Post by Franko10 ™ on Sept 20, 2004 13:40:33 GMT -5
Thu Aug 26, 2004
Initial Drill Hole Intersects Visual Mineralization, Antimony Mountian, Yukon
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Vancouver, B.C. - War Eagle Mining Company Inc. (TSX Venture Exchange -- WAR) August 26, 2004 -- Terry Schorn, President reports that the first drill hole of the proposed five-hole program was drilling as of August 25 at a depth of 230 metres (759 feet) with a target depth of 300 metres (980 feet). Sulfide mineralization has been observed throughout the entire core length with the mineralization both disseminated in the syenite host rock as well as along fracture planes. The core is presently being split for assay. The initial diamond-drilling program will total approximately 1000 m (3,275 feet).
The large porphyry target being drill tested is hosted within the Antimony Mountain pluton, a part of the Tombstone Intrusive Suite that is associated with a number of major metal deposits including Fort Knox, True North and Pogo in Alaska and Brewery Creek, Dublin Gulch and Keno Hill in Yukon.
The drill target at the Antimony Mountain property is known as Wizard Ridge and is a 1.5 km diameter area of strongly anomalous copper and precious metal geochemical values associated with visible surface mineralization. Soil samples from both sides of Wizard Ridge returned encouraging values with gold between 100 and 1195 ppb and copper between 200 and 700 ppm. The favorable host rocks, size and intensity of the geochemical anomalies and presence of mineralized veins suggest excellent potential for large tonnage porphyry type mineralization.
The Antimony Mountain property is located 25 km north of the former Brewery Creek gold mine and 12 km east of the Dempster Highway in Yukon. The Company has a 50% Joint Venture interest in the Antimony Mountain Property.
The company has completed a "flow through" private placement of 452,857 units priced at $0.35 per unit for total proceeds of $158,500, which are the Company's expected exploration costs for the phase one drilling program at Antimony Mountain. Each unit consists of one common share and one non-transferable share purchase warrant priced at $0.40 until August 19, 2005.
The Company has also reached agreement to complete a private placement as to 1,000,000 units priced at 30 cents per unit for proceeds of $300,000. Each unit consists of one share and one non-transferable share purchase warrant priced at 35 cents per share until August 26, 2005.
War Eagle Mining Company's web site is now available for viewing at www.wareaglemining.com
For information contact:
Bob Faris, V P, Corporate Development
1-800-877-1626 or 604-606-7973
Initial Drill Hole Intersects Visual Mineralization, Antimony Mountian, Yukon
--------------------------------------------------------------------------------
Vancouver, B.C. - War Eagle Mining Company Inc. (TSX Venture Exchange -- WAR) August 26, 2004 -- Terry Schorn, President reports that the first drill hole of the proposed five-hole program was drilling as of August 25 at a depth of 230 metres (759 feet) with a target depth of 300 metres (980 feet). Sulfide mineralization has been observed throughout the entire core length with the mineralization both disseminated in the syenite host rock as well as along fracture planes. The core is presently being split for assay. The initial diamond-drilling program will total approximately 1000 m (3,275 feet).
The large porphyry target being drill tested is hosted within the Antimony Mountain pluton, a part of the Tombstone Intrusive Suite that is associated with a number of major metal deposits including Fort Knox, True North and Pogo in Alaska and Brewery Creek, Dublin Gulch and Keno Hill in Yukon.
The drill target at the Antimony Mountain property is known as Wizard Ridge and is a 1.5 km diameter area of strongly anomalous copper and precious metal geochemical values associated with visible surface mineralization. Soil samples from both sides of Wizard Ridge returned encouraging values with gold between 100 and 1195 ppb and copper between 200 and 700 ppm. The favorable host rocks, size and intensity of the geochemical anomalies and presence of mineralized veins suggest excellent potential for large tonnage porphyry type mineralization.
The Antimony Mountain property is located 25 km north of the former Brewery Creek gold mine and 12 km east of the Dempster Highway in Yukon. The Company has a 50% Joint Venture interest in the Antimony Mountain Property.
The company has completed a "flow through" private placement of 452,857 units priced at $0.35 per unit for total proceeds of $158,500, which are the Company's expected exploration costs for the phase one drilling program at Antimony Mountain. Each unit consists of one common share and one non-transferable share purchase warrant priced at $0.40 until August 19, 2005.
The Company has also reached agreement to complete a private placement as to 1,000,000 units priced at 30 cents per unit for proceeds of $300,000. Each unit consists of one share and one non-transferable share purchase warrant priced at 35 cents per share until August 26, 2005.
War Eagle Mining Company's web site is now available for viewing at www.wareaglemining.com
For information contact:
Bob Faris, V P, Corporate Development
1-800-877-1626 or 604-606-7973