Drilling Underway At Pele's Highland Gold Project.TORONTO -- Pele Mountain Resources (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GEM) ("Pele" or the "Company") announced today that drilling is underway at the Highland Gold Project in northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . Highland is 100-percent owned by Pele Gold Corporation, a wholly-owned subsidiary of the Company. As reported on June 22, recent grab sampling from the Springbank and Talisker gold occurrences on Pele's Porter-Premier property returned high-grade gold assays. Drill plans include six holes at Springbank and two holes at Talisker. This first phase drill program is designed to test the continuation of 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. within the granodiorite-hosted shear shear: see strength of materials. Shear A straining action wherein applied forces produce a sliding or skewing type of deformation. zones below the surface samples recently collected at these locations. This press release has been reviewed and approved by Dr. Edward Walker Edward Walker can refer to more than one person:
Pele Mountain Resources is an exploration play on the abundant mineral wealth of northern Ontario. Pele has acquired and developed a diverse portfolio of diamond, gold, and base metal properties which provide exposure and leverage both to discovery and to the increased global demand for natural resources. Pele is active on six project fronts, including diamond exploration at Festival, Alliance and Attawapiskat River with partners Goldcorp and Trigon Exploration Canada, gold and base metal exploration at Ardeen with partners Maple Minerals Corp and East-West Resource Corporation, and in-house exploration at its Highland Gold and Timmins Nickel properties. Pele stock trades on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "GEM". Some of the statements contained in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company's properties have any known ore body of economic or commercial value. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Pele Mountain Resources Inc. (TSX VENTURE:GEM) |
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