Borealis Exploration Limited Announces Initial Results on INAA Gold Assays, Roche Bay Magnetite Deposits, NWT, Canada.LONDON, ENGLAND--(BUSINESS WIRE)--Nov. 6, 1997-- Borealis Exploration Limited Borealis Exploration Ltd. is a Gibraltar-based research and development company that owns subsidiaries dealing with materials and power transfer. The company considers itself a virtual company, and is publicly traded. (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. :BSXC, NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). :BOREF) announces initial Instrumental Neutron Activation Analysis Neutron Activation Analysis (NAA) is a nuclear process used for determining certain concentrations of elements in a vast amount of materials. NAA allows discrete sampling of elements as it disregards the chemical form of a sample, and focuses solely on its nucleus. (INAA INAA Instrumental Neutron Activation Analysis INAA Islamic National Accord Association INAA Integrated Network Access Arrangement INAA Intelligent Network Access Arrangement ) of a Roche Bay ~40% grade banded magnetite sample showing values of 6.5 ppm to 11.2 ppm gold in banded magnetite ore from The Roche Bay Magnetite Deposits. NWT NWT or N.W.T. abbr. Northwest Territories NWT Northwest Territories (of Canada) , Canada. This corresponds to 6.5 grams to 11.2 grams per tonne, or values up to approximately a third of an ounce of gold per tonne. The sample in question was a whole rock sample. Other samples tested included two samples of iron ore concentrates and one whole rock sample of approximately 25% Grade banded magnetite from the Roche Bay Adler Deposit area. These three samples all showed the presence of gold in trace quantities. The Iron Ore Concentrates sample results are possibly significant in that they could show that the gold reports to the tailings, and would therefore be recoverable. The whole rock sample, when originally collected, was accepted as typical of the magnetite deposit (~40% grade banded magnetite). Borealis Exploration technical personnel consider this single point assay significant because the gold is apparently concentrated in a structure containing hundreds of millions of tonnes of banded magnetite of approximately 40% grade Fe throughout the Roche Bay property. The company expects to begin large scale INAA testing in the latter half of 1998 though INAA work and interpretation will be ongoing from now on, including tests for other precious metals. INAA measurements were supervised by Dr. Ilhan Olmez, Environmental Research & Radiochemistry radiochemistry, chemistry of radioactive substances (see radioactivity). Radioactive isotopes are very useful as tracers to study the mechanisms of complex organic reactions, since even minute amounts of these isotopes are easily detected by means of a Geiger counter , Division Head, at the Nuclear Reactor Laboratory, An Interdepartmental in·ter·de·part·men·tal adj. Involving or representing different departments, as of a business, an academic institution, or a government: "the petty interdepartmental squabbling that surrounds the making of . . . Center of Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Cambridge, Massachusetts. INAA provides accurate measurement of element concentrations in materials without any chemical processing, thus avoiding ambiguities encountered by other methods. According to Dr. Gordon Gross, Geological Survey of Canada, Emeritus, banded magnetite deposits typically have remarkably similar patterns for the distribution and inter-relationship of trace elements even though their actual content can be erratic and far from uniform. Dr. Gross is a leading authority on iron deposits, and considers INAA analysis to be a proven assay method available for trace elements in such deposits. After gold was detected in a sample of 38% banded magnetite from Roche Bay, repeated INAA measurements (specifically optimized for determination of gold concentrations) revealed up to 11.2 ppm gold (+/- 0.5 ppm) in subsamples from that site. Free metallic gold granules Granules Small packets of reactive chemicals stored within cells. Mentioned in: Allergic Rhinitis, Allergies as well as granules associated with, or included in quartz particles were observed by light microscopy at about X 250 magnification. The deposits have long been known to contain precious metals from the work done on the property by the Ontario Research Foundation but the fire assay results of the magnetite sample failed to correlate properly with the fire assay results of the precious metal content of the concentrate and tailings. Fire Assay methods are considered to be unsatisfactory for assaying certain types of Ore, including the Roche Bay banded magnetite. Due to inconsistencies of analyses by other methods Roche Bay magnetite ore samples were analyzed by Instrumental Neutron Activation Analysis (INAA), in order to obtain an accurate determination of the elemental composition including Precious Metal credits of these iron ore samples. The Roche Bay Magnetite Deposits have recently been transferred to Roche Bay Mining Company Limited, a subsidiary of Borealis Exploration Limited.There are 4,869,879 Borealis Exploration Limited shares outstanding. Assay results, certifications, methods used and background material on INAA are available on the Borealis Web page at www.borealis.com . The company anticipates further results and news that will be released in a timely fashion. CONTACT: Borealis Exploration Limited Chris Bourne Bourne, town (1990 pop. 16,064), Barnstable co., SE Mass., crossed by Cape Cod Canal; settled 1627, inc. 1884. Bourne Bridge (1935), across the canal, made the town an entry point to Cape Cod and a resort and commercial center. , 44-181-571-5216 pr@borealis.com |
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