Colony Pacific Sixth Generation Contract of Work Approved - Drilling Continues at Beutong.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--April 14, 1997-- Colony Pacific Explo (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). CYX.) Colony Pacific Explorations Ltd. (CYX-T) is pleased to report that the Government of Indonesia has approved the Tripa 6th generation Contract of Work which covers the southern half of the Aceh property. The Contract of Work is expected to be formally signed in the next few weeks. The northern half of this property is held under the signed 5th generation Woyla River Contract of Work. EXPLORATION UPDATE Deep drilling is underway at the Beutong prospect where a 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 system was discovered in the fall of 1996. The discovery hole, announced on December 4, 1996, intersected 120 metres grading 1.06 percent copper and bottomed in 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. . Subsequent step out drilling carried out during the last quarter expanded 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. area which is partially covered by a leached cap of weathered porphyry material. Drilling with a large capacity rig will be complemented by ground based geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. work to further define and expand the mineralized system which is centered on a 10 km by 2 km stream sediment anomaly. Mapping and detailed follow-up stream sediment sampling are being carried out on some of the 17 other prospects on the Aceh property, identified during a property wide preliminary evaluation. Work will begin at Seunagan, a large porphyry copper target, and at Isep and Pacarra, which both constitute large porphyry copper-gold targets. Preliminary evaluation of the Pacarra area had prompted the acquisition of the southern portion of the Aceh property (the Tripa property). At Seunagan, a stream sediment program has identified a copper-gold anomalous area covering 156 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
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. and vein type. Assay results include 17.7 percent Cu for skarn type material and 3.5 percent Cu from vein type mineralization. The Isep prospect is located along the same trend as Seunagan and the mineralization there appears to be associated with several diorite diorite Medium- to coarse-grained igneous rock that commonly is composed of about two-thirds plagioclase feldspar and one-third dark-coloured minerals, such as hornblende or biotite. intrusions. One float chip sample yielded 4.94 g/t Au, 3.64 percent Pb and 16.5 percent Zn. At Pacarra pan concentrate samples returned values as high as 9.7 g/t gold and massive sulphide float assayed up to 17.7 percent Cu. Other anomalies include Keladi where a rock chip sample returned 3.35 percent Cu, 14.2 percent Pb and 15.6 percent Zn. At Karang, Gedang and Ranau, field crews including eight geologists have been active for the past month following up on recently completed airborne geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. and stream sediment geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of compilation work. Exploration expenditures on the Sumatra properties will exceed US$ 7 million in 1997. QUALITY CONTROL During the month of March, Dr. Barry W. Smee of Smee & Associates Consulting Ltd. carried out a detailed technical review of the quality control procedures for the Colony-Inco strategic alliance projects on Sumatra. Dr. Smee reported to Colony that normal quality control procedures, which include blind duplicates and check assays, are followed by the project operators. All assay work is performed by certified assayers, Bondar Clegg, in Jakarta. A detailed review of site procedures revealed that high standards are maintained in sample collection, preparation and assaying. Colony is sponsoring a seminar on assaying and quality control programs by Dr. Barry W. Smee, on Thursday, April 17th at 2:00 pm in the Fletcher Challenger Room at the Harbour Centre, 555 West Hastings Street, Vancouver. Anyone wishing to attend may contact the Company to register. Space is limited. Dr. Smee is a highly regarded geochemist. His firm provides analytical quality control expertise to mineral exploration companies in all parts of the world. His client list includes most of the major mining companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . 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) REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-752-9600 or 800-221-2462; Boston 617-236-4266 or |
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