Cambior Inc.: Updated Drilling Results From the J Zone Sector of the Doyon Mine; New Sector Allows the Identification of Higher Grade Mineral Resources.Business Editors LONGUEUIL Longueuil, city (1991 pop. 129,874), S Que., Canada, on the St. Lawrence River opposite Montreal. It is a residential and industrial suburb of Montreal. It annexed Montreal South in 1961, and merged with the city of Jacques-Cartier in 1969. , Quebec--(BUSINESS WIRE)--June 24, 2003 Cambior Inc. is pleased to provide an update on the exploration program in the "J" Zone of the Doyon mine, located within the prolific Cadillac Cadillac expensive automobile and status symbol. [Trademarks: Crowley Trade, 83] See : Luxury mining camp in northwestern Quebec. Since the beginning of the year, 35 drill holes totaling 10,400 meters have been completed in the eastern portion of the mine between levels 8 and 14 covering the 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. extensions of the gold-bearing structures within the "J" Zone, located 125 meters east of mine infrastructure. The majority of the drill holes intersected the extensions of the mineralized structures of the "J" Zone and confirm the economic potential of this sector. The main gold-bearing structures of the "J" Zone are characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by quartz quartz, one of the commonest of all rock-forming minerals and one of the most important constituents of the earth's crust. Chemically, it is silicon dioxide, SiO2. veins rich in pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. and chalcopyrite chalcopyrite (kăl'kəpī`rīt, kăl`kōpī'rīt) or copper pyrites (pīrī`tēz, pə–), brass-yellow mineral, sometimes with an iridescent tarnish. with the frequent presence of native gold. Exploration drilling also cut, south-east of the "J" Zone, another horizon of alteration Modification; changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. where an intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of 6.0 g Au/t over 3.0 meters was returned by drill hole R12112-03. This band offers good economic potential and will require additional work. The execution of 4,500 meters of development drilling to date confirms the continuity of the mineralized zones and the envelope of mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature as defined by exploration drilling. A longitudinal lon·gi·tu·di·nal adj. Running in the direction of the long axis of the body or any of its parts. section of the Doyon mine is attached to this press release. The most significant results from the development drilling include:
- Zone J20
- 19.7 g Au/t over 6.2 meters;
- 6.8 g Au/t over 7.6 meters; and
- 5.4 g Au/t over 4.2 meters.
- Zone J40
- 16.2 g Au/t over 3.3 meters; and
- 7.4 g Au/t over 3.0 meters.
To date, the new sector has generated inferred mineral resources, distributed over three veins between levels 12 and 15, of 356,000 tonnes grading 7.5 g Au/t, representing nearly 85,000 ounces of gold contained, using a dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. rate of 25%. The Company plans to bring these resources into the mineral reserves category by the end of the year. Exploration and development work continues, particularly between levels 8 and 12, in order to identify additional resources in this rich sector of the mine. The "J" Zone remains open in all directions. Since the discovery of this new sector at the end of 2002, Cambior has carried out 17,100 meters of drilling, representing an investment of more than Cdn $1.2 million. Given these positive results, Cambior has begun driving an access drift drift, deposit of mixed clay, gravel, sand, and boulders transported and laid down by glaciers. Stratified, or glaciofluvial, drift is carried by waters flowing from the melting ice of a glacier. on level 14 towards and within the mineralized structures of the "J" Zone. By the first quarter of 2004, Cambior expects to complete more than 10,000 meters of definition drilling between levels 12 and 15 from this new infrastructure with the goal of converting the current "J" Zone mineral resources into mineral reserves and expanding the known mineral resource envelope. Development will continue in 2004 with an investment of Cdn $3 million in order to begin production from this new sector in the first quarter of 2005. Louis P. Gignac, President and Chief Executive Officer, stated: "We are very encouraged by the results obtained which confirm the new higher grade "J" Zone near the existing mine infrastructure, thus minimizing its development expenditures. Our objective is to increase profitability and Net Asset Value by including the "J" Zone in our production plan, starting in 2005." Quality Control The exploration drilling was carried out by the personnel of the mine, under the supervision of Mr. Daniel Doucet, P. Eng P. ENG Professional Engineer P. ENG process engineer ., head of the geology geology, science of the earth's history, composition, and structure, and the associated processes. It draws upon chemistry, biology, physics, astronomy, and mathematics (notably statistics) for support of its formulations. department of the Doyon mine. Mr. Doucet is a qualified person (as defined by National Instrument 43-101) employed by Cambior for 5 years and with more than 17 years of experience in the mining industry. Results were subjected to a quality control program. This program includes rigorous control and a program of duplicate DUPLICATE. The double of anything. 2. It is usually applied to agreements, letters, receipts, and the like, when two originals are made of either of them. Each copy has the same effect. assays and core samples from the mineralized zones by an independent laboratory. To date, all the results of the samples assayed by the mine-site laboratory were corroborated cor·rob·o·rate tr.v. cor·rob·o·rat·ed, cor·rob·o·rat·ing, cor·rob·o·rates To strengthen or support with other evidence; make more certain. See Synonyms at confirm. by re-assaying by Chimitec Laboratory of Val d'Or Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. or by Lab Expert of Rouyn-Noranda. All three laboratories use the fire assay technique followed by the atomic absorption method and gravimetric analysis gravimetric analysis n. The determination of the quantities of the constituents of a compound. , as per industry standards. A longitudinal section of the Doyon mine describing the mineralized zones mentioned in the text is attached to this press release. If you did not receive it, you can download it "Download It" is Clea's debut single. It was released in the UK on September 22, 2003 and missed the top 20 charting at #21. The single had average promotion, being performed in shows like Top of the Pops. with this press release from the Cambior website, www.cambior.com, or you can contact us at the number indicated at the end of this release. Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension ) and American (AMEX AMEX See: American Stock Exchange ) stock exchanges under the symbol "CBJ CBJ Columbus Blue Jackets (NHL team) CBJ Central Bank of Jordan CBJ Conflict-Directed Backjumping CBJ Circuit Board Jack CBJ Code-Breakers Journal CBJ Class Broker for Java CBJ Color Bubble Jet ". Cambior's warrant "CBJ.WT.B" trades on the TSX. Cautionary Note to U.S. Investors - The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this document, such as "mineral resources," that the SEC guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. strictly prohibit pro·hib·it tr.v. pro·hib·it·ed, pro·hib·it·ing, pro·hib·its 1. To forbid by authority: Smoking is prohibited in most theaters. See Synonyms at forbid. 2. us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Annual Report on Form 40-F. A copy of the 2002 Form 40-F is available to shareholders, free of charge, upon written request addressed to the Investor Relations Investor relations The process by which the corporation communicates with its investors. Department. Caution Concerning Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains certain "forward-looking statements", including, but not limited to, the ongoing program to identify mineral reserves and resources in the "J" Zone, the plans and the investment required to bring the "J" Zone into production and the timetables in respect thereof. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with mining industry risks, uncertainty as to calculation of mineral resources and other risks referred to in Cambior's 2002 Annual Information Form filed with the Securities Commission of all provinces in Canada, and with the United Stated Securities and Exchange Commission, as well as the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . A map of the longitudinal section of the Doyon mine describing the mineralized zones is available on CCNMatthews' website at the following address: http://www2.cdn-news.com/database/fax/2000/CBJA0624.jpg
APPENDIX 1
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TABLE OF RESULTS
2002-2003 EXPLORATION AND DEVELOPMENT PROGRAM
J ZONE
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Hole No. Vein True Grade
Thickness (g Au/t)
(meter)
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R11940-03 J125 3.0 10.3
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R11991-03 J125 3.8 11.5
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R11992-03 J125 3.0 4.9
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R12005-03 J125 3.0 2.1
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R12038-03 J125 3.0 9.7
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R12039-03 J125 3.0 1.4
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R12039-03 J125 3.0 22.0
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R12067-03 J125 3.0 11.0
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R11611-02 J40 3.5 2.7
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R11800-02 J40 4.9 22.9
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R11871-02 J40 3.7 8.8
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R11872-02 J40 3.0 13.3
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R11873-02 J40 5.2 20.8
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R11885-02 J40 3.3 3.2
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R11909-02 J40 3.0 5.4
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R11910-02 J40 3.7 2.0
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R11940-03 J40 3.1 4.9
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R11960-03 J40 3.7 41.9
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R12016-03 J40 3.0 7.1
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R12075-03 J40 2.7 4.5
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R12091-03 J40 2.8 4.5
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R12113-03 J40 2.9 0.1
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R12114-03 J40 3.0 7.4
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R12139-03 J40 3.0 0.0
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R12140-03 J40 3.5 0.1
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R12141-03 J40 2.9 2.4
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R12161-03 J40 2.9 2.4
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R12163-03 J40 3.3 16.2
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R12164-03 J40 3.5 0.5
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R12165-03 J40 3.9 0.1
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R11269-02 J20 3.0 2.9
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R11871-03 J20 3.0 0.1
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R11872-02 J20 4.3 0.2
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R11940-03 J20 8.0 8.6
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R11941-03 J20 3.6 17.0
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R12112-03 J20 3.1 2.6
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R12129-03 J20 6.2 19.7
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R12139-03 J20 5.7 0.6
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R12140-03 J20 7.6 6.8
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R12161-03 J20 3.4 1.8
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R12163-03 J20 4.2 5.4
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R12165-03 J20 3.9 0.8
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Notes:
- Drill holes outside the limits of the resources do not appear
in this table.
- Maximum cut grades: 70 g Au/t over 1.5 meters and 105 g Au/t over
1.0 meter.
- Zones J90 and J105 are not part of the resource calculation.
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