Antares Mining and Exploration Corporation - Encouraging Start to Creek Zone 1998 Drilling Program.TORONTO--(BUSINESS WIRE)--June 30, 1998--Antares Mining and E(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ANZ ANZ Australia and New Zealand ANZ Australia and New Zealand Banking Group Limited ANZ Air New Zealand (NZ national airline) .) Antares is pleased to announce the drilling results of phase one of the 1998 exploration drilling program on the Creek Zone of the Toodoggone property in North Central British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography which commenced as planned on May 29, 1998. The 1997 drilling program closed on a high note with an excellent result from hole CZ97-08 in the Creek Zone. The discovery hole intersected a high grade 103.3 gm. Au/tonne (3.32oz/tonne), 92.2 Ag/tonne (2.97 oz. Ag/tonne), 1.34 percent Cu, 0.46 percent Pb, and 11 percent Zn in an approximate 2.5 metre true width between 91 and 95 metres consisting of near massive sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. within a 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. carbonate stockwork seen in earlier holes Analysis of all information available to date suggest the presence of a much larger mineralized body than previously envisaged, as drilling to date appears to have been conducted on what is merely the western rim of a large mineralized halo. The drilling and 10 kilometres of ground electromagnetics completed to date are very encouraging, giving strong evidence that an alteration envelope, thought to be in the vicinity of the highly mineralized hole CZ97-08, correlates with a very pronounced magnetic low indicative of a highly mineralized zone. The persistent magnetic low is coincidental co·in·ci·den·tal adj. 1. Occurring as or resulting from coincidence. 2. Happening or existing at the same time. co·in with anomalous soil geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of and I.P.survey results that extend 700 metres to the south along the axis of the the diameter of the sphere which is perpendicular to the plane of the circle. See also: Axis host structure. The low magnetics strongly suggest an alteration zone, indicated by the depletion of magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. from epithermal incursion in·cur·sion n. 1. An aggressive entrance into foreign territory; a raid or invasion. 2. The act of entering another's territory or domain. 3. up and along the controlling Creek Zone fault structure. The geological setting of the Creek Zone discovery is a shallow dipping massive andesite andesite Any member of a large family of rocks that occur in most of the world's volcanic areas, mainly as surface deposits and to a lesser extent as dikes and small plugs. flow and flow breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. , cut by sub-vertical fractures in which a mineralized stockwork has developed. The veining vein·ing n. Distribution or arrangement of veins or veinlike markings. carries high grade values in gold, silver, lead, copper, zinc, and varies in widths from a few cm to 2-3 metre wide replacement zones of near massive sulphides. Antares has completed the first phase, totalling 3,384 ft. of drilling in seven NQ holes, of the initial 1998 diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral program, covering only a portion of the geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. anomaly associated with the 700 metre long aeromagnetic low. The second phase of the 1998 drilling program is planned to test the central and southern parts of the anomaly based on recently completed ground geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. . A program of ground magnetics to better define the I.P. and soil geochem anomaly which is coincidental with the zone, will also be conducted. Ground geophysics is focussing specifically on the area to the south of current drilling where coincidental airborne geophysics and ground geophysical anomalies occur. As stated, drilling results indicate that the first phase program was conducted in the wide halo of mineralized carbonate stockwork. Examination of the cores also suggest a fracture controlled gold-silver-zinc-lead-copper carbonate system as veins injected in·ject·ed adj. 1. Of or relating to a substance introduced into the body. 2. Of or relating to a blood vessel that is visibly distended with blood. injected 1. introduced by injection. 2. congested. into shallow dipping layers of massive andesite flow breccia. The first hole of the 1998 program CZ98-09 was targeted and drilled 18 m. east of the discovery hole. The first six holes were drilled in the same E-W E-W East-West fence as CZ97-08, while CZ98-15 was drilled perpendicular to the fence. Holes CZ98-09 to 15 all intersected widespread geochemically anomalous gold values beyond the reported intersections. Initial Fire Assaying conducted at Eco-Tech Laboratories Ltd. of Kamloops B.C. returned the following results:
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Hole Interval Width Gold (Au) Gold (Au)
number (metres) (metres) (grams/tonne) (ounces/ton)
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CZ98-09 11.6 - 12.0 0.4 1.99 0.058
080 degrees 49.0 - 63.5 14.5 0.82 0.024
at -45 57.0 - 57.5 0.5 6.52 0.190
degrees E 62.2 - 62.4 0.2 8.15 0.238
81.7 - 98.4
includes:- 16.7 2.50 0.073
82.1 - 88.8 ) 6.7 5.24 0.153
82.1 - 86.4 ) 4.3 6.64 0.194
82.1 - 83.9 ) 1.8 10.20 0.298
82.1 - 82.3 ) 0.2 70.00 2.041
83.7 - 83.9 ) 0.2 20.30 0.592
84.2 - 84.7 ) 0.5 3.49 0.102
84.7 - 84.9 ) 0.2 2.56 0.075
87.3 - 87.8 ) 0.5 5.34 0.156
T.D. 129.5
metres 85.8 - 86.4 ) 0.6 10.94 0.319
88.8 - 98.4 ) 9.6 0.65 0.019
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CZ98-10 31.85 - 41.36 9.51 1.40 0.041
080 degrees 37.73 - 40.75
at -60 includes:- 3.02 2.98 0.087
degrees E 37.73 - 37.92) 0.19 17.30 0.505
40.08 - 40.23) 0.15 22.80 0.665
65.35 - 72.42 7.07 0.85 0.025
89.49 - 96.38 6.89 0.75 0.022
104.03 - 108.39 4.36 0.48 0.014
T.D. 140.2
metres 117.96 - 118.90
includes:- 0.94 8.12 0.237
118.20-118.38) 0.18 41.10 1.199
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CZ98-11 12.5 - 13.0 0.5 1.68 0.049
270 degrees 20.5 - 21.0 0.5 3.25 0.095
at -48 32.0 - 33.0 1.0 0.79 0.023
degrees W 35.5 - 36.0 0.5 1.13 0.033
38.0 - 38.5 0.5 0.92 0.027
41.50 - 42.5
includes:- 1.0 2.57 0.075
41.5 - 42.0 ) 0.5 3.55 0.104
86.5 - 87.5 1.0 0.68 0.020
96.0 - 97.5
includes:- 1.5 1.61 0.047
T.D.159.7
metres 96.5 - 97.0 ) 0.5 4.28 0.125
108.5 - 109.0 0.5 1.81 0.053
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CZ98-12 54.5- 57.0 2.5 1.37 0.040
270 degrees 78.0 - 81.5
at -60 includes:- 3.5 1.47 0.043
degrees W 81.0- 81.5 ) 0.5 4.47 0.130
84.0 - 84.5 0.5 10.3 0.315
88.8 - 90.0 1.0 2.50 0.073
93.5 - 115.0
includes:- 21.5 3.05 0.089
93.5 - 95.0 ) 1.5 0.82 0.024
101.0 - 102.5 1.5 0.82 0.024
108.0 - 111.0
includes:- 3.0 18.7 0.545
108.5 - 108.5) 0.5 26.5 0.773
108.5 - 109.0) 0.5 9.7 0.283
109.0 - 109.5) 0.5 19.1 0.557
109.5 - 110.0) 0.5 35.6 1.038
110.0 - 110.5) 0.5 9.4 0.274
110.5 - 111.0) 0.5 11.9 0.347
T.D.175.9
metres 111.0 - 113.0 2.0 1.54 0.045
---------------------------------------------------------------
CZ98-13 49.53 - 49.83 0.30 1.12 0.033
270 degrees 56.69 - 57.30 0.61 12.20 0.217
at -72
degrees W
T.D. 139.6
metres 89.37 - 91.14 1.77 0.65 0.019
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CZ98-14 20.0 - 20.50 0.5 0.53 0.015
072 degrees 40.50 - 43.75 3.25 5.24 0.153
at -45
degrees E
Hole 1 metre
offset from 40.50 - 42.25
hole CZ97-08. includes:- 1.75 8.84 0.258
41.00 - 42.00) 1.0 14.66 0.428
87.0 - 94.50
includes:- 7.5 0.82 0.024
87.0 - 89.50) 2.5 1.30 0.038
T.D 144.8
metres 95.5 - 96.0 0.5 0.52 0.015
109.25 - 109.75 0.5 4.78 0.139
---------------------------------------------------------------
CZ98-15 31.24 - 34.50 3.26 0.65 0.019
170 degrees 37.34 - 44.93
at -45 includes:- 7.56 1.23 0.036
degrees S 39.96 - 44.93) 4.97 1.64 0.048
39.96 - 40.36) 0.4 3.05 0.089
43.28 - 44 93) 1.65 2.81 0.082
Hole drilled 44.50 - 44.93) 0.43 5.34 0.156
perpendicular 49.41 - 50.20 0.79 9.07 0.265
to other 59.13 - 59.86 0.73 3.15 0.092
holes. 64.16 - 65.84 1.68 1.00 0.029
67.97 - 69.19 1.22 1.27 0.037
79.07 - 82.36 3.29 0.86 0.025
96.47 - 97.84 1.37 1.30 0.038
99.67 - 102.17 2.50 1.95 0.057
138.53 - 138.84 0.31 14.5 0.423
T.D. 147.8
metres 140.76 - 141.21 0.45 5.52 0.161
145.79 - 146.51 0.72 5.18 0.151
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Antares owns an approximate 39.6 percent interest in, and operatorship of, the Toodoggone properties, which can be increased to 55 percent by spending a further $1,400,000. Antares joint venture partners in the Toodoggone project is AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers Americas Gold Corporation [(AGA - VSE See DOS/VSE. VSE - Virtual Storage Extended ) (AGCFF-OTCBB)]. In addition to the Toodoggone project, Antares holds 76.5 percent interest in, and operatorship of, the 32,004 hectares Ojolali gold and silver property located in Sumatra, Indonesia; and a 37 percent interest in the producing Lady Lina gold mine in Zimbabwe. Antares also owns an indirect 24.75 percent beneficial interest in Rappa Holding (Proprietary) Limited which it has agreed to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. for pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern proceeds of approximately $3,400,000 as announced on June 23, 1998. Antares has recently completed a $2,000,000 investment in Steppe steppe (stĕp), temperate grassland of Eurasia, consisting of level, generally treeless plains. It extends over the lower regions of the Danube and in a broad belt over S and SE European and Central Asian Russia, stretching E to the Altai and S to Gold Resources Limited (SPE-VSE) announced in the press release of June 29,1998. NOTE TO EDITORS: NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
CONTACT: Antares Mining and Exploration Corporation
Dennis Gray, 416/861-9940
or
Antares Mining and Exploration Corporation
Peter Southward, 416/861-9940
Or visit our web site at www.antaresmining.com
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