Golden Phoenix Expands Exploration and Project Acquisition in Central Alaska.RENO, Nev.--(BUSINESS WIRE)--Oct. 13, 1997--Golden Phoenix Minerals Inc. began an aggressive exploration program early in 1997. GPXM targeted the highly prospective 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. trends and favorable geologic terrains of Central Alaska. Golden Phoenix Minerals has since acquired 17 prospects in six districts, including the Richardson, Bonnifield and Delta districts. Several extensive Joint Ventures and acquisitions are pending, however, their sensitive nature makes them extremely confidential. Golden Phoenix recently acquired additional projects in the Cantwell region, which has been the focus of recent gold exploration drilling by Addwest/Kennecott at their Golden Zone Pipe project. GPXM's aggressive exploration and reconnaissance program identified three additional target areas resulting in the claim staking acquisition of three new gold projects, owned 100% by Golden Phoenix Minerals Inc. In the Richardson district, Golden Phoenix increased its extensive land position north of the Tri-Valley and Cyprus Amax positions. Early October helicopter reconnaissance by GPXM geologists noted "follow-up" drilling in progress by Tri-Valley in the historic Democrat lode gold area. The Richardson district has become the focus of attention for numerous major-mining companies. This is located southeast of the Fairbanks District, which currently contains a reported 12 million ounces of drilled gold reserves. Golden Phoenix continues to aggressively pursue additional areas in the Bonnifield district, South of Fairbanks. GPXM is actively exploring this district for gold, silver, copper, lead and zinc. In addition to the volcanogenic vol·ca·no·gen·ic adj. Of volcanic origin. massive sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. (VMS (1) (Virtual Memory System) A multiuser, multitasking, virtual memory operating system for the VAX series from Digital. VMS applications run on any VAX from the MicroVAX to the largest unit. See OpenVMS. ) targets in the district, Golden Phoenix Minerals explorationists have identified a significant epithermal gold target with gold assays in excess of 1.0 opt gold and one large porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. related mineralized system. Both projects will be high-priority exploration targets early in 1998. GPXM has acquired 10-project areas in the extensively mineralized Bonnifield district. Grayd Resources recently announced additional encouraging drill results from their VMS-hosted Dry Creek Dry Creek may refer to:
Golden Phoenix Minerals plans to complete district wide compilations of all geologic information available and will complete additional mapping and sampling to further define drill targets for 1998. In addition, Golden Phoenix intends on exploring and developing selected properties to a stage of positive economic feasibility, prior to any sale of assets or mine construction decisions. GPXM will also provide joint venture opportunities to selected mining companies, to conduct exploration or development on additional properties the company owns. This will allow Golden Phoenix to acquire and maintain an interest in a large portfolio of properties for mineral exploration and development. Golden Phoenix Minerals Inc. (GPXM) is a NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. listed minerals exploration corporation dedicated to the discovery and development of precious and base metal deposits in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century and Alaska. CONTACT: Golden Phoenix Minerals Inc., Reno Mike Fitzsimonds, 702/853-4919 |
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