Columbia Yukon Resources Ltd. Liberty Bell Gold Update.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 9, 1998-- COLUMBIA YUKON (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CYR CYR Colonia, Uruguay (Airport Code) .) Following the announcement confirming the completion of the merger with Liberty Bell Mining Company, the management of Columbia Yukon Resources Ltd. (the "Company") is pleased to present an update on the project status. This gold project, guided by the well qualified technical team from Liberty Bell who have been responsible for developing the tonnages to date, has strategically placed the Company with a large gold resource in Alaska, a political environment that is about as good as it gets for a mining company today. The project is located in the Bonnifield Mining District 100 kms (60 miles) southwest of Fairbanks. The property is close to power, rail and paved pave tr.v. paved, pav·ing, paves 1. To cover with a pavement. 2. To cover uniformly, as if with pavement. 3. To be or compose the pavement of. highway and the coal mining centre of Healey; having this extensive infrastructure in place has a very favourable economic impact on the project - it allows cost effective exploration and minimum additional site costs for the construction required to start production. 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 in 1996 indicated that earlier reverse circulation ("RC") drilling had substantially under valued the project, probably due to a loss of gold in the sampling of wet drill cuttings Drill cuttings typically refer to any solids removed from a wellbore while drilling. The term specifically refers to shale cuttings generated when drilling petroleum wells, and is usually removed by circulating the drilling fluid over shale shakers. . One core drill hole returned more than 4 times the contained gold over a shorter interval than the original RC. The actual grade in the hole was 39.98 g/t (1.155 oz/s.ton) gold over 8 meters (26.5 feet), including 1.52 meters with a grade of 93.1 g/t gold (5 feet with a grade of 2.7 oz/s.ton). This, coupled with the potential for similar 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. in 7 other targets as supported by gold in the 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. soils, drill hole and/or trench trench: see ocean. assays, was the basis for encouraging the Company to take its position. The indication that the contained gold in the deposit may be substantially greater than suggested by earlier data was supported by work carried out in 1997. 4 out of the 6 drill holes twinned with the older RC holes in that program returned higher grades. The Mine Zone Reserve (1989) stood at 180,000 ounces of gold based on block model estimates made by a major mining company using a grade of 0.08 opt gold at a 0.015 opt cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, . Re-calculation of the resource in the copper area by the operator incorporating the 1997 drill results has advanced the drill indicated resource potential to 250,000 ounces of gold identified in two defined areas. A re-calculation of the ore resource in the mine area is planned after additional untested areas are drilled and results to date suggest that a significant increase in contained ounces of gold will occur. This work is part of the ongoing systematic development of the property. The follow-up of geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. , 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 data by drill programs has consistently resulted in increasing the Liberty Bell gold resources. Earlier drilling on the Northwest Copper Zone, approximately 600 meters (2,000 feet) from the Mine Zone, has indicated an all classes resource in the order of 1,670,000 tonnes (2,000,000 s.tons) with a grade of 1.17 g/t (0.05 opt) gold. Core drilling in 1997 confirmed mineralization in brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec rocks of the Lower Tuff sequence, but with recoveries of 50 percent, this work indicated that RC drilling would be the better sampling tool. A Phase II programme, starting with 2,000 feet of core drilling of a permitted 5,000 foot program has been recommended for the testing of two stockwork zones outside the area of known resources. Either of these zones is large enough to have the potential for doubling the known gold resource on the Liberty Bell property. Further, surface work is planned for 5 other targets on the 10,500 acre claim block. The Company has acquired a property with a strong base as a gold asset, substantial potential for expanding the asset, and a technical team capable of developing the property through to production. ON BEHALF OF THE BOARD OF DIRECTORS BENJAMIN AINSWORTH, DIRECTOR Neither the Alberta Stock Exchange nor any 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.
Benjamin Ainsworth, 604/683-3070,
1-888-888-9122 CDN, 1-888-888-9123 USA
604/683-2308 (FAX)
Website: http://www.columbiayukon.com
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