Drilling extends SW zone at Brisas; Drill results at El Remo.SPOKANE Spokane, city, United States Spokane (spōkăn`), city (1990 pop. 177,196), seat of Spokane co., E Wash., at the spectacular falls of the Spokane River; inc. 1881. , Wash.--(BUSINESS WIRE)--Oct. 15, 1996--Gold Reserve Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). - GLR GLR Great Lakes Region GLR Global Learning Resources, Inc (Fremont, CA) GLR Greater London Radio GLR Generalized Likelihood Ratio GLR Glare GLR Gaylord, Michigan (Airport Code) ; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on - GLDR GLDR Glider ) announced that recent offset drilling in the Southwest Zone of the Brisas Property demonstrates a strong correlation between drill-holes, and continues to confirm that 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. zone extends to the north, south and west. In addition, very shallow good-grade 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. has been intercepted in the camp area, approximately 400 meters northeast of previously reported drill-hole No. 464 located in the Southwest Zone. This newly identified mineralization suggests the possibility of the Southwest Zone mineralization continuing 400 meters to the north. New offset drill-holes have already been established and drilling is ongoing (MAP 1)(a). As a result of the identification of the Southwest Zone in June June: see month. 1996, a major new drill program was implemented by the company which will continue into 1997. This new drill program will be facilitated by a third drill rig which is now on the property and capable of drilling depths over 1,000 meters. SOUTHWEST ZONE (MAP II)(a) Continued offset drilling in the Southwest Zone shows strong correlation between holes and continues to indicate the mineralized zone extends to the north, south and west. The more important drill-holes and respective assay results are as follows: -0-
Intercept Interval Gold grade
Hole No. Meters Meters gms/tonne
484 162-207 45 1.10
222-249 27 5.40
267-318 51 1.19
477 183-225 42 1.03
231-252 21 0.79
261-297 36 1.38
330-369 39 1.28
479 165-171 6 0.65
246-252 6 1.62
291-297 6 0.73
321-330 9 0.91
345-351 6 0.93
360-432 72 1.24
473 189-222 33 0.88
237-261 24 0.58
267-273 6 0.87
279-285 6 0.66
324-366 42 0.88
372-378 6 0.93
466 165-225 60 1.18
237-261 24 1.10
NOTE: Drill-hole No. 466 was drilled to 261 meters in August and various attempts to re-enter re·en·ter also re-en·ter v. re·en·tered, re·en·ter·ing, re·en·ters v.tr. 1. To enter or come in to again. 2. To record again on a list or ledger. v.intr. the hole to deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. it were unsuccessful. CAMP AREA (MAP I AND II)(a) Previous drilling intercepted good mineralization in drill-hole No. 383 and intercepted a thick zone of deeper mineralization in drill-hole No. 275 approximately 400 meters northeast of the Southwest Zone drill-holes described above. In addition, drill-hole No. 470 intercepted shallow good-grade mineralization in this area which indicates the possibility that the Southwest Zone mineralization extends at least 400 meters to the north. 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 drilling in this area is in progress. The more important drill-holes in this area and respective assay results are as follows: -0-
Intercept Interval Gold Grade
Hole No. Meters Meters gms/tonne
--------------------------------------------------------------------
470 0-74 74 1.37
129-195 66 0.97
275 240-354 114 1.16
383 12-24 12 0.69
39-60 21 1.04
120-162 42 0.85
180-201 21 1.09
216-234 18 1.25
243-286 43 1.55
Including 249-251 3 9.44
EL REMO REMO Reciprocal Enforcement of Maintenance Orders (UK) & OTHER AREAS (MAP III)(a) Drilling in the El Remo Area continues to intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. isolated higher-grade gold zones, specifically drill-holes No.463, No.469, and No.481. Further evaluation of this area, the Crusher crusher, machine used to reduce materials such as ore, coal, stone, and slag to particle sizes that are convenient for their intended uses. Crushers operate by slowly applying a large force to the material to be reduced. Hill Zone and the Mundo Nuevo Mundo Nuevo (1966–1971, Spanish for "the New World") was an influential Spanish-language periodical, being a monthly revista de cultura (literary magazine) dedicated to new Latin American literature. Area will be conducted once additional drills become available. The more important drill-holes and respective assay results are as follows: -0-
Intercept Interval Gold Grade
Hole No. Meters Meters gms/tonne
--------------------------------------------------------------------
463 62-69 6 0.57
150-156 6 1.59
174-180 6 4.71
469 123-141 18 4.10
474 39-48 9 1.28
475 56-62 9 1.11
481 63-78 15 2.87
Assays have been received for holes that were drilled prior to Hole No.464 reported in September September: see month. 1996. These drill-holes (MAP II) were drilled principally on the east side of the Southwest Zone in the upper levels of the formation. The more important drill-holes and respective assay results are as follows: -0-
Intercept Interval Gold Grade
Hole No. Meters Meters gms/tonne
456 30-36 6 2.55
45-51 6 0.62
458 39-45 6 0.82
60-66 6 0.56
72-102 30 1.18
132-144 12 0.75
460 0-6 6 1.09
33-75 42 1.05
99-108 9 0.57
462 3-9 6 0.59
21-27 6 0.81
39-45 6 0.53
93-99 6 0.88
CONCLUSION Management is extremely pleased and very encouraged by the recent offset drilling in the Southwest Zone. This drilling confirms that the mineralized zone extends to the north, south and west and strongly indicates the possibility of the continuation of the Southwest Zone mineralization at least 400 meters to the north. Management plans to drill up to 45 exploration, condemnation Condemnation bell, book, and candle symbols of Catholic excommunication rite. [Christianity: Brewer Note-Book, 85] Bridge of Sighs passage from Doge’s court to execution chamber in Renaissance Venice. [Ital. Hist. and development drill-holes prior to the December break operating at two shifts per day. Development drilling will continue in the Southwest Zone with exploration drilling occurring in the area to the north of the Southwest Zone and west of the Pozo Azul Zone. Deep exploration targets in these areas have been identified by geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. and the results of the company's exploration program. The deep drill rig currently on the property will drill these targets during the next two months. Gold Reserve is exploring and developing the Brisas property in KM 88 in Southeastern Venezuela. The current estimate of the gold copper deposit is 6 million ounces of gold and 788 million pounds of copper. -0- NOTE: One ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. equals 31.1034 grams. (a) Maps available upon request as document No.1901 on Gold Reserve's Fax on Demand by calling 800/549-0673 CONTACT: |
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