Sulliden Exploration Inc. - Las Huaquillas Project - Phase II Exploration Underway.MONTREAL--(BUSINESS WIRE)--July 2, 1997-- SULLIDEN EXPLO EXPLO Explosive(s) (ME:SUE) Sulliden Exploration Inc. ("Sulliden") wishes to inform its shareholders that the second phase of exploration, budgeted at Cdn $1.4 million, began officially June June: see month. 18, 1997 on its Las Huaquillas Huaquillas is a town in western El Oro, a province of SW Ecuador. It is the canton seat of the Huaquillas Canton. Huaquillas is located on the border with Peru. An international bridge that goes over the Zarumilla River connects it with the Peruvian town of Aguas Verdes. project, Cajamarca Cajamarca (kähämär`kä), city (1993 pop. 123,195), capital of Cajamarca prov., N Peru. An important commercial center, Cajamarca is situated at an altitude of c.9,000 ft (2,740 m) and has a cool, dry climate. Department, Peru. Already, 80 percent of the 22 kilometres of line cutting to extend the existing grid to the northeast, the south and southwest has been completed, geophysical surveys 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. (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 and magnetics) have commenced, and soil geochemical sampling has started today. Our recently hired senior project geologist, Louis Gariepy, is on site supervizing the advancement of all aspects of this exploration program and will be reexamining systematically all past work. The combination of past data and this summer's data will direct our drilling program (at least 2,000 metres) that is to commence in the coming weeks. This program is planned to outline reserves on the epithermal-style (gold) Los Socavones deposit and to establish the size of the porphyry-style (copper plus or minus gold plus or minus molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. ) Cementerio 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. . As a result of the positive data from the phase I exploration program, Alain Vachon, our Exploration Manager, will be giving on July 22-23, 1997 a site visit to geologists A geologist is a contributor to the science of geology. Geologists are also known as earth scientists or geoscientists. The following is a list of famous or notable geologists. of several major mining companies who have shown their interest in this prospective land package. Management intends to keep its shareholders abreast of the on-going progress made during this multi-technical exploration program. -0- Corporate Information Listing: Montreal Exchange (ME) Symbol: SUE CUSIP: 301929105 Recent Trading: Cdn $2.50-3.05 Outstanding Shares: 11,593,594 (1) Fully Diluted Shares: 13,839,044 (1) Market Float: 7,500,000 Market Capitalization: Cdn $35,000,000 (1) : As at June 17, 1997 Project Synopsis (May, 1997) Las Huaquillas , Peru 8,800 hectares Exercized option to be 100 percent owner Los Socavones Zone: Epithermal-Style Au Mineralization Reanalyzed and confirmed Peruvian DDH results (1992) Drilled tested structure over 400 m strike length, 200 m depth and 20-60 m width DDH LH97-08: 70.5 m at 2.59 g/t Au, 18.2 g/t Ag Structure followed for at least 2.1 km via geophysics, soil sampling and trenching Cementerio Zone: Porphyry-Style Cu-Au Mineralization - New Discovery DDH LH97-04: 99.5 m at 0.47 percent Cu, 0.11 g/t Au, 4.5 g/t Ag Widespread advanced argillic alteration 800X300 m soil anomaly greater than 100 ppb Au Strong IP anomalies associated Betts Cove Properties, Newfoundland Has right to earn 100 percent and 50 percent interests in Red Cliff Pond and Long Pond properties, respectively Discovery of new East Pond showing on Red Cliff Pond property DDH RCP-97-02: 17 g/t Au/0.6 m Same geological setting at Nugget Pond Mine 4 km SW of property NOTE TO EDITORS: NO REGULATORY AGENCY regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. HAS EITHER APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE CONTACT: Sulliden Exploration Inc. Alain Vachon, 514/ 861-1953 514/861-1446 (FAX) http://www.sulliden.com sulliden@corc-net.com or Sulliden Exploration Inc. Cecilia L. Jenkins, 514/861-1953 514/861-1446 (FAX) http://www.sulliden.com sulliden@core-net.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion