Mineraux Manic Inc.: Drill Results Completed First Hole MC-1-90.MONTREAL--(BUSINESS WIRE)--Nov. 7, 1997--(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :MXXM) The Company's first drill hole, started in 1991, was designed to determine the cause of an extremely wide and powerful magnetic anomaly centered in the middle of the large Manicouagan meteorite crater in Eastern Quebec. This magnetic anomaly is coincident with a gravity anomaly, which would also suggest the presence of dense and heavy buried material. The hole was collared at 215 degrees and inclined at 60 degrees. It was drilled to a depth of 488 meters (1600 feet) in 1991 before being temporarily halted. The Company has now completed this first drill hole by deepening it to 915 meters (3002 feet), thereby attaining a vertical depth of about 610 meters (2000 feet). DRILL RESULTS This first drill hole has proved the presence of a hitherto unknown sequence of impact-melt rocks of a more mafic nature, underneath a "roof" of shock metamorphosed unmagnetic Grenvillean gneisses, 1500 vertical feet thick. These impact rocks occupy cavities or basins under the fractured basement and include units of spectacular suevite or "fall-back" breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. in contact with the impact melt sequence of rocks and partially assimilated with them. Dyke-like rocks resembling classical Kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. (diamond-bearing breccia pipes) are also present, as well as very unusual mineral and rock assemblages, which will be analyzed and identified in the near future. ALTERATION AND 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. The impact melt rocks can be divided into several units of varying grain texture, magnetism, alteration and mineralization. These units vary from fine grained homogenous homogenous - homogeneous , non-magnetic crystalline rocks, to larger grained mesocratic units hosting 3 - 5 percent magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. and demonstrating contact and flow foliation foliation Planar arrangement of structural or textural features in any rock type, but particularly that resulting from the alignment of constituent mineral grains of a metamorphic rock along straight or wavy planes. . The drill hole intercepted one 25-foot thick band of impact melt 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. with 7 to 10 percent disseminated pyrite, which will be analyzed for metals. Chlorite chlorite Widespread group of layer silicate minerals composed of hydrous aluminum silicates, usually of magnesium and iron. The name, from the Greek for “green,” refers to chlorite's typical colour. alteration is present in some units. COMMENT The Company management and geologists are extremely happy with these results. They indicate that an explanation for the magnetic anomaly can indeed be found within these rocks at probably moderately deeper vertical levels. The Company has planned four more vertical holes of at least 3000 feet deep to determine whether the anomalies are caused by the remnant of a iron-nickel meteorite or the presence of Sudbury or Voisey-Bay type intrusions or sills. NEXT DRILLING The first hole was halted at 915 meters due to caving despite valiant efforts on the part of the drillers. The next hole, MC-97-01, will be drilled about 500 meters away and nearly vertical, in order to intercept the new sequence of impact melt rocks more quickly and eventually carry on to test greater depths. LISTING APPEAL - MONTREAL EXCHANGE The Company management and legal counsel had a hearing before the Montreal Exchange's Board of Governors' listing committee on Thursday, October 30, 1997 to appeal the Exchange's July 1997 decision to refuse to list the Company's shares. The Company is waiting for the decision of this Committee. No indication has been made by the members of the Committee when their decision will be rendered. TRADING IN MINING SHARES A CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. report dated October 30th indicates that more than 800,000 shares have been traded (a reporting requirement in Ontario alone) during the past ten weeks. The OTC unlisted symbol is MXXM. No bids nor quotes - only recent recorded transactions reported to the CDN are shown on the market interest indicator screen or are quoted in the Toronto Star newspaper. Lauri Boivin President CONTACT: Mineraux Manic Inc. Joseph Even-Hen, 514/288-4333 514/288-3930 (FAX) or Mineraux Manic Inc. Lauri Boivin, 514/288-4333 514/288-3930 (FAX) |
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