Cumberland Resources: Meadowbank Gold Project: Major Resource Expansion and New Exploration Potential.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Oct. 8, 1997-- CUMBERLAND Cumberland, former county, England Cumberland, former county, N England. In 1974, Cumberland became part of the nonmetropolitan county of Cumbria. Cumberland, river, United States Cumberland, RES. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CBD (Component Based Development) Building applications with components (objects). See component software. CBD - component based development .) CUMBERLAND RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . reports that summer drilling at the Company's 100 percent owned Meadowbank Meadowbank can refer to -
intersection a site at which one structure crosses another. of 9.70 g/T over 19.9 m from drilling at the Bay Zone and a near surface intersection of 6.53 g/T over 17.5 m from drilling at Third Portage Portage (1, 2 pôr`təj; 3 pôr`tĭj). 1 Town (1990 pop. 29,060), Porter co., NW Ind., a suburb of Gary, on Lake Michigan; inc. 1959. . Aggressive drilling in 1997, totalling 13,600 m completed in 65 holes, will advance gold resources well beyond the 1.1 million ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. (1.39 million oz. uncut) resource estimated in 1996. THIRD PORTAGE YIELDS MAJOR EXPANSION Drilling throughout the summer has returned exceptional, near- surface, gold intersections in both the upper and lower zones of the Third Portage deposit and will result in large additions to the 710,000 oz. gold resource independently estimated in 1996. New intersections in the Upper Zone continue to build the near surface resource potential of the deposit. For example: -0-
1997 Third Portage - UPPER ZONE INTERSECTIONS
HOLE GRADE INTERVAL oz/t over Vertical
(g/T) (m) Feet Depth (m)
New Holes
97-212 2.58 10.7 0.08/35.1 12
and 9.78 4.3 0.29/14.8 36
97-215 5.02 2.0 0.15/6.6 38
Previous 1997 Holes
97-185 3.56 3.0 0.10/9.8 40
97-189 4.37 4.5 0.13/14.8 8
97-191 4.33 3.2 0.12/10.5 25
97-193 32.23 1.33 0.94/4.4 30
97-195 8.14 2.78 0.24/9.1 10
In some cases, for example holes 97-212 and 193, grades are much higher than anticipated. The Company believes that these new intersections have excellent potential to contribute near surface resources and lower the current waste to ore ratio in the proposed open pit. The following 23 lower zone intersections (except Holes 97-204 and 97-205) are from within the southwestern south·west n. 1. Abbr. SW The direction or point on the mariner's compass halfway between due south and due west, or 135° west of due north. 2. An area or region lying in the southwest. 3. extension of the deposit which displays excellent continuity over a large area measuring 450 m in length and up to 150 m in the westward direction.
1997 Third Portage -LOWER ZONE INTERSECTIONS:
HOLE GRADE INTERVAL oz/t over Vertical
(g/T) (m) Feet Depth (m)
New Holes
97-205 2.65 8.6 0.08/28.2 7
and 6.52 17.5 0.19/57.4 30
97-207 4.8 3.5 0.14/11.5 84
and 4.9 2.9 0.14/9.5 80
97-209 15.5 5.5 0.45/18.0 70
97-210 6.41 8.3 0.19/27.2 62
97-212 4.31 2.3 0.13/7.5 86
and 5.43 3.2 0.16/10.5 94
97-215 6.87 8.0 0.20/26.2 110
includes 18.03 2.5 0.53/8.2
97-213 9.31 9.2 0.27/30.2 100
Previous 1997 Holes
97-204 11.33 8.6 0.33/28.2 10
97-202 16.17 3.8 0.47/12.5 100
97-198 4.32 4.0 0.13/13.1 120
97-197 9.19 9.28 0.27/30.5 108
97-195 8.14 2.78 0.24/9.12 104
97-194 5.81 8.2 0.17/26.9 104
97-193 5.53 3.0 0.16/9.8 98
97-200 4.71 3.8 0.14/12.5 110
97-189 8.38 7.2 0.24/23.6 120
97-187 10.81 2.00 0.32/6.6 110
97-185 8.33 7.91 0.24/26.0 125
97-168 12.13 3.0 0.35/9.81 104
97-167 7.20 7.00 0.21/23.0 116
Holes 97-204 and 97-205 yielded wide, high grade, intersections at or very near surface and will result in important resource gains in the eastern portion of the deposit. The remaining 21 intersections will comprise the new southwestern extension of the deposit. All intersections are within 125 m of surface and will allow for maximum optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. of the open pittable resources outlined in 1996. Both the upper and lower zones of the deposit remain open for future expansion - both to the west and south. BAY ZONE EXPLORATION Exploration drilling of the Bay Zone, located 200 m west of Third Portage, also continues to return outstanding grades and widths at shallow depths:
HOLE GRADE INTERVAL oz/t over
ZONE (g/T) (m) Feet
New Holes
97-214 5.46 5.7 0.16/18.7
Upper 97-208 8.0 3.0 0.23/9.84
Lower 97-206 6.79 2.0 0.20/6.6
Upper and 9.70 19.9 0.29/65.3
Lower includes 37.37 4.3 1.10/14.1
Previous 1997 Holes
97-203 10.0 8.8 0.29/28.9
Upper 97-199 3.10 8.0 0.09/26.2
Upper 97-170 9.28 8.0 0.27/26.2
Upper 97-179 30.62 6.0 0.90/19.7
Upper
Hole 97-206 has returned one of the best intersections on the project to date. The Company believes this intersection represents the extension of the same lower 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. horizon present at the Third Portage Deposit. In the future, drilling at the Bay Zone has very good potential for intersections both in the upper and lower mineralized horizons. Both the upper and lower zones of the Bay Zone remain open for future expansion. NEW EXPLORATION POTENTIAL In addition to large resource increases summer drilling has also identified extensive new areas for 1998 exploration. Exploration hole 97-219, drilled in a new area 325 m west of the Third Portage deposit, has yielded 3.3 g/T over 5.7 m (0.10 oz/t over 18.7 feet) at a vertical depth of 100 m indicating the excellent gold potential remaining to the west of Third Portage deposit. Drilling (9 holes) in a new area of the North Portage zone, located as far as 1.5 km north of Third Portage, has also intersected important near surface 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. (up to 4.5 g/t over 5.08 m in hole 97-186). In the spring of 1997 the Company also announced new resource potential from drilling up to 200 metres below the Goose Island Goose Island may refer to: Places in Australia
The Company is extremely pleased with the results of the 1997 exploration program and is confident that the increased resources will result in improved economics of the project. The Company is also confident that the new exploration potential outlined will lead to a multi-million ounce gold resource at Meadowbank. New resource calculations are presently underway as well as advanced metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. and engineering studies. Cumberland Resources is a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. mineral exploration company with three outstanding gold projects, Meadowbank (100 percent), Meliadine West (22 percent) and Meliadine East (50 percent) located in the Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. of Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of .
Shares Issued: 22,575,001
Fully Diluted: 25,042,501
Working Capital: $10.0 million
Emerging Canadian Gold Projects
Meadowbank (100 percent and Operator)
- 1996 Resource of 1.1 million oz. (cut) - 65 drill
holes (13,600 m) in 1997 confirm major expansion potential.
Meliadine East (50 percent and Operator)
- 400,000 oz. resource
- 3,000m drill program completed. Results pending.
Meliadine West (20 percent carried to production)
- 1996 resource of greater than 1 million oz. -
outstanding results continue to rapidly expand resources
Kerry Kerry, county (1991 pop. 121,894), 1,815 sq mi (4,701 sq km), SW Republic of Ireland. The county town is Tralee. Kerry consists of a series of mountainous peninsulas that extend into the Atlantic. M. Curtis, B.Sc., P.Geo., Senior Vice President Note: Sketches and drill hole collar locations and intervals are available on request on Cumberland's website at http://www.goldmin.com. CONTACT: Cumberland Resources Ltd. Mr. Glen Dickson Dickson may refer to several placenames: Australia
or Mr. Kerry Curtis, 604/608-2557 604/608-2559 (FAX) |
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