Alchemy Ventures Ltd. -- Provides New Drill Results.Business Editors LEWISTON, Idaho--(BUSINESS WIRE)--March 13, 2001 Alchemy Ventures Ltd. (CDNX CDNX See Canadian Venture Exchange (CDNX). :ALY ALY Alley ALY Alloy ALY Alexandria, Egypt - Alexandria (Airport Code) .V) is pleased to provide additional drilling results from the North Moose Meadows Basin Kaolin kaolin (kā`əlĭn): see china clay. deposit on its Helmar Bovill project in Idaho. Three holes drilled in the basin in December, 2000, returned 60-120 feet of transported sedimentary clay derived from Kaolinite kaolinite (kā`əlĭnīt), clay mineral crystallizing in the monoclinic system and forming the chief constituent of china clay and kaolin. bearing residual deposits of Moose Meadows Ridge. Kaolin contents of the unit range from 60% - 90% and average 80%. Drill Hole MC-01-25, drilled 500 meters west of MC-00-16, intersected 130 feet of mixed clay and lignitic lig·nite n. A soft, brownish-black coal in which the alteration of vegetable matter has proceeded further than in peat but not as far as in bituminous coal. Also called brown coal. sediments. Carbon contents of the clay increased substantially along the eastern margin of the basin's 1.5 kilometer by 0.6 kilometer extent. White to light grey clay units with lower carbon contents dominate the basins stratigraphy stratigraphy, branch of geology specifically concerned with the arrangement of layered rocks (see stratification). Stratigraphy is based on the law of superposition, which states that in a normal sequence of rock layers the youngest is on top and the oldest on the 250 meters west of the hole. Drill hole MC-01-26 was drilled between MC-00-16 and MC-01-25. The core hole shows a higher carbon section in the upper 55 feet with a white to light grey kaolin unit from 55 feet to 160 feet, bottoming in transported kaolin. These drill holes indicate that sedimentary kaolin in the Moose Creek area of the project has a great lateral extent and may result in substantial increases in resources of kaolin from the area. This will augment the kaolin resources identified from residual clays on Kelly's Hump and Moose Meadows Ridge. Drilling on the project continues and results of additional holes will be reported as available. Further information on the progress of the Alchemy Ventures kaolin project can be obtained on the company's website http://www.alchemykaolin.com. Investor Relations Investor relations The process by which the corporation communicates with its investors. may be reached at 877/553-6573 (toll free). On behalf of the Board of Directors: Roderick Christie / President The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has neither approved or disapproved the information enclosed in this release. Forward looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Legislation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, possible changes in the cost of materials expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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