Coronation Minerals Inc./Guyana Goldfields Inc.: New Copper-Silver Zone Discovered/More Drilling Results Released.Business Editors NUNAVUT, Canada--(BUSINESS WIRE)--Dec. 18, 2003 Coronation Minerals Inc. (MSA-TSX Venture) and Guyana Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Inc. (YGI-TSX Venture) are pleased to announce that prospecting on its Coppermine River Coppermine River Stream, Northwest Territories and Nunavut territory, Canada. Rising in the Barren Grounds, a subarctic prairie region, it flows north for 525 mi (845 km) into Coronation Gulf, an arm of the Arctic Ocean, near the Inuit settlement of Kugluktuk (formerly project ground returned high grade copper-silver samples in the area of the Strike Lake Fault (SLF SLF Super Low Frequency (30-300 Hz; 10,000-1,000 km) SLF Self SLF Statens Landbruksforvaltning (Norwegian Agricultural Authority) SLF Sveriges Läkarförbund SLF Saalfeld ). The first grab sample Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole graded 33.8% copper and 17.2g tonne of silver was collected from a splay on the north side, running perpendicular to the SLF. This is a result of movement of the SLF which has been the conduit for the 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. fluids. Calcite calcite (kăl`sīt), very widely distributed mineral, commonly white or colorless, but appearing in a great variety of colors owing to impurities. and quartz with blebs of chalcocite chalcocite Sulfide mineral, Cu2S, that may be an important ore of copper. It belongs to a group of sulfide minerals formed at relatively low temperatures. Chalcocite alters to native copper and other copper minerals. and lesser amounts of bornite bornite Common copper-ore mineral, copper and iron sulfide (Cu5FeS4). Typical occurrences are found in Mount Lyell, Tasmania; Chile; Peru; and Butte, Mont. Bornite may form isometric crystals but occurs most commonly as irregular masses. infill the splay. The second sample, altered basalts surrounding the splay, graded 2.24% copper and 3.2g tonne of silver. The Companies are very pleased with this new discovery and will extensively explore it during the 2004 field season. Results from the third (2003-47-3) diamond drill hole, on the Dot 47 Zone, of a recently completed 7-hole program, totaling 7186 feet are tabled below. This part of the program was carried out to confirm the extension of the "Dot 47 Copper Zone" which was discovered and partially 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. in 1966-1969. The best hole of the 1966-1969 program returned 260.2 feet grading 3.92 % copper. Both of these targets are located within the 75,747.69 acre Coppermine River Project area.
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Hole No. From To Length Grade
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Meters Meters Meters Feet Copper Silver
% g/tonne
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2003-47-3 65.86 163.91 98.05 321.69 0.93 2.97
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Including 68.00 98.00 30.00 98.43 1.34 5.12
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137.50 155.00 17.50 57.41 2.00 4.87
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Previously Drilled Hole Results:
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Hole No. From To Length Grade
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Meters Meters Meters Feet Copper Silver
% g/tonne
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2003-47-1 47.00 103.39 56.39 185.01 1.48 3.84
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Including 59.73 75.32 15.59 51.15 3.83 10.01
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2003-47-2 26.46 99.25 72.79 238.81 1.63 3.80
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Including 84.38 92.11 7.73 25.36 5.27 14.01
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The objective of the holes was to test the down dip extension of the known 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. and confirm the continuation of the mineralized structure to depth. The hole drilled through uniform and amygdaloidal a·myg·da·loid n. A volcanic rock containing many amygdules. adj. also a·myg·da·loi·dal 1. Shaped like an almond. 2. Anatomy Of or relating to the amygdala. 3. basalts in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. intersecting the mineralized zone consisting of shattered shat·ter v. shat·tered, shat·ter·ing, shat·ters v.tr. 1. To cause to break or burst suddenly into pieces, as with a violent blow. 2. a. , hematized and brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec (calcite and quartz fillings) basalts. The main copper minerals encountered were chalcocite with lesser amounts of bornite and chalcopyrite chalcopyrite (kăl'kəpī`rīt, kăl`kōpī'rīt) or copper pyrites (pīrī`tēz, pə–), brass-yellow mineral, sometimes with an iridescent tarnish. . Anomalous palladium values were encountered throughout the hole. Hole 2003-47-2 was collared approximately 207 feet south-west of hole 2003-47-1 and 2003-47-3 is located approximately 310 feet southwest of the former. All three holes were drilled with an azimuth azimuth (ăz`əməth), in astronomy, one coordinate in the altazimuth coordinate system. It is the angular distance of a body measured westward along the celestial horizon from the observer's south point. of 150 degrees. Company geologists are pleased with these results obtained to date as they confirm the extension to depth of the "Dot 47 Zone". The 2003-47-GB series of drill holes were completed to test a geophysical anomaly outlined near the Dot 47 Zone. Three holes were drilled on the best response. Hole 2003-47-GB-1 was collared approximately 566 meters (1856 feet) northeast of hole 2003-47-1. Hole 2003-47-BG-2 was collared 296 meters (973 feet) southwest of 2003-47-GB-1 and 2003-47-GB-3 was collared 164 meters (538 feet) meters northeast of 2003-47-GB-1. This mineralized structure is open in both directions beyond the tested 460 meters (1500 feet). The geology of these holes is the same as the Dot 47 Zone drilling and fits in well with the historical interpretation of the Teshierpi fault zone.
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Hole No. From To Length Grade
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Meters Meters Meters Feet Copper % Silver
g/tonne
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2003-47-GB-1 103.14 123.97 20.83 68.34 0.39 4.12
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Including 103.14 106.47 3.33 10.93 1.18 11.47
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2003-47-GB-2 81.99 92.00 10.01 32.84 1.05 5.42
224.95 281.00 56.05 183.89 0.40 1.70
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Including 224.95 235.84 10.89 35.73 1.12 4.38
274.56 275.68 1.12 3.67 1.31 6.89
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2003-47-GB-3 124.92 160.38 35.46 116.34 0.17 0.95
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The seventh hole drilled in the program was to test a large gravity
anomaly (2 by 10 kilometer), discovered by the Company in 2001. Only
one of three planned holes was completed in this year's drilling
program. The hole was drilled near the southern edge of the anomaly
at - 90 degree dip. At approximately 588 meters (1929 feet) an
altered and brecciaed section with 3% disseminated sulphides was
drilled through (see table below). The companies' technical personnel
are currently reviewing all of the data to assist in target selection
for next year's program.
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Hole No. From To Length Grade
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Meters Meters Meters Feet Copper Palladium Silver
ppm ppm g/tonne
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2003-GA-1 517.50 521.60 4.10 13.45 2230.00 0.70
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588.47 617.50 29.03 95.24 904.00 0.042 0.43
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The drilling program was carried out under the direction of Mr. Rory Calhoun Rory Calhoun (born Francis Timothy McCown Durgin on August 8, 1922 – April 28, 1999) was born in Los Angeles, California. As an actor he starred in more than eighty motion pictures and a large number of television episodes. , a qualified person within the meaning of National Instrument 43-101. Mr. Calhoun has reviewed the exploration results contained in this news release. Core is split, with half sent to ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex (Vancouver) for analysis. About Coronation Minerals Inc. Coronation Minerals Inc. is a Canadian based resource Company whose focus is to explore for and develop mineral deposits throughout the Coronation Gulf Coronation Gulf () lies between Victoria Island and mainland Nunavut in Canada. To the northwest it connects with Dolphin and Union Strait and thence the Arctic Ocean; to the northeast it connects with Dease Strait and thence Queen Maud Region, Nunavut, Canada. About Guyana Goldfields Inc. Guyana Goldfields Inc is a Canadian based exploration Company with advanced mineral assets in various stages of development located in Guyana, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the Coronation Gulf, Nunavut, Canada. The Company offers investors leverage to gold through its Peters Mine and Aurora properties in Guyana and exposure to nickel-copper-platinum group metal projects by way of its properties in the Coronation Gulf region, Nunavut, Canada. The TSX/TSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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