Columbia Yukon - Voisey's Bay Update.VANCOUVER, BRITISHCOLUMBIA--(BUSINESS WIRE)--Sept. 23, 1996-- DRILLING BEGINS ON VBE See VESA BIOS Extension. 1 Columbia Yukon Resources Ltd. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CYR CYR Colonia, Uruguay (Airport Code) .) and International CanAlaska Resources Ltd. are pleased to confirm that drilling started on the deep drill hole on the VBE 1 claim block at noon on Saturday, September 21st, due east of the Voisey's Bay Eastern Deeps discovery of Diamond Field's-Inco. The drill site selected is on a gravity anomaly A gravity anomaly is the difference between the observed gravity and a value predicted from a model. Geodesy and geophysics In geodesy and geophysics, the usual model is the surface of a global spheroid (ellipsoid of Hayford or WGS84) by rather simple formulae (2 functions of with a strong magnetic signature and the planned depth of the probe is 1000 metres (3300 ft.). The geological information from the drill hole will assist in determining the potential for extensions of the world class Eastern Deeps type 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. under the claims. A down-the-hole geophysical probe is planned when the drill hole is completed. This will test for conductors for a further 200 metres (660 feet) from the end of the hole. Analysis of the data from this hole will allow further drilling to be optimized. GOLD DISCOVERY ON VBE 2 During the preparation for the drilling program, further field work was carried out on the VBE 2 claim. The 1995 gold prospect was sampled and returned gold values from 1.00gm/t-18.9gms/t(0.03oz/st- 0.55oz/st Au) along an exposed strike length of over 60 metres (200 ft.). Mineralization is hosted by a graphitic homblende-garnet gneiss gneiss (nīs), coarse-grained, imperfectly foliated, or layered, metamorphic rock. Gneiss is characterized by alternating light and dark bands differing in mineral composition and having coarser grains than those of schist. with up to 5 percent iron sulphides and some arsenopyrite arsenopyrite (är'sĭnōpī`rīt, ärsĕn`ō–) or mispickel (mĭs`pĭkəl), silver-white to steel-gray mineral with the metallic luster characteristic of a pyrite. and appears to be syngenetic rather than vein hosted. This style of mineralization has potential for a substantial tonnage and further work is planned. VBE 2 is part of the International CanAlaska ground under option to Columbia Yukon. The area of mineralization is fully permitted for drilling during 1996. ON BEHALF OF THE BOARD OF DIRECTORS Douglas L. Mason, Director -0- The Alberta Stock Exchange nor any other regulatory body has reviewed this news release and therefore do not accept responsibility for the adequacy or accuracy of this release. CONTACT: Columbia Yukon Resources Limited Douglas L. Mason, 604/683-3070 604/683-2308 (FAX) |
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