Colony Pacific Explorations - Appointments.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 18, 1997-- Colony Pacific Explorations Ltd.(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CYX) is pleased to announce that Robert A. Horn and Barry Smee have joined the Board of Directors and that Maryse Belanger has been appointed Operations Manager See datacenter manager. . Mr. Horn, a geologist, is Vice President Exploration, Inco Limited (N-TSE, NYSE NYSE See: New York Stock Exchange ). He has had extensive exploration experience during his 30 year exploration and mining career working in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Africa, Australia, Europe, Canada and the USA. Prior to joining Inco in 1995, he held the positions of Vice President Exploration with the Mining Division of BP Canada Inc. until the unit was sold and Vice President Exploration with FMC See fixed mobile convergence. Gold Company in the USA. Inco operates in 21 countries and is the world's leading producer of nickel and an important producer of copper, precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. and cobalt. Dr. Smee is a well-known geochemist. He is President of Smee and Associates Consulting Ltd., a Vancouver based geochemical and geological consulting firm providing expertise to mineral exploration and environmental organizations working in all parts of the world. He has over 26 years of international experience with mineral deposit types which include porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. copper, skarn skarn In geology, a metamorphic zone developed in the contact area around igneous rock intrusions when carbonate sedimentary rocks are invaded by and replaced with chemical elements that originate from the igneous rock mass nearby. precious and base metal and epithermal gold. His experience also includes generating and implementing exploration programs which have resulted in the discovery of several precious metal and volcanic hosted massive sulphide deposits. Ms. Belanger is a geological engineer and geostatistician. During her 15 year career she has become recognized as an expert in ore reserve estimation and mine optimization. She brings to Colony comprehensive experience in project evaluation at all stages of development. She also has significant experience in management of overseas exploration projects. Colony and Inco have entered into a joint venture to carry out gold and gold-copper exploration on the island of Sumatra in Indonesia. Colony has the right to earn an interest of up to 100 percent in three properties held by Inco in Sumatra, subject to a 60 percent buy-back right in favor of Inco. In addition, the Colony-Inco joint venture has the right to earn an interest of up to 60 percent in two properties in the Aceh region of Sumatra held by Highlands Gold Limited of Australia (HLG-AU). Two discoveries have been made, Beutong and Miwah, and 17 additional 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. areas have been identified on these properties. Beutong and Miwah are both covered by a signed fifth generation Contract of Work with the Government of Indonesia. The Beutong copper-gold porphyry discovery was made in August 1996 following a regional stream sediment geochemical survey. The discovery hole intersected 1.06 percent copper over its entire 120 metre length, bottoming in ore. Follow up drilling has now expanded the discovery to an area of 1200 metres east-west by 800 metres north-south and drilling is ongoing. At Miwah, surface sampling, geochemistry, geophysics and a preliminary 13 hole, 3144 metre drill program have outlined an extensive area of gold-copper 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. . Results from this drill program include 1.4 g/t gold over 71 metres and 1.0 g/t gold over 58 metres. Enargite En`ar´gite n. 1. (Min.) An iron-black mineral of metallic luster, occurring in small orthorhombic crystals, also massive. It contains sulphur, arsenic, copper, and often silver. boulders grading 10 percent to 20 percent copper, discovered adjacent to the prospect area, suggest that the Miwah gold prospect may be related to a nearby porphyry gold-copper system. Follow up drilling is planned at Miwah as well as continued drilling at Beutong. Colony recently completed a financing through Midland Walwyn Capital Inc., Newcrest Capital and Pacific International Securities raising $8.6 million. Pierre Lebel, President CONTACT: Colony Pacific Explorations Ltd. Pierre Lebel, 604/ 689-5797 604/ 687-4030 (FAX) or Colony Pacific Explorations Ltd. Maryse Belanger, 604/ 689-5797 604/ 687-4030 (FAX) or Colony Pacific Explorations Ltd. Charlene Parisotto, 604/ 689-5797 604/ 687-4030 (FAX) |
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