Ourominas Completes Financing and Announces Drill Results.TORONTO--(BUSINESS WIRE)--Sept. 11, 1997--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended OMI (1) See Open Market. (2) (Open Microprocessor Initiative, Brussels, Belgium) An organization that functions under the umbrella of the European Commission. It funds projects that research and develop advanced microcontroller technologies. .) Ourominas Minerals Inc. (OMI: TSE, VSE) is pleased to announce that it has received regulatory approval for its final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. qualifying for distribution 8,000,000 common shares and 4,000,000 share purchase warrants on the exercise of 8,000,000 Special Warrants issued by the Company at $1.25 per Special Warrant on June 13, 1997. Each Special Warrant is convertible into one common share and one half share purchase warrant. Each full share purchase warrant is exercisable into one common share at $1.50 until December 14, 1998. Diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral of the Core Area and the Arrastro Sul area is nearing completion and the drill will then be moved to drill the targets at the Arrastro Hills. The stream sediment sediment, mineral or organic particles that are deposited by the action of wind, water, or glacial ice. These sediments can eventually form sedimentary rocks (see rock). program and trado drilling have identified targets in this area. "The results of the stream sediment sampling have produced very encouraging results and the initial interpretation of the aeromag has supported our decision to begin drilling the Arrastro Hills as soon as possible," said Ourominas President Geoffrey Carter. Drilling up to hole 77 has been completed and a further five holes are planned at Arrastro Sul and Capixaba area. The table below gives the significant results of drill holes 61 through 73 and the attached map identifies where these targets are. -0-
DRILL INTERVAL INTERSECTION GRADE
HOLE (METRES) (METRES) (g/t)
J61 -45 Dona Maria Pit, 50m south of J7
degrees 128.24-129.16 0.92 25.16
J62 -45 Uiliam Pit, to test mineralization below Gleba
degrees Drainage
99.36-100.36 1.0 2.92
196.50-196.92 0.42 10.18
J65 -45 Drilled from J20, south west of Capixaba 1 Pit
degrees 60.14-61.14 1.0 1.54
203.32-203.82 0.5 2.09
J67 -45 Drilled 25m west of Capixaba
degrees 18.17-20.55 2.38 3.37
including 18.17-19.6 1.43 4.65
J68 -45 Drilled from J20, to test mineralization below Gleba
degrees Drainage
89.20-91.90 2.7 1.74
including 89.70-90.15 0.45 5.54
ARRASTRO SUL
J70 18.95-19.45 0.50 2.53
23.15-24.68 1.53 5.49
including 23.15-23.68 0.53 12.28
89.45-89.90 0.45 1.99
J71 103.0-104.85 1.85 2.64
139.35-139.80 0.45 2.04
203.0-204.0 1.0 2.0
205.0-205.5 0.5 5.7
Ourominas is a mineral exploration company that is focusing its efforts and expertise on advancing Brazilian gold properties. The Company has interests in eight projects covering more than 7,500 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:
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. mining areas in the world's fifth largest gold producing nation. -0- There is a map available by accessing CCN's Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Website at http://www.cdn-news.com. No Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Exchange has approved or disapproved of the adequacy of this release. CONTACT: Ourominas Minerals Inc. Kristine Dunstan, 416/ 594-3293 Website: www.ourominas.com Email: ourominas@aol.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion