Indo Pacific Resources Ltd. Reports Drilling Results from its Dawa Dawa Drilling Program and Updates Progress at its Sumwari and Ambunti Exploration Licenses.PORT MORESBY Port Moresby (môrz`bē), town (1990 pop. 193,242), capital of Papua New Guinea, on New Guinea island and on the Gulf of Papua. Rubber, gold, and copra are exported. Port Moresby was founded by Capt. John Moresby, who landed there in 1873. , Papua New Guinea--(BUSINESS WIRE)--Oct. 20, 1997-- Indo Pacific Resourc(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). IPF (Itanium Processor Family) See Itanium. . ) Indo Pacific Resources Ltd. is pleased to report the following progress at its Papua New Guinea Papua New Guinea (păp`  ə, –y exploration licenses.Overview The Dawa Dawa drilling program has been completed and the drill rig will shortly be demobilized. Fieldwork field·work n. 1. A temporary military fortification erected in the field. 2. Work done or firsthand observations made in the field as opposed to that done or observed in a controlled environment. 3. has continued at full strength in the Sumwari license area; however, delays in transporting trench channel samples to the laboratory, and a back-log in assaying samples already in the laboratory, have delayed the compilation of data necessary to site the first drill holes. Only minor fieldwork is required on the Banang Prospect, Ambunti exploration license, before drilling can commence; however, the decision to move the drill-rig to Ambunti has been deferred until joint venture and financing negotiations concerning all of the Company's tenements, are concluded. A decision on the on-going drilling programs is expected shortly. Dawa Dawa At Dawa Dawa drilling was completed on October 13th, after four holes were drilled at the Mt. Haluba prospect, totaling 317.6 metres (MH No. 1 to 4), and eight holes were drilled at the Ulo Ulo prospect, totaling 303.3 metres (ULO No. 1 to 8). The lightweight RB40 diamond drill rig performed well, and the Company believes it will prove to be a very useful tool in the initial drilling phase of many new prospects.
Depth of Total Depth
Drill Inclination Oxidation of Hole
Hole No. -degrees -metres -metres
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MH No. 1 -65 22.8 103.8
MH No. 2 -65 12.5 80.5
MH No. 3 Vertical(-90) 30.0 82.8
MH No. 4 Vertical(-90) 24.0 50.5
ULO No. 1 Vertical(-90) 12.3 38.0
ULO No. 2 Vertical(-90) 16.5 40.5
ULO No. 3 Vertical(-90) 26.5 40.8
ULO No. 4 Vertical(-90) 13.5 49.7
ULO No. 5 -50 35.1 35.1 (x)
ULO No. 6 -60 35.6 40.8
ULO No. 7 -60 25.8 27.2
ULO No. 8 -60 11.8 31.2 (xx)
--------------------------------------------------------
Total Depth 620.9 metres
(x) Hole ULO No.5 terminated early due to difficult ground conditions; drill
stem abandoned down-hole
(xx) Hole ULO No. 8 terminated early due to mechanical problems
Assay results are slow in coming, both because of initial shipping problems and a back-log of samples which the laboratory is clearing. Results have now been received from Mt. Haluba Drill Holes No. 1 and No. 2 and the top of Hole No. 3, and from Ulo Ulo Hole No. 1. Mt. Haluba Drill Results The following table summarizes results received to date from Mt. Haluba as reported by the Analabs laboratory:
Hole No From To Interval Assay
(metres) (metres) (metres) (g/t)
-----------------------------------------------------------
MH No. 1 0.0 4.0 4.0 n.s.a.
4.0 24.0 20. 2.2
24.0 103.8 69.8 n.s.a.
-----------------------------------------------------------
MH No. 2 0.0 3.0 3.0 1.6
3.0 5.0 2.0 0.3
5.0 11.0 6.0 n.s.a.
11.0 16.0 5.0 2.55
16.0 20.0 4.0 0.13
20.0 25.0 5.0 1.74
25.0 80.5 55.5 n.s.a.
------------------------------------------------------
MH No. 3 0.0 2.3 2.3 n.s.a.
2.3 4.6 2.3 0.3
4.6 7.5 2.9 2.2
7.5 16.1 8.6 0.57
16.1 22.0 5.9 3.5
22.0 28.8 6.8 1.63
28.8 30.0 1.2 0.54
30.0 40.0 10.0 n.s.a.
further assay results pending
The results from Mt. Haluba demonstrate, in a very positive way, that dispersion and enrichment of gold have taken place in the weathering zone, forming a blanket over the ridge-top and spur. Only very low primary gold grades were encountered below the base of the weathering zone, in narrow pyritized brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec and veined sub-parallel shears in the propylitised gabbros and younger diorites comprising the main 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. structure. The area tested (including Mt. Haluba Drill Hole No. 4) is approximately 100 metres by 60 metres in extent, with a secondary enrichment depth varying from about 15 metres to a maximum of about 25 metres. Based upon surface sampling and field workers' observations the 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. may extend for a further 100 metres along strike to the southwest, thinning down towards the creek. Ulo Ulo Drill Results Drill results have only been received from Ulo Ulo Drill Hole No. 1, with results from the remaining 7 holes expected to follow, along with the remainder of the Mt. Haluba results, over the next 4 weeks. Drilling on the flat area of the saddle where the mineralization cuts across the ridge at Ulo Ulo, has shown that in spite of the present-day swampy swamp n. 1. a. A seasonally flooded bottomland with more woody plants than a marsh and better drainage than a bog. b. A lowland region saturated with water. 2. surface, the depth of weathering is relatively shallow, with strong oxidation oxidation /ox·i·da·tion/ (ok?si-da´shun) the act of oxidizing or state of being oxidized.ox·idative ox·i·da·tion n. 1. The combination of a substance with oxygen. 2. only in the uppermost several metres. This is underlain un·der·lain v. Past participle of underlie. by fresh rock with minor oxidation in shears and fractures to depths of 12 to 26 metres, below which the rock is totally fresh except in widely separated narrow crush-zones down which oxidation has penetrated to greater depths. Assay results from Ulo Ulo Drill Hole No. 1 indicate that the reducing environment A reducing environment is one chacterized by little or no free oxygen (dissolved or as a gas). In chemistry, reduction is the reverse of oxidation. That is, the oxidation state of an atom (independent or within a molecule) is reduced by the addition of electrons. necessary to deposit gold from solution in the water table, existed only in the strongly oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. crush-zones. Assays returned 0.7 g/t gold from 0.0 to 2.5 metres depth, below which the only significant values occur in two strongly oxidized crush zones, 4.8 g/t gold in a 60 centimetre section starting at 10.0 metres depth, and 10.3 g/t gold in another 60 centimetre section starting at 22.2 metres depth. A full analysis of bulldozer trenching and drilling results at Dawa Dawa will be completed when all results are at hand. Sumwari At Sumwari, hand-dug trenching has continued at a rate of 200 to 300 metres of new trench per week, concentrating at the eastern and western ends of the soil anomaly where the topography topography (təpŏg`rəfē), description or representation of the features and configuration of land surfaces. Topographic maps use symbols and coloring, with particular attention given to the shape and elevations of terrain. is more subdued sub·due tr.v. sub·dued, sub·du·ing, sub·dues 1. To conquer and subjugate; vanquish. See Synonyms at defeat. 2. To quiet or bring under control by physical force or persuasion; make tractable. 3. and the soil deeper. Assay results are starting to arrive, after long delays caused partly by the closure of Sumwari airstrip for several weeks. Highest trench channel sample results to date are in intrusives with the greatest amount of fracturing and quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. ; the best being a section of 20 metres at 2.4 g/t gold including 5 metres at 5.15 g/t gold. The base-line and cross-lines for a magnetometer survey have been completed, and this survey will be carried out after a field-break to allow the Company to catch up on the drafting of base maps and to receive and analyze the results of all sampling to date. Financing and Joint Venture Discussions Joint venture talks were held during and after the Australasian Institute of Mining and Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with conference held recently in Papua New Guinea (an event held once every three years), at which considerable enthusiasm was shown by a number of companies interested in exploring in Papua New Guinea. The Company is pursuing talks with several of these, and is optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op of favorable results. At the same time, a number of other avenues are being pursued to fund the Company's on-going exploration programs, and operations have been trimmed to achieve absolute maximum operational and economic efficiency. Indo Pacific Resources Ltd. is a mineral exploration and development company that seeks to identify and exploit precious and base metal opportunities in Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . The Company's focus is Papua New Guinea, a country renowned for its world class gold and copper mines. Indo Pacific holds more than 5,500 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
The Alberta Stock Exchange has neither approved nor disapproved the contents of this press release. CONTACT: Indo Pacific Resources Ltd. Bruce Macdonald, 403/543-2590 or Indo Pacific Resources Ltd. Allan Dolan, 403/543-2590 or Indo Pacific Resources Ltd. Peter Macnab, 011/675-693-7208 (5:00 to 7:00 pm EST EST electroshock therapy. EST abbr. electroshock therapy ) |
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