Central Asia Goldfields Corporation Announces $4.7 million Exploration Program for 1997.TORONTO--(BUSINESS WIRE)--March 6, 1997--Central Asia Goldfie(ME CGZ.) A successful 1996 exploration program that increased tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. on two deposits and identified a third new prospect has prompted Central Asia 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. Corporation (CAGC CAGC Canadian Association of Genetic Counsellors (Oakville, ON, Canada) CAGC Clutter Automatic Gain Control ) to go ahead with a $4.7 million exploration program in 1997. The 1997 exploration program calls for 36,900 meters of drilling with a focus on expanding tonnage on two prospects - Raigorodok and Ashiktas -- and a continuing evaluation of the recently discovered Ortasay prospect. New drill programs will begin on 15 new targets. Central Asia will fund the program with its approximately $10 million of working capital which is comprised of cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has . CAGC also expects to have sufficient funds to identify and acquire promising new exploration opportunities and continue exploration programs throughout 1998 and 1999. CAGC's 1996 first-stage exploration program, which focused on evaluating previous Soviet data, saw the completion of 16,000 meters of drilling in 73 holes on 14 targets and the identification of three significant prospects. As previously reported, past Soviet data at Raigorodok estimated a minimum two million ounce resource, however CAGC results ran about ten percent higher prompting the Company to extend its drill program throughout the winter. CAGC is currently drilling two additional fences of step-out holes situated 100 metres on either side of the initial test zone to determine the strike continuation of the 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. . The substantial thickness of the zones intersected to date at Raigorodok suggest the potential for a near-term, large tonnage deposit amenable AMENABLE. Responsible; subject to answer in a court of justice liable to punishment. to inexpensive, open-pit, heap-leach technology. The presence of gold mineralization in every hole at the Ashiktas gold project resulted in CAGC continuing its drilling program throughout the winter before undertaking an updated reserve estimate. Soviet drilling outlined a resource of 465,000 tonnes grading 2.5 grams of gold per tonne. CAGC drilling confirmed the existence of an anomalous a·nom·a·lous adj. 1. Deviating from the normal or common order, form, or rule. 2. Equivocal, as in classification or nature. , gold-enriched zone along a two kilometer strike length within an interlayered series of sediments and volcanic tuffs. The gold mineralization is associated with an east-west, regional structural dislocation dislocation, displacement of a body part, usually a bone. When a bone is dislocated, the ends of opposing bones are usually forced out of connection with one another. In the process, bruising of tissues and tearing of ligaments may occur. zone. Gold mineralization is found in related secondary structures and CAGC is presently focusing on these areas in order to define a near-surface, higher-grade zones amenable to open-pittable, heap-leachable mineralization of higher grade material. An intersection grading 9.5 grams of gold per tonne over 11 meters at a depth of only 35 meters at CAGC's Ortasay prospect confirmed and enhanced excellent assays previously obtained by the Soviets on surface trenches. This occurrence is part of an anomalous gold trend extending at least five kilometers. CAGC presently considers Ortasay as the most promising property in the Company's portfolio. In addition to its extensive exploration properties in Kazakstan, CAGC also holds the largest share position in Kazakstan Goldfields Corporation (KGFC - 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. ) and a 25 percent carried interest in KGFC's Gold Pool joint venture whose principal assets in Kazakstan include a management contract for three operating mines as well as two exploration licenses covering three million acres. CAGC has one of the largest exploration programs in Kazakstan. Through its 70 percent joint-venture ownership, the Company holds licenses covering 11 million acres and estimated gold resources of over 7.7 million ounces. Central Asia is a Canadian public company whose shares are listed on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg (symbol "CGZ"). Central Asia has approximately 13.4 million shares issued and outstanding. CONTACT: Central Asia Goldfields Corporation Thomas Griffis, 416/867-9087 or Central Asia Goldfields Corporation Mike Campbell For other persons named Mike Campbell, see Mike Campbell (disambiguation). Michael (Mike) Wayne Campbell (born February 1 1950 in Panama City, Florida in the U.S.) is a guitarist and record producer, best known for his work with Tom Petty. , 416/ 867-2936 or see www.centralasiagold.com |
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