Altai Acquired A Porphyry Copper-Gold Property In The Phillippines - The Mabulao One Deposit.TORONTO--(BUSINESS WIRE)--March 7, 1996--ALTAI Altai or Altay (both: ăltī`, äl–, ăl`tī, Rus. əltī`), geologically complex mountain system of central Asia; largely in the Altai Republic, Russia, and in Kazakhstan, but extending into W Mongolia (where it is called the Mongolian, or Gobi, Altai), and into N China. RESOURCES INC.(TSE: ATI) SUMMARY AND CLARIFICATION OF NEWS RELEASE DATED MARCH 4, 1996 POTENTIAL OF DEPOSIT: - 10 MILLION OUNCES OF GOLD, AND - 5 BILLION POUNDS OF COPPER EQUIVALENT (COPPER, MOLYBDENUM WITH SOME SILVER) 3 of the 5 zones explored have 72 diamond drill holes, numerous trenches and test pits. The deposit includes the potential of: 1. High grade, easily and inexpensively minable and heap-leachable oxide zones: - 1.8 million ounces of gold and 1 billion pounds of copper. Part of the oxide reserves are in the probable category. And it also contains 2. Potential sulfide inventories of - - 8 million ounces of gold and 4 billion pounds of copper. Upon compiling the results of past exploration and drilling, Altai Philippines will start an exploration program on this property. CONTACT: Altai Resources Inc. |
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