Continental Caretech Announces Drilling Results.TORONTO--(BUSINESS WIRE)--March 21, 1996--Continental Caretech Corporation (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :CNCC CNCC Conseil National des Centres Commerciaux CNCC Consciousness in a Natural and Cultural Context (EUROCORES programme) CNCC Council of Northern Caving Clubs CNCC Customer Network Control Center ) Corporation is pleased to announce results for an additional 11,624 feet of 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 recently completed on its Thunder Lake Thunder Lake can refer to:
Continental Caretech and Teck Corporation have expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. an aggregate of $3.6M on exploration of the properties, which programs have included 108,000 feet of diamond drilling. The Thunder Lake West and East properties cover a total area in excess of 7,000 acres. In previous programs the joint venture partners delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. two 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. shoots which when tested returned high grade values. Four of the better intersections previously reported in shoot No.1 graded as follows: -0-
DRILL HOLE TRUE THICKNESS GRADE/GOLD
(ft) OZ/TON
TL-46 12.1 1.99 TL-47 15.1 0.57 TL-48 9.6 0.96 TL-49 21.8 0.62 -0- Subsequent drilling has proven the zone continues to depth with a significant increase in strike length as indicated by the following results. THUNDER LAKE WEST This project is a joint venture between Continental Caretech Corporation and Teck Corporation. These latest five holes tested the gold bearing alteration corridor to the west of the more intensely drilled No. 1 Shoot area. High grade results, some of which have been noted above, have previously been reported from this area. - The first of the latest five holes, TL-128, intersected the target zone approximately 1,475 feet west of the No. 1 Shoot at a vertical depth of 1,280 feet and 620 feet for the nearest hole drilled in a previous program. - Hole 129 was drilled 650 feet west of TL-128 and intersected the target zone at a vertical depth of 1,460 feet. - Hole TL-130 was drilled 655 feet west of TL-129 and intersected the main zone at a similar elevation to TL-129 - Hole TL-131 intersected the zone 285 feet east of TL-129 at a vertical depth of 1,410 feet. - Hole TL-132 was drilled to test the zone updip of TL-129 and intersected the zone at vertical depth of 920 feet. Significant assay results are as follows: -0-
DRILL HOLE TRUE THICKNESS GRADE/GOLD
(ft) OZ/TON
TL-128 5.9 0.33
TL-129 34.8 0.13
including 9.5 0.35
and 1.9 0.42
TL-130 anomalous
TL-131 6.9 0.07
TL-132 3.9 0.10
In a previous news release dated January 9, 1996 the Company reported the following results:
DRILL HOLE TRUE THICKNESS GRADE/GOLD
(ft) OZ/TON
TL-125 4.8 3.68
TL-126 6.5 0.32
TL-127 3.2 0.08
AND 6.5 0.05
-0- These previously reported holes were widely spaced and located to the east of the No. 1 shoot extending the strike length, at a vertical depth of 1,400 feet, to the east by 1,634 feet. When combined with the most recent widely spaced holes to the west of the No.1 shoot as detailed under "Thunder Lake West" of this current release, the total strike length has been extended and now exceeds 3,900 feet. THUNDER LAKE EAST The Thunder Lake East property is contiguous to the Thunder Lake West property, adjoining it to the east. Continental Caretech has the right to earn a 50 percent interest in the property from Teck Corporation. Seven drill holes, TLE-11 to TLE-17, tested a variety of geophysical targets during the winter program. Significant results were obtained in hole TLE-15 which intersected 0.34 oz/ton Au over a core length of 13.8 feet. The gold 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. is associated with a zone of disseminated sulphides in altered sediments and mafic maf·ic adj. Containing or relating to a group of dark-colored minerals, composed chiefly of magnesium and iron, that occur in igneous rocks. volcanics. Hole TLE-17 which was drilled 490 feet from, and parallel to TLE-15, had similar geology, sulphide mineralization, and a broad zone of anomalous gold mineralization with values up to 0.04 oz/ton Au. The area being drilled on Thunder Lake East is approximately 9,500 feet from the Thunder Lake West gold zone. THE FOREGOING RELEASE HAS BEEN APPROVED BY TECK EXPLORATION LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . CONTACT: Continental Caretech Corporation Peter D. Walker, 416/482-8606 or 416/488-1676 (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 212-575-8822 or 800-221-2462; Boston 617-236-4266 or |
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