Morgain Minerals Inc. - Exploration Update.TORONTO--(BUSINESS WIRE)--June 25, 1997--Morgain Minerals Inc., (VSE See DOS/VSE. VSE - Virtual Storage Extended :MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. .) the Company wishes to announce preliminary results of it's airborne geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. completed over the Argentina, Ines 4 and the Oro Yaqui 2 properties including an area south of the Argentina property which constitutes part of the El COMPA COMPA Convergence of Organizations and Movements of Peoples of the Americas PROJECT near Sahuaripa, Sonora, Mexico. The AG Survey outlined two large significant circular radiometric-magnetic low anomalies, each about 2-3 kms in diameter. One is located immediately north of the Argentina property now referred to as the NA anomaly and the other, south of the Argentina property referred to as the SA anomaly. Another large northwest-trending radiometric-magnetic-low anomaly coincidental with old gold showings and widespread gossans, and at least 1 km wide and 4 kms in length, exists on the Oro Yaqui 2 property. The NA anomaly has a wide circular gossan gos·san n. An exposed, oxidized portion of a mineral vein, especially a rust-colored outcrop of iron ore. [Cornish gossen, from g zone along its northerly rim. Results of a recently completed reconnaissance geochemical survey over the area illustrates this anomaly to be strongly anomalous in gold. The NA anomaly area has all the characteristics representing an immensely large, gold-bearing gossan zone about 20 times the size of that found on the Argentina Gold Property where a recent drilling program encountered economic gold-bearing zones. The ground Induced Polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is (I.P.) survey completed on the Argentina Gold Property revealed strong, wide I.P anomalies. Preliminary evaluation suggests that the I.P. survey needs to be extended both to the north and south to determine the length of the I.P. zone prior to determining drilling targets. A major R.C. drilling program is presently being prepared for the Argentina Gold Property. It is our expectation to add drilling targets on the recently discovered large circular anomaly to the north (N.A. anomaly) as well. THE OFELIA GOLD PROPERTY Drilling on this property has now been completed and most of the assay results have now been received. Upon completion of assay checks, all results will follow in a complete report. ON BEHALF OF THE BOARD JOSEPH DE FELICE VICE PRESIDENT -0- Note to Editors: The information in this release was prepared by Raymond J. Mongeau for the company. The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the information herein. CONTACT: Morgain Minerals Inc. Joe De Felice, 416/364-5756 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion