Drilling On Timmins Gold Project Resumes With $2 Million Budget.TORONTO--(BUSINESS WIRE)--Jan. 24, 1997--Holmer Gold (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). HGM HGM Highly Gifted Magnet HGM Home Glucose Monitoring HGM Hemlo Gold Mines HGM Height Gain Model .) Holmer Gold Mines Limited is pleased to announce that the second phase of an aggressive 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 program has begun on its 100 percent owned Timmins Timmins, town (1991 pop. 47,461), central Ont., Canada, on the Mattagami River. Timmins is the commercial center of the rich Porcupine gold-mining district, where gold was first discovered in 1909. Silver, copper, lead, and zinc are also mined. Gold Project. This drilling program (20,000 feet) will follow-up follow-up, n the process of monitoring the progress of a patient after a period of active treatment. follow-up subsequent. follow-up plan on the new gold discovery made in late 1996.
Some of the previously announced results include:
Main Zone 13.12 ft. of 0.83 oz. gold/ton;
247.70 ft. of 0.06 oz. gold/ton.
Hanging Wall Zone 4.92 ft. of 0.84 oz. gold/ton;
47.57 ft. of 0.13 oz. gold/ton.
Foot Wall Zone 23.00 ft. of 0.20 oz. gold/ton;
95.14 ft. of 0.11 oz. gold/ton.
These results are considered to be very significant because:
1) gold mineralization on the property occurs as multiple,
steeply-dipping parallel zones which are contained within a
wide shear zone having widths of up to 330 feet;
2) the shear zone is gold-bearing and contains high-grade gold
mineralization within tourmaline-quartz-arsenopyrite veins;
3) the newly-discovered Foot Wall Zone has widths of up to 95 ft
and consistent gold grades;
4) gold mineralization on the property has depth continuity,
outcrops at surface and has been traced by drilling in one
section down to a depth of 1420 ft;
5) gold grades continue to increase both to the west and at
depth;
6) the Hanging Wall and Foot Wall Zones, tested to date by three
drill holes at the 1200-1400 ft level, returned economic gold
intersections. These zones, which appear to be parallel to the
main zone, are open from the 1200 ft level to surface and at
depth.
7) a favourable geologic structure has been outlined by IP
geophysical surveys over a strike distance of 7,200 ft. Only a
portion of a 1,000 ft section has been drill tested to date.
The second phase diamond drilling will test 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. encountered in the Main, Hanging Wall and Foot Wall Zones for continuity both along strike and at depth. In addition, a number of the new 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. anomalies
Anomalies is Cephalic Carnage's 4th full-length album. It was released on Relapse Records. The group expanded their sound even more than their previous album, Lucid Interval, and gained more popularity. outlined recently will also be tested. Holmer recently completed a $6 million financing of which $2 million has been allocated for the Timmins Gold Project. -0- Note To Editors: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Holmer Gold Mines Limited Jim Hitchie, 800/246-9938 email: jhitchie@direct.ca http://www.info-mine.com/holmergold/ (Web Page) or Holmer Gold Mines Limited (Corporate Office) Dr. K. Sethu Raman, 416/360-7773 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion