Columbia Yukon Resource Progress Report Buffalo Head Mustang Project.VANCOUVER, B.C.--(BUSINESS WIRE)--May 13, 1998--Columbia Yukon Resou(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CYR CYR Colonia, Uruguay (Airport Code) .) Columbia Yukon Resources Ltd. (the "Company") as operator, along with its joint venture partner International Butec Ind. Ltd., reports the completion of the drilling program on its Buffalo Head Mustang mustang [Sp. mesteño=a stray], small feral horse of the W United States. Mustangs are descended from escaped Native American horses, which in turn were descended from horses of North African blood, brought to the New World by the Spanish c.1500. Property in northwestern Alberta. The company resumed drilling last week after shutting down in April for the Spring thaw. An airborne magnetic survey of the property completed last fall had resulted in 8 targets grouped into three main clusters picked for follow up drilling. These anomalies were interpreted to lie at depths ranging from 5 to 52 metres below surface. The single target drilled in April was found to be explained by magnetite-bearing sands in overburden o·ver·bur·den tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens 1. To burden with too much weight; overload. 2. To subject to an excessive burden or strain; overtax. n. 1. . A total of 112 metres were drilled on two holes in May. One target in each of the untested clusters was tested and in each case the source of the magnetic anomaly Magnetic Anomaly may refer to:
Year Size Name Area Notes 1825 3,000,000 acres (12,000 km²) Miramichi Fire New Brunswick Killed 160 people. within the area, the Company was unable to test drill target PR33, however it is expected that magnetic sands have caused this anomaly as well. In light of the results it was decided not to drill any other anomalies on the property as they are of similar character. Management will review all technical and drill data to determine the nature of any further exploration on the Mustang Property. -0- ON BEHALF OF THE BOARD OF DIRECTORS MICHAEL S. GUSTAVSON, MANAGING DIRECTOR -0- Neither 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 Ltd. Michael S. Gustavson, 604/ 683-3070 604/683-2308 (FAX) Toll Free: 1-888-888-9122 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. , 1-888-888-9123 USA Website: http://www.columbiayukon.com |
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