROJECT Alberta Star has been granted an option to earn up to 50% interest on Fronteer's Dixie Lake Gold Property, situated 25 kilometres south of Placer Dome's Campbell mine and Goldcorp's Red Lake mine in the Red Lake Belt, Ontario. ALBERTA STAR DEVELOPMENT CORPORATION Alberta Star is a Canadian based mineral exploration company that identifies, acquires, and develops advanced staged mineral exploration properties throughout the world. It specializes in gold and base metal properties with strong data bases, which are fully permitted and drill ready for purchase or option. Alberta Star's focus is to acquire properties where due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. has indicated that there is a reasonable expectation of identifying and yielding a world-class gold deposit for its shareholders. Alberta Star has been actively identifying and targeting several high-grade gold projects that are fully permitted and drill ready, for acquisition in Canada, Mexico and Nevada. On behalf of the Board of Directors of ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President This News Release includes certain "forward looking statements" within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve that involve various degrees of risk.. The following are important factors that could cause Alberta Star's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion