Carlin Resources Corp. provides update on its activities on The Volta Diamond Project and the Chickiwere Gold Project in Ghana, West Africa.VANCOUVER--(BUSINESS WIRE)--Dec. 15, 1995--The Company is pleased to provide the following update on its activities on the Volta Diamond Project and the Chichiwere Gold Project in Ghana, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Volta Diamond Project The company currently has 125 people carrying out a stream sediment sampling program over the 145 sq. km. concession located in the Birim River Diamond field. Samples of 1 to 2 cubic meters are being processed, with diamonds and heavy mineral concentrates being collected for detailed mineralogical min·er·al·o·gy n. pl. min·er·al·o·gies 1. The study of minerals, including their distribution, identification, and properties. 2. A book or treatise on mineralogy. and chemical analysis. To date, 57 of the 117 planned samples encompassing the concession's 20 major drainages have been processed. Preliminary results from the airborne geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. have outlined several interesting features, requiring further processing of this data. Results to date suggest a 10 km long by 3 km wide corridor of highly prospective ground. Within this corridor lie most of the occurrences of large alluvial diamonds (i.e. greater than 0.5 carats), and higher grade alluvial workings. Most significantly, the first occurrence of bedrock diamonds on the concession has been discovered within this corridor as well as an area thought to contain chromium rich garnets. Two of the stream sediment samples processed to date contain extremely high concentrations of greater than 15 diamonds per cubic meter of gravel. The drainages representing these particular samples originate in Verb 1. originate in - come from stem - grow out of, have roots in, originate in; "The increase in the national debt stems from the last war" the immediate vicinity of an elliptical el·lip·tic or el·lip·ti·cal adj. 1. Of, relating to, or having the shape of an ellipse. 2. Containing or characterized by ellipsis. 3. a. airborne magnetic anomaly Magnetic Anomaly may refer to:
The stream sediment sampling program is projected for completion by the end of January, 1996 and will be followed by a bedrock trenching program over selected targets. Chichiwere Gold Project The Chichiwere concession is located in the Sefwi Belt of the Ashanti Region Ashanti is an administrative region in central Ghana. Most of the region's inhabitants are Ashanti people, one of Ghana's major ethnic groups. Most of Ghana's cocoa is grown in Ashanti, and it is also a major site of Ghana's gold-mining industry. , approximately 20 km. along strike from the historic Bibiani mine which had past production of 2.2 million ounces of gold. International Gold Resources has recently completed 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. on the Bibiani project which identified over 1.4 million ounces of new reserves. The Chichiwere project currently employs 127 workers on a trenching and soil sampling program. To date, eleven trenches have been completed and the company is awaiting assay results. Extensions have been found to the vein systems hosted by the Upper and Lower Anomaly areas. One of the more significant trenches extended the Upper Anomaly vein system approximately 1.0 km. This brings the cumulative strike length of this system to more than 2.1 km. The Grid #1 Anomaly lies on the intersection of three major gold bearing structures. Line cutting, geological mapping and soil sampling are progressing in the area where several anomalous gold values in stream sediments have been identified in order to establish drill targets for 1996. Tera Gold Concession The company has now finalized the first phase of the exploration program for its large 1500 sq. km. Tera concession in Niger. This property is adjacent to the Koma Bangou gold project currently held in joint venture by Echo Bay Resources and Etruscan Resources who announced a bulk tonnage discovery of 580,000 ounces in July to add to their 800,000 ounce reserve. Field operations will commence in early 1996. Other Projects The company currently has additional concession applications pending in Ghana and Burkina Faso, and is actively evaluating additional projects in other countries in Africa. Carlin's common shares are listed 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). (CLM CLM - Career Limiting Move ). -0- (Signed) ------------------- James M. Carter President CONTACT: Richard Roy/Dale Paruk, 800/436-4404 |
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