Ventures Resource Releases Flanders Drilling Results.Business Editors ANCHORAGE, Alaska--(BUSINESS WIRE)--Aug. 30, 2000 C.G. (Riz) Bigelow, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ventures Resource Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :VRS (Video Relay Service) A communications service for the hearing or speech impaired. A VRS is the video counterpart of a TTY relay service, in which the user types on a terminal, and the relay operator speaks the messages to the recipient (see TDD/TTY). .), today announced successful drilling results at Flanders in the Seventymile gold district. Ventures controls the mineral rights to the district, which is in the Tanana Uplands heart of the Tintina Gold Belt. Located 30 miles west of Eagle on the Taylor Highway The Taylor Highway (numbered Alaska Route 5) is a highway in the U.S. state of Alaska that extends 160 miles (258 km) from Tetlin, about 11 miles (17 km) south of Tok on the Alaska Highway, to Eagle. , access is by tractor trail and the Alder alder (ôl`dər), name for deciduous trees and shrubs of the genus Alnus of the family Betulaceae (birch family), widely distributed, especially in mountainous and moist areas of the north temperate zone and in the Andes. airstrip, two miles from Flanders. Preliminary drilling at the close-spaced Flanders, Alder, Bonanza and Flume deposits by Central Alaska Gold (CGAC CGAC Consejo General de Colegios de Agentes Comerciales de España (General Council of Business Agents' Associations of Spain) CGAC Canada Games Aquatic Centre CGAC Customs General Administration of China CGAC Combined Generator Air Conditioner ) in 1990-1991 was aborted a·bort v. a·bort·ed, a·bort·ing, a·borts v.intr. 1. To give birth prematurely or before term; miscarry. 2. To cease growth before full development or maturation. 3. when CAGC CAGC Canadian Association of Genetic Counsellors (Oakville, ON, Canada) CAGC Clutter Automatic Gain Control lost its funding. In 1996, Ventures commenced examinations to better define drill targets, and evaluate other segments of the 20-miles long gold belt. Coarse-grained native gold occurs in quartz veins hosted by Triassic metabasalt and greenstone green·stone n. Any of various altered basic igneous rocks colored green by chlorite, hornblende, or epidote. greenstone Noun NZ a type of green jade used for Maori carvings and ornaments . Veining vein·ing n. Distribution or arrangement of veins or veinlike markings. is associated with quartz-carbonate alteration characteristic of mesothermal gold systems similar to the California Mother Lode Mother Lode, belt of gold-bearing quartz veins, central Calif., along the western foothills of the Sierra Nevada. The term is sometimes limited to a strip c.70 mi (110 km) long and from 1 to 6 1-2 mi (1.6–10.5 km) wide, running NW from Mariposa. and Bralorne. Drill results indicate the gold is in a series of veins, apparently dipping gently north, cross-cutting host rocks steeply dipping to the north. At Flanders, Ventures drilled 3,429 feet in FD00-1 to FD00-6), augmenting data from the 10 CAGC holes (3,068 feet). Fifteen holes are in a 1,000 x 700 feet segment of the 5,000 feet long gold anomaly. All six Ventures holes contain gold. Higher grade values received to date are listed in the following table.
Drill Hole Interval (ft) Ounces per ton gold
FC00-2 lost
FC00-3 4.5 0.06
2.0 0.06
10.0 0.09
FC00-4 11.7 0.11 (includes 1.2 ft of 0.46 opt)
4.7 4.61 (or 3.6 ft of 6.00 opt)
8.0 0.07
3.0 0.11
8.4 0.09
4.3 0.39
4.3 0.13
FC00-5 4.6 0.09
1.1 0.48
FC00-6 4.4 0.05
1.0 0.36
2.3 0.38
2.3 0.13
The intensity of 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. increases northwest (down-rake) and west across the heart of the drilled area to FD00-4, beyond which the deposit is unexplored. FD00-4 contains the highest number of notable intercepts and the highest grade of the 16 drill holes. Twelve samples contain 0.05 opt gold, nine greater than 0.1 opt, including 4.7 feet of 4.61 opt, and 4.3 feet of 0.39 opt gold. The westerly Westerly, town (1990 pop. 21,605), Washington co., extreme SW R.I., between the Pawcatuck River and Block Island Sound; inc. 1669. Its textile industry dates from 1814, and granite has been quarried there since c.1850. gold buildup is indicated by decrease in the number of 0.05 opt gold intercepts from 12 in FD00-4 to 3 in FD00-3, 590 feet to the east, the mineralization being very weak 350 feet further east in FD00-1. The 7.4 feet of 0.12 opt (10 feet of 0.09 opt) ) near the bottom of FD00-3 may pass beneath the bottom of FD00-4, suggesting presence of gold mineralization of untested merit deeper in the system. Higher grade drill intercepts in holes progressively south-eastward from FD00-4 include: FD00- 6 (1.0 feet of 0.36 opt, 2.2 feet of 0.38 opt, and 2.3 feet of 0.13 opt gold) and nearby FC00-29 (4.3 feet of 0.26 opt and 33.9 feet of 0.05 opt gold), FC00-13 (28.5 feet of 0.29 opt, including 5 feet of 0.59 opt and 3 feet of 1.63 opt gold), FC90-25 (5.5 feet of 0.18 opt), FC00-18 (5.9 feet of 0.17 opt and 8 feet of 0.27 opt), FC00-19 (9.1 feet of 0.133 opt), FC00-16 (5.5 feet of 0.32 opt), and FC00-17 (4.5 feet of 0.09 opt and 1.1 feet of 0.483 opt). An isolated hole 600 feet further east (FD00-5) contains 4.6 feet of 0.09 opt and 1.1 feet of 0.483 opt gold. All holes are bottomed within the gold system. Summarily, preliminary drill results are positive, indicating potential for discovery of exploitable bulk mineable vein swarms, and (or) one or more high-grade ore shoots, most obviously to the north and west of FC00-4 toward the neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. Alder deposist, and also deeper in the system. Establishment of a drill grid designed to develop a viable gold resource is warranted. Seventymile shares the Tanana Uplands segment of the Tintina Gold Belt with productive gold districts. The Klondike is to the east, Circle, Fairbanks, and others to the west, with the Richardson, Goodpaster, and Fortymile to the southwest and south. Publicized pub·li·cize tr.v. pub·li·cized, pub·li·ciz·ing, pub·li·ciz·es To give publicity to. Adj. 1. publicized - made known; especially made widely known publicised projects include Fort Knox Fort Knox [for Henry Knox], U.S. military reservation, 110,000 acres (44,515 hectares), Hardin and Meade counties, N Ky.; est. 1917 as a training camp in World War I. It became a permanent post in 1932. In the steel and concrete vaults of the U.S. , where Kinross produces over 350,000 ounces annually, the nearby True North, Gil, and Ryan Lode developments. the Sumitomo-Teck Pogo development (10 million tons of 0.5 opt gold), and Viceroy's Brewery Creek mine. The all-categories inventory in the local region exceeds 35 million ounces gold, 16 million ounces of lode gold added in the 1990s. Selected Ventures (FD) and CAGC (FC) drill results are listed below. Drill Hole From To Feet Oz/ton FD00-3 528.0 529.5 1.5 0.17 FD00-3 704.1 711.5 10.0 0.09 FD00-4 235.5 238.3 2.8 0.23 FD00-4 246.0 247.2 1.2 0.46 FD00-4 297.8 301.4 3.6 6.01 FD00-4 351.0 353.0 2.0 0.16 FD00-4 357.5 359.0 1.5 0.12 FD00-4 497.5 499.0 1.5 0.40 FD00-4 551.6 553.3 1.7 0.94 FD00-4 549.0 553.3 4.3 0.38 FD00-4 632.3 634.0 1.7 0.33 FD00-5 170.0 171.1 1.1 0.48 FD00-6 158.0 159.0 1.0 0.36 FD00-6 251.9 256.0 4.1 0.21 FD00-6 316.7 319.0 2.3 0.13 FD00-6 398.5 389.0 Results pending FC90-13 137.0 165.5 28.5 0.29 FC90-13 275.5 279.0 3.5 0.11 FC90-14 116.0 120.0 4.0 0.12 FC90-14 93.0 95.0 2.0 0.93 FC90-14 134.5 137.5 2.5 0.11 FC90-14 184.0 187.0 3.0 0.14 FC90-16 57.0 62.5 5.5 0.32 FC90-17 20.5 22.5 2.0 0.29 FC90-17 50.0 53.1 3.1 0.22 FC90-17 173.5 176.3 2.8 0.16 FC90-18 21.8 25.3 3.5 0.27 FC90-18 364.0 372.0 8.0 0.27 FC90-19 28.3 37.4 9.1 0.13 FC90-25 119.5 124.5 5.0 0.18 FC90-29 124.7 129.0 4.3 0.26 FC90-29 176.0 177.6 1.6 0.19 FC90-29 277.5 278.5 1.0 0.14 FC90-29 296.2 297.2 1.0 0.90 Ventures has exclusive mineral rights to over three million acres of private land in Alaska through an agreement with Doyon, Limited Doyon, Limited is one of thirteen Alaska Native Regional Corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. Doyon, Limited was incorporated in Alaska on June 26, 1972. , an Alaskan Native Corporation. Ventures Resource Corporation is an international exploration company dedicated to building shareholder value through the discovery of mineral deposits. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. |
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