Altai Resources Inc. announces preliminary results from Mabulao property, Philippines.TORONTO--(BUSINESS WIRE)--Sept. 30, 1996--ATI (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. (ATI, TSE - US Sec. Rule 12g3-2(b) File No. 82-2950) is pleased to release its first progress report on ongoing exploration work in the Submakin area of the Mabulao Project, Paracale Camp, Philippines. The Submakin area is one of five mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. areas in this property. Three types of 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. occur in the Submakin area; magnetite-lead-zinc-silver skarn deposits, a silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. pyrite-gold bearing zone and a massive sulphide deposit of pyrite-chalcopyrite (possibly gold bearing). Two zones of magnetite-lead-zinc-silver skarn, 100 meters apart, have been traced by trenching and pitting for a strike length of about 400 meters each and are open along strike. The skarn zones consist of a massive central portion 2 to 2.5 meters thick within a much wider (up to 100 meters) zone of disseminated mineralization. To date partial assays (copper, gold, silver) of 53 samples (out of 140 collected to date) have been received. Copper values vary from 0.023 percent to 1.3 percent, silver from 0.6 gr/tonne to 142 gr/tonne, and gold from trace to 8 gr/tonne. Lead, zinc, and molybdenum assays are awaited. The silicified pyrite-gold zone appears to have (based on 12 trenches and pits) a strike length of 1,300 meters and an average width of 100 meters. These dimensions are preliminary estimates as it is too early in the program to determine them precisely. Gold was panned from some of the trenches. At present there is no assay available from this zone. The massive sulfide zone is intermittently exposed over a strike length of 500 meters and is reported to be up to 8 meters in width. The occurrence will be trenched and test pitted before year end for copper and gold assays. The program in the Submakin area started in early August and is expected to last another three months. Work on Tamisan - Bulawan area of gold mineralization, six kilometers west of Submakin, has started recently. 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: Altai Resources Inc. Ms. Maria Au, 416/869-1338 or Altai Resources Inc. Mr. Forbes West, 416/868-6666 |
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