Altai Resources Announces High Grade Drill Results From Philippines Copper-Gold Property.TORONTO--(BUSINESS WIRE)--Aug. 13, 1996--Altai Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) Altai Resources Inc. has now received an independent evaluation, by Southampton Associates Inc., consulting geologists and engineers, of Altai's eight properties in the Philippines, which confirms the exploration potential of these properties. At Mabulao, a 43,000 acre property located 200 kilometres south of Manila in the past producing Paracale gold camp, Southampton reports the occurrences of several porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. type copper-molybdenum-gold and epithermal gold deposits, as well as the presence of skarn skarn In geology, a metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by and replaced with chemical elements that originate from the igneous rock mass nearby. type iron-copper, lead-zinc-silver-gold deposits. Southampton documented records of five exceptional diamond drill holes with values as high as 1.8 gr/t over 101 metres. These holes were drilled in 1960s by previous operators and assays are as follows: -0- Hole Core Length in Copper Molybdenum Gold grams per No. metres and feet percent percent tonne ---- ---------------- -------- ---------- -------------- OP-356 97.56 / 300 feet 0.45 0.18 1.26 OP-361 101.19 / 310 feet 0.35 0.086 1.85 OP-362 201.80/ 610 feet 0.42 0.08 not assayed OP-363 125.91/ 380 feet 0.38 0.52 not assayed BGU-61 162.00/ 500 feet 0.27 0.03 1.53 Holes OP-361 and OP-362 stopped in 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. . The Paracale gold camp has recorded production of 4.3 million ounces of gold. Dr. Niyazi Kacira, President of Altai Resources said in a statement: "We are obviously very pleased with Southampton's findings. These holes may indicate the presence of a large copper-molybdenum porphyry deposit with significant gold value of about 1200 metres in length. In addition, Altai is evaluating an epithermal gold deposit elsewhere on the Mabulao property. Altai has started an exploration program consisting of pitting, trenching, tunnelling and drilling, which is expected to last 8 months. In September, Altai will be starting exploration programs on two other gold properties also located in the Philippines." Altai Resources is a Canadian mineral exploration company with an exceptional international portfolio of gold and copper properties in the Philippines and Peru - the "Pacific Ring of Fire “The Ring of Fire” redirects here. For other uses, see Ring of Fire. The Pacific Ring of Fire is an area of frequent earthquakes and volcanic eruptions encircling the basin of the Pacific Ocean. ". Altai is traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with approximately 13 million shares issued and outstanding. CONTACT: Oxford Investor Relations Investor relations The process by which the corporation communicates with its investors. Mr. Forbes West, 416/868-6666 416/868-0943 (Fax) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion