Asquith Resources Inc. - Initial Phase of Diamond Drilling Completed.TORONTO--(BUSINESS WIRE)--April 23, 1997-- Asquith Resources In(CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. ASQH. ) Asquith Resources Inc. (ASQH - CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ) announced today that it has completed its initial phase of 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 at the Agoudou Manga maNga is a popular Turkish nu metal/rapcore band. Their music is mainly a fusion of alternative metal and hip hop music, with a touch of Anatolian melodies; with heavy use of turntables, invoking comparisons with modern American nu metal bands. Gold Prospect, one of five gold prospects that have been identified on the Company's 2,000 square kilometre Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
A total of twelve (12) NQ-sized core holes were completed at the Agoudou Manga prospect, which were positioned to test the West Gold Zone (WGZ WGZ Westdeutsche Genossenschafts Zentralbank (German: Westgerman Cooperative Central-Bank) ), over a strike length of roughly 600 metres, and to a vertical depth of 80 metres. The WGZ was discovered by the Company as a result of a detailed geochemical survey, which identified a prominent gold-in- soil anomaly with a strike length of approximately 1,500 metres, and a width of approximately 100 metres. Assay values within the soil anomaly range from 0.10 grams of gold per tonne up to 6.90 grams of gold per tonne. The results of the initial phase of diamond drilling suggests that the WGZ anomaly is associated with a northeast-trending shear zone that marks the contact between a felsic fel·sic adj. Containing a group of light-colored silicate minerals that occur in igneous rocks. [fel(dspar) + s(ilica) + -ic. intrusive body and an alternating sequence of mafic volcanics and oxide iron formation. Quartz 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. dykes and sills have been emplaced along this shear zone, and are mineralised with up to 5 percent pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. , 1 percent chalcopyrite, and occasional fine free gold in quartz veins (Holes AG-2 and AG-4). Assay results have been received for the first four core holes that were completed during this initial campaign. Significant assay results are as follows:
Hole Collar Location Sample Interval: Sample Assay
No. From - To Width (grams Au
(metres) (metres) per tonne)
-------------------------------------------------------------
AG-1 0+68N\1+36W 105.30 - 105.80 0.50 0.36
166.20 - 166.70 0.50 0.40
AG-2 1+63N\1+21W 80.50 - 81.00 0.50 3.52
98.00 - 100.00 2.00 12.59
AG-3 3+58N\1+05W 89.00 - 89.60 0.60 1.43
97.50 - 98.10 2.00 2.17
AG-4 1+17N\1+33W 86.40 - 87.80 1.40 6.93
103.10 - 105.40 2.30 9.28
123.50 - 124.20 0.70 1.41
The Company expects to receive assay results for the remaining eight core holes during the next two weeks. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , the diamond drill equipment will remain on-site, in anticipation of the second phase of drilling which is scheduled to commence shortly. Surface exploration activities on the Roandji property are continuing on two fronts. Geological mapping and geochemical surveys are continuing at the Agoudou Manga prospect, and are focusing on tracing the WGZ anomaly along strike to the northeast and southwest. At present, the soil sampling program has traced the gold anomaly over a strike length of one and one-half kilometres, where the anomaly remains open along strike. This prominent soil anomaly, extends along the edge of a well defined, northeast-trending airborne magnetic anomaly, which can be traced over a strike length of four (4) kilometres northwards to the Baidou River. The Company has also expanded its exploration effort north of the Baidou River, in the vicinity of the Baidou Gold Prospect, which is situated approximately six kilometres to the northeast of the Agoudou Manga prospect. Here, gold mineralisation has been found to be in association with a north-trending shear zone, and like the Agoudou Manga prospect, runs along the edge of an airborne magnetic anomaly. Surface sampling in just one location across the shear zone, which is mineralised with quartz-carbonate veins and stringers, has returned an assay value of 1.72 grams of gold over a sample width of 5.0 metres. Additional exploration results will be released as they become available. There is a map available by contacting the company at the number above. CONTACT: Asquith Resources Inc. Michael D. Coulter, 416/ 368-0993 or Asquith Resources Inc. Kenneth W. Johnson, 416/ 368-0993 |
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