American Resource Discovers New Mineralized Zone at San Gregorio.GREENBRAE, Calif.--(BUSINESS WIRE)--Dec. 18, 1995--American Resource Corp. (ARC)(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AREE) announced the discovery of a new 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. zone at its San Gregorio San Gregorio may refer to several places in the United States:
Drill holes MB 15 and MB 07 located near the western limit of one of the designated pit areas of ARC's planned San Gregorio Mine, currently scheduled to commence production in 1997, intercepted 33 feet (10 meters) and 26 feet (8 meters) respectively of 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. , averaging approximately 0.082 oz/ton (2.8 grams/tonne) within the new zone. The grade, alteration characteristics and style of gold mineralization within the zone are similar to those within the present main pit reserve and will be amenable for treatment in the current processing facility planned for San Gregorio. This new zone of mineralization has been intercepted in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. of the San Gregorio shear zone approximately 130 feet (40 meters) beneath the surface and 50 feet (15 meters) beyond the previously defined limits of the main pit mineralized envelope. The discovery was made in the course of the company's current in-fill drilling program in the San Gregorio main pit ore body, in a drilling campaign designed to increase the information on the reserve as well as provide geotechnical and hydrologic data necessary for detailed mine planning. This drilling program will evaluate the continuity of the new zone along strike and at depth. If proven continuous over a substantial strike length, the new zone will have a significant, positive impact on the San Gregorio ore reserves and economics. Two additional drill rigs are being mobilized to expedite the infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. drilling program and continue with delineation of gold mineralization at the Santa Teresa Santa Teresa may refer to:
At Santa Teresa, core drilling conducted in the second half of 1995 has identified another mineral system within the same major shear complex which hosts the San Gregorio deposit. Each of the 18 holes completed to date in the 1995 Santa Teresa program have intercepted gold mineralization of similar thickness and grade to that in the San Gregorio reserve base. CONTACT: American Resource Corp. Stephen N. Anderson, 415/461-6868 415/776-6499 (home) |
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