CARLIN RESOURCES CORP. ANNOUNCES NEW GOLD DISCOVERIES ON TERA PROPERTY, NIGER.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 18, 1997-- Joint venture partner Ashanti Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. has informed Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] that the large property wide soil sampling program which began in November 1996 has now been completed. A total of 28,842 samples were collected. Results received to date have revealed a number of clusters of new gold anomalies, in addition to those located last season. During the course of soil sampling, 1,538 rock samples consisting mainly of surface quartz float were also collected. Results received to date have revealed two new gold occurrences returning values up to 10.8 g/t gold (0.35 oz per ton). Follow up work on both the numerous gold in soil anomalies and the gold in quartz occurrences has now begin. Detailed soil sampling will be carried out to better define targets for trenching, which will be followed by a drill program scheduled to begin in May. The target on the Tera Gold Property is at least one large open pit gold deposit, with the focus of exploration on the property being a wide 20 mile long shear zone and splays off this shear. Early work by an international development agency first outlined this shear, which was defined by wide spaced gold in soil anomalies and airborne electromagnetic conductors. The recent work program by Carlin and Ashanti have better defined some of these early anomalies and discovered both new anomalies and gold occurrences. Under the terms of the existing joint venture, Ashanti as operator must spend a minimum of US $2 million by December 31, 1998 and produce a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. in order to earn 51% of Carlin's 90% interest in the property. Ashanti is one of the world's largest gold mining companies. It operates several gold mines throughout Africa producing more than 1,000,000 ounces of gold per year with growing reserves of over 30,000,000 ounces. The Company also wishes to announce that it has today granted two employees and three Directors incentive stock options for the purchase of 478,800 shares in its capital. The options are exercisable on or before February 18, 2002 at a price of $1.03 per share, being the average closing price of the Company's hares on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). for the last five trading days. These options are granted under the Company's Stock Option Plan and are subject to regulatory approval. Carlin's common shares are listed on The Vancouver Stock Exchange (CLM CLM - Career Limiting Move ). James M. Carter President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Head Office: Suite 670 - 355 Burrard Street Burrard Street is a major thoroughfare in Vancouver, British Columbia, Canada. It is the central street of Downtown Vancouver and the Financial District. The street is named for Burrard Inlet, located at its northern terminus, which in turn is named for Sir Harry Burrard. , Vancouver, BC V6C 2G8, Telephone: (604) 687-6506, Fax: (604) 687-6504. CONTACT: Carlin Resources Corp. Richard Roy
Richard Roy is a director, actor and screenwriter. Filmography Director
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