Columbia Gold Mines - Where There's Smoke There's Fyre.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 14, 1996--COLUMBIA GOLD MINES (VcSE:COB) Encouraging preliminary assays and discovery of a second 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. horizon are highlights of the first drilling report on Columbia Gold's volcanogenic vol·ca·no·gen·ic adj. Of volcanic origin. massive sulphide sulphide: see sulfide. "Fyre Lake" project in southeastern Yukon. Assay results have now been received for 15 of 41 holes drilled to date at Fyre Lake, located in the Finlayson Lake district, 30 kilometres southwest of the Atna-Westmin Wolverine wolverine or glutton, largest member of the weasel family, Gulo gulo, found in the northern parts of North America and Eurasia, usually in high mountains near the timberline or in tundra. Lake deposit and 30 kilometres south of the Cominco Kutz de Kayah deposit. The 15 diamond drilled holes reported today, 10 of which intersected 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. , represent drilling of short holes over a 200-metre length of the original discovery showing area. The results confirm thickness and grade of mineralization as previously established by prior work in the 1960's. An additional 26 holes have been drilled along strike to the south, thereby extending the Kona massive sulphide mineralization over a length of 1000 metres. Drilling continues with the Kona zone remaining "open" both to the north and south. Assays for the next 26 holes should be available within three weeks. More recent drilling has led to the discovery of a second mineralized horizon "Upper Zone", overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. the Kona "Lower Zone" as well as a general thickening thick·en·ing n. 1. The act or process of making or becoming thick. 2. Material used to thicken: stir in a thickening of flour and water. 3. A thickened part. of both mineralized horizons as they trend in a southerly direction. A second diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral rig is being added to the Fyre Lake Project this week and will commence testing northern extensions of the Kona. Linecutting, 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. and geochemical surveys are still in progress, it being anticipated that 100 grid kilometres of survey work will be completed by mid-September along most of the 13.5 kilometres of favourable geologic setting on the property. It is currently proposed that 10,000 metres of diamond drilling will be completed this season with targets additional to the Kona zone also scheduled for drill testing. A summary follows of drill results from 10 holes drilled within the northern portion of the lower horizon of the Kona Zone. Five holes drilled beyond the boundaries of mineralization are not reported. -0- KONA ZONE - DRILL HOLE SUMMARY
ASSAY
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HOLE INTERCEPT INTERVAL Copper Gold Zinc
(m) (m) percent g/T percent
----- ------------ -------- ------- ----- -------
96-1 12.3 - 16.4 4.1 1.14 0.48 0.69
96-2 36.3 - 43.0 6.7 1.40 0.61 0.77
96-3 22.3 - 28.8 6.5 1.02 0.79 1.09
96-4 4.6 - 12.2 7.6 0.95 0.47 0.31
96-5 4.7 - 9.0 4.3 1.29 0.87 1.06
96-6 7.2 - 10.0 2.8 1.40 0.85 0.64
96-7 7.8 - 10.7 2.9 1.28 1.11 1.08
96-13 23.1 - 35.4 12.3 0.90 0.80 0.84
96-14 26.5 - 33.0 6.5 1.44 0.88 2.45
96-15 33.8 - 43.8 10.0 0.97 0.80 1.67
ON BEHALF OF THE BOARD OF DIRECTORS John S. Brock Columbia Gold Mines Ltd. Symbol - COB (VSE senior board) Shares Outstanding 12.9 million Fully Diluted 19.1 million Trading Range (July-August) CDN$0.80 - $1.22 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). has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release. CONTACT: Columbia Gold Mines Ltd. Brent Bagshaw, 604/687-4951 604/687-4991 (Fax) |
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