Northern Crown -- exploratory drilling at Guadalupe, Mexico.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 30, 1996-- Northern Crown Mines Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended : NCW NCW Network Centric Warfare NCW Nederlands Christelijk Werkgeversverbond (Den Haag, Netherlands) NCW National Commission for Women (India) NCW National Council of Women (UK) ) reported today that initial exploratory drilling at the "Guadalupe Mine Zone" of the company's extensive Guadalupe de los Reyes Los Reyes may mean:
Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. 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. in drill holes more than one kilometre apart. The company considers assay results from the first three holes of both tested areas within the Guadalupe Mine Zone as very encouraging, particularly a 51.8 metre intersection, from surface, that averaged 1.62 grams gold per tonne and 54.3 grams silver per tonne, and a 29.0 metre intersection 1000 metres along the strike on the Guadalupe West structure that assayed 3.59 grams gold per tonne and 44.0 grams silver per tonne. The overall Guadalupe de los Reyes drilling project has seen completion of 94 drill holes during the past four months. The current drilling program brings the total number of holes drilled by Northern Crown at Guadalupe to 163 comprising 15,000 metres of drilling. Drilling results have been previously reported from the project's Tahonitas, Noche Buena and Zapote epithermal gold zones, all located within close proximity to each other in the south- western sector of the 59 kilometre-square Guadalupe camp. More recently, drilling has been directed to completion of 22 holes within the centrally-located Guadalupe Mine Zone and 8 holes within the northern El Orito zone. The Guadalupe Mine Zone has seen most of the historic mining activity over the past 200 years with production reportedly reaching 525,000 ounces of gold and 41 million ounces of silver from extensive underground workings. Northern Crown's initial exploration has been directed to successful indication of near-surface gold and silver mineralization amenable AMENABLE. Responsible; subject to answer in a court of justice liable to punishment. to open-pit mining Open-pit mining, also known as opencast mining, refers to a method of extracting rock or minerals from the earth by their removal from an open pit or borrow. above the historic mine workings. At a later stage, continued drilling is likely to prove additional potential for mineralization that may be produced from underground. Gold and silver assays are reported for the first 6 of the 22 holes drilled within the 1.7 kilometre length of the Guadalupe Mine Zone. Additional results are pending and will be reported within two weeks. Assays for 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. intersections are reported below. -0- GUADALUPE MINE ZONE - DRILL HOLE SUMMARY
Gold Silver
Intercept Interval Assay Assay
Section Hole (m) (m) (g/t) (g/t)
4800 96GL-1 171.6-176.8 5.2 1.17 37.8
4850 96GL-2 0.0-51.8 51.8 1.62 54.3
Includes 36.6-51.8 15.2 3.30 105.3
4850 96GL-3 13.7-38.1 24.4 1.80 72.1 3800 96GW-1 36.6-57.9 21.3 0.90 24.3
3800 96GW-2 59.4-88.4 29.0 3.59 44.0
Includes 70.1-88.4 18.3 5.48 62.5
3850 96GW-3 33.5-47.2 13.7 0.46 27.1 Results received for 8 holes testing 300 metres of the five kilometre-long El Orito zone indicated intersections of weak alteration containing sub-economic but anomalous gold-silver values. Further exploration is warranted. The current phase of drilling at the Guadalupe Project has now been completed with 9100 metres bored over the past four months. With the onset of the "rainy rain·y adj. rain·i·er, rain·i·est Characterized by, full of, or bringing rain. rain i·ness n.Adj. season," field crews have been demobbed. Over the next two months indication of size potential of the five epithermal gold zones will be reported following which, reserve definition drilling and on-going exploratory drilling will resume. With the Guadalupe de los Reyes Project indicating approximately one million ounce gold potential, it is Northern Crown's 1996 objective to drill-indicate a minimum 500,000 contained ounces of gold. Preliminary feasibility studies The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. for mine development would be initiated following completion of the current program. Northern Crown Mines Ltd. Symbol: NCW (VSE resource board) Shares Outstanding 12.5 million Fully Diluted 16.0 million Trading Range (June/July) CDN$0.91 - $1.60 -0- NOTE: Location map available from the Company at the phone number listed above. 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 not reviewed, and does not accept responsibility, for the accuracy or adequacy of this news release. CONTACT: Northern Crown Mines Ltd. Brent Bagshaw Investor Relations Investor relations The process by which the corporation communicates with its investors. 604/687-4951 604/687-4991 (Fax) |
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