Royaledge Resources Inc. - Preliminary work on South Fork reveals presence of high grade ore in excess of .33 ounces of gold per ton - Section 12 drilling continues to produce encouraging results.TORONTO--(BUSINESS WIRE)--Aug. 29, 1996--ROYALEDGE RESOURCES(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : RYE ) Royaledge Resources Inc. ("Royaledge" or the "Company") is pleased to announce that its preliminary investigations on the South Fork claims revealed large areas of hydrothermal alteration and metamorphism metamorphism, in geology, process of change in the structure, texture, or composition of rocks caused by agents of heat, deforming pressure, shearing stress, hot, chemically active fluids, or a combination of these, acting while the rock being changed remains contained in a large northeast trending fault system. Testing confirms that significant volumes of limestone and other consanguine con·san·guin·e·ous also con·san·guine adj. Of the same lineage or origin; having a common ancestor. [From Latin c rock have been replaced with silica or have been metamorphosed along the strike of the structure. Other faults cutting the major fault system have combined to form tensional fractures hosting gold bearing silica containing large amounts of iron oxides. Intrusive rocks spatially related to theses features have marbleized mar·ble·ize tr.v. mar·ble·ized, mar·ble·iz·ing, mar·ble·iz·es To marble. Adj. 1. marbleized - patterned with veins or streaks or color resembling marble; "marbleized pink skin" the limestone and produced some skarn. Assayed samples taken at surface from these silica filled structures produced results in excess of 11 grams of gold per ton (.33 ounces of gold per ton) while samples taken from the wall rock surrounding these structures contained gold values over 7 grams per ton (.23 ounces per ton). The Company believes the chances are good for the discovery of gold resources if the continuing program of mapping, geophysical work and geochemical testing confirms that the exposed alteration was mainly due to a hydrothermal event. Royaledge has converted its South Forth mining lease on 19 claims located southwest of Elko, Nevada, to titled claims. The Company has also added 8 additional claims adjacent to the original South Fork claims, resulting in an aggregate ownership of 440 acres of highly prospective mineral property. The Company's exploration program on Section 12, located in the Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend, Nevada, continues. Four deep holes, totalling 7,100 feet, have been completed. This portion of the program has been successful and produced significant results. It has confirmed the presence of other potential gold host rocks lying below the zone encountered in this phase of the drilling. The exploration program has proved up the geologic model the Company is using. It now appears that a gold mineralizing system has been at work in the area but at slightly greater depths than originally anticipated. This is confirmed by the increasing existence and changing values in such metals as vanadium vanadium (vənā`dēəm), metallic chemical element; symbol V; at. no. 23; at. wt. 50.9415; m.p. about 1,890°C;; b.p. 3,380°C;; sp. gr. about 6 at 20°C;; valence +2, +3, +4, or +5. Vanadium is a soft, ductile, silver-grey metal. , arsenic and antimony antimony (ăn`tĭmō'nē) [Lat. antimoneum], semimetallic chemical element; symbol Sb [Lat. stibium,=a mark]; at. no. 51; at. wt. 121.75; m.p. 630.74°C;; b.p. 1,750°C;; sp. gr. (metallic form) 6. found during the testing program. Several deeper holes have been located to target potential multiple hosts 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. systems. The Company is very pleased and encouraged by the progress of these two projects. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Royaledge Resources Inc. Michael W. Manley, 416/862-0887 416/862-2204 (Fax) |
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