Cumberland - Second Hole Complete on Grandola Project - Portugal.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 6, 1996--Redfern Resources (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : RFR RFR Radio Frequency Radiation RFR Request For Resources RFR Right of First Refusal RFR Radio Free Roscoe (TV show) RFR Risk-Free Rate (investing) RFR Rio Frio, Costa Rica .) Int'l Vestor (VSE See DOS/VSE. VSE - Virtual Storage Extended : IVS.) Cumberland Resources (TSE: CBD (Component Based Development) Building applications with components (objects). See component software. CBD - component based development .) Auspex Minerals (VSE: APJ.) The second hole of the program, GR6002, has been completed at a depth of 618 metres. This hole, collared 200 metres to the southwest of hole GR6001, was drilled primarily to test the stratigraphy and structure of the basement rocks southwest of the gravity anomaly. Both holes intersected shales and siltstones of the Paraiso Siliceous siliceous relating to or made of silica or a silicate. Formation, which lies above several of the large deposits in the Iberian Pyrite Belt, however neither hole penetrated this unit to reach the favourable massive sulphide horizon which is expected to lie below it. Trace amounts of pyrite, chalcopyrite and tetrahedrite tet·ra·he·drite n. A grayish-black mineral, essentially (CuFe)12Sb4S13, often containing other elements, and used as an ore of copper. were noted within the sedimentary sequence in both holes. Information gained from the initial drilling virtually rules out the possibility that the gravity anomaly is due to an uplifted block of basement rocks. Combined with the presence of the Paraiso Siliceous Formation, this indicates that the most likely source for the anomaly is a large massive sulphide body in the basement rock. A third hole has been started 700 metres northwest of GR6001, directly over the axis of the the diameter of the sphere which is perpendicular to the plane of the circle. See also: Axis gravity anomaly. This hole has been pre-collared with a rotary drill to a depth of 230 metres to improve drilling production. The large Grandola gravity anomaly has not been explained and the Joint Venture remains confident that continued persistence will result in a significant discovery. The Grandola Joint Venture is held by Auspex Minerals Ltd. 50 percent, Redfern Resources Ltd. 16.68 percent, Cumberland Resources Ltd. 16.66 percent and International Vestor Resources Ltd. 16.66 percent. REDFERN RESOURCES LTD. " Terry Chandler", President INTERNATIONAL VESTOR RESOURCES LTD. "John Greig", Director CUMBERLAND RESOURCES LTD. "Glen Dickson", President AUSPEX MINERALS LTD. "Ron Ewing", Director -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. CONTACT: Redfern Resources Ltd. Terry Chandler, 604/ 669-4775 or International Vestor Resources Ltd. John Greig, 604/ 669-4775 or Cumberland Resources Ltd. Glen Dickson, 604/ 608-2557 or Auspex Minerals Ltd. Ron Ewing, 604/ 681-1337 |
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