BRE-X MINERALS LTD. AFFILIATE OF BRESEA RESOURCES LTD. ANNOUNCES INITIAL BUSANG GOLD PROJECT RESERVE CALCULATION AND DRILL EXPLORATION UPDATE.CALGARY, ALBERTA--(BUSINESS WIRE)--FEBRUARY 22, 1995--BRE-X MINERALS LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : BXM BXM Broadband Switch Module (Cisco) ME: BSR BSR Business for Social Responsibility BSR Baltic Sea Region BSR British Society for Rheumatology BSR Bootstrap Router (networking) BSR Bonsoir (French) BSR Bottom-Simulating Reflector ) BRE-X MINERALS LTD. a 26% owned affiliate of Bresea Resources Ltd., announced today a resource calculation on the Central Zone of the BUSANG GOLD PROJECT East Kalimantan East Kalimantan (Indonesian: Kalimantan Timur abbrv. Kaltim) is Indonesian province on the east of Borneo island. The resource-rich province has two major cities, Samarinda (the capital and a center for timber product) and Balikpapan (a petroleum center with oil , Indonesia, has been completed under the direction of Mr. Roger Pooley, an independent Consulting Mining Engineer. A graduate of the Royal School of Mines in England, Mr. Pooley has 35 years continuous experience in all stages of mine development. The resource calculation used the available data from 45 drill holes, which were entered on a computer database using the MINEX MINEX Mine Warfare Exercise MINEX Minelaying Exercise system of Exploration Computer Services Data processing (timesharing, batch processing), software development and consulting services. See service bureau, SaaS and ASP. , Sydney, Australia. From 0m - 150m (492ft) vertical depth only 650m (2,133ft) of the 900m (2,953ft) of known 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. strike length were utilized due to insufficient drill data in the remaining 250m (820ft). 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. of +1g/t Au (.03oz/t) was contained in 27% of the 5,678m (18,630ft) drilled meterage. Excluded from the resource calculation tabulated hereunder Adv. 1. hereunder - in a subsequent part of this document or statement or matter etc.; "the landlord demises unto the tenant the premises hereinafter called the demised premises"; "the terms specified hereunder" hereafter, hereinafter 2. are greater depth extensions (below 150m (492ft)) where 5 holes intersected well-mineralized zones down to 306m (1,003ft) vertical depth. TABLE 1, BUSANG CENTRAL ZONE DRILL INFERRED GEOLOGICAL GOLD RESOURCE February 16, 1995 Cutoff Grade 1.0 Gram/Tonne
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Vertical Metres Below Million Grade Million
Topographic Surface Tonnes Grams/Tonne Ounces
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From To
0 - 20 1.73 3.54 0.20
20 - 150 8.61 2.79 0.77
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Total 10.34 2.92 0.97
The stated gold grades are recoverable grades as cyanide
extraction analysis was utilized.
TABLE 2
Cutoff Grade 0.5 Gram/Tonne
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Vertical Metres Below Million Grade Million
Topographic Surface Tonnes Grams/Tonne Ounces
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From To
0 - 20 2.17 2.98 0.21
20 - 150 12.37 2.17 0.86
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Total 14.54 2.29 1.07
-0- The stated gold grades are recoverable grades as cyanide extraction analysis was utilized. BRE-X has commenced an additional 4,965m (16,290ft) 44 diamond drill hole extension and infill program over the Central Zone utilizing two drills which is scheduled for completion by mid-May. Assay results from 3 holes already completed are tabulated as follows. In an interview from Jakarta, Mr. John Felderhof, BRE-X Sr. Vice President, stated: "We are confident that the objective of this drilling program will be met, which is to indicate an open-pittable resource of 1.5 million to 1.7 million ounces of +3g/t recoverable gold to a vertical depth of 150m (492ft) in the 900 metre-long (2,953ft) Central Zone." He further stated that: "This initial resource calculation confirmed, within a narrow frame-work BRE-X's previously projected figure. As well, the excluded depth extension results indicate an inferred additional resource of 1.0 million oz/t Au of comparable grade between the 150m (492ft) to 250m (820ft) vertical interval Difference in altitude between two specified points or locations, e.g., the battery or firing ship and the target; observer location and the target; location of previously fired target and new target; observer and a height of burst; and battery or firing ship and a height of burst, etc. ." A third diamond drill is scheduled to be mobilized in May. The three drill rigs will then commence a program over the Southeast Zone and North Zone which have a combined known strike length of 6.5 km, as previously reported. SIGNIFICANT GOLD ASSAY INTERCEPTS FROM BUSANG PROJECT
Hole Favourable Intercept Gold Gold
Number Depth From / To Length g/t oz/t
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BRH-42 101.5m (333ft) 64.5m- 85.35m 20.85m (68ft) 6.96 .20
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BRH-43 201.2m (660ft) 0.0 m- 9.0 m 9.0 m (30ft) 6.38 .19
42.4 m- 44.4 m 2.0 m ( 7ft) 6.33 .18
120.45m-121.45m 1.0 m ( 3ft) 10.40 .30
156.5m -164.5 m 8.0 m (26ft) 6.81 .20
165.9m -167.9 m 2.0 m ( 7ft) 17.90 .52
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BRH-46 120.0m (393ft) 2.0m - 8.0 m 6.0 m (20ft) 8.74 .30
12.0m - 34.0 m 22.0 m (72ft) 9.37 .27
48.1m - 49.1 m 1.0 m ( 3ft) 6.93 .20
53.2m - 58.2 m 5.0 m (16ft) 7.34 .21
82.7m - 90.35m 7.65m (25ft) 9.39 .27
99.0m -105.0 m 6.0 m (20ft) 6.36 .19
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-0- The stated gold assays are recoverable grades as cyanide extraction analysis was utilized. Note: Holes No. 42 and No. 43 drilled on the eastern extremity and Hole No. 46 drilled on the western extremity of the Central Zone form the boundaries of the aforesaid Before, already said, referred to, or recited. This term is used frequently in deeds, leases, and contracts of sale of real property to refer to the property without describing it in detail each time it is mentioned; for example,"the aforesaid premises. 900m (2,953ft) of strike. It is also indicative that the mineralization remains open to the east and west. TAWARE PROJECT - SANGIHE ISLAND NORTH SULAWESI Phase II drilling continues with results from the current program available during March 1995. BRE-X, with C$2.7 million in liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. and no liabilities, is an emerging mining company focused 100% on the mineral potential of Indonesia. BRE-X trades in the United States under S.E.C. 12g3-2(b) Exemption #82-2750 and coverage of its activities is carried in Standard & Poor's Corporation Records and Daily News Publications. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: David G. Walsh President or T. Stephen McAnulty Investor Relations Investor relations The process by which the corporation communicates with its investors. 403/247-0707 403/247-0329 (FAX) REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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