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Post by Franko10 ™ on Oct 20, 2004 14:40:45 GMT -5
War Eagle Mining Company Inc.: Antimony Mountain Gold Prospect Drill Results Phase I
VANCOUVER, BRITISH COLUMBIA, Oct 20, 2004 (CCNMatthews via COMTEX) -- (CCN Mathews)
War Eagle Mining Company Inc. (TSX Venture Exchange - WAR) War Eagle Mining Company Inc. and Strategic Metals Ltd. report results of a jointly funded, 832 m (2,746 ft) diamond drill program that was recently completed at their Antimony Mountain property in central Yukon.
A total of four holes were drilled at Antimony Mountain to test strong gold, and copper soil geochemical anomalies on the flanks of Mt. Walker, a prominent peak. The holes form a triangle with holes 1 and 2 drilled from two corners and holes 3 and 4 drilled in opposite directions from the third corner. The three corners of the triangle range from 520 to 1000 m (1,716 to 3,300 ft) apart. All holes were drilled nearly perpendicular to an east-west trending extensional fracture set.
The drill program was designed to test for bulk tonnage, intrusive hosted gold mineralization. Three of the four holes (1, 2 and 4) cut 20 to 40 m (66 to 132 ft) intervals that are notably enriched in gold (200 to 300 ppb). Total sulphide content is low, averaging about 2% in gold enriched intervals. Arsenopyrite and chalcopyrite are the most common sulphide minerals, usually occurring on hairline fractures, in 0.2 to 2 cm wide quartz veinlets or in narrow alteration envelopes surrounding the mineralized fractures and veinlets. Gold content generally increases as elevation increases, suggesting that the most favorable target lies higher on the slopes of Mt. Walker, closer to the core of the geochemical anomaly. The next phase of exploration is expected to be systematic channel sampling of outcrops and cliffs around the perimeter of Mt. Walker, starting in the summer of 2005. Further drilling is anticipated pending results of the channel sample program.
The property lies approximately 85 km northwest of Dawson City and 50 km north of the former Brewery Creek Mine. It lies within the Tintina Gold Belt and overlies a Cretaceous granitic stock of the Tombstone Intrusive Suite. Rocks belonging to the suite host mineralization at Brewery Creek, Fort Knox, True North, Dublin Gulch and other significant properties within the Tintina Gold Belt. Antimony Mountain as an exploration project has similar potential.
War Eagle Mining Company's web site is now available for viewing at www.wareaglemining.com
CUSIP. No. 933901209
War Eagle Mining Company Inc. Bob Faris V P, Corporate Development 1-800-877-1626 or (604) 606-7973 Website: www.wareaglemining.com
NEWS RELEASE TRANSMITTED BY CCNMatthews THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THE FOREGOING.
Copyright (C) 2004, CCNMatthews. All rights reserved.
VANCOUVER, BRITISH COLUMBIA, Oct 20, 2004 (CCNMatthews via COMTEX) -- (CCN Mathews)
War Eagle Mining Company Inc. (TSX Venture Exchange - WAR) War Eagle Mining Company Inc. and Strategic Metals Ltd. report results of a jointly funded, 832 m (2,746 ft) diamond drill program that was recently completed at their Antimony Mountain property in central Yukon.
A total of four holes were drilled at Antimony Mountain to test strong gold, and copper soil geochemical anomalies on the flanks of Mt. Walker, a prominent peak. The holes form a triangle with holes 1 and 2 drilled from two corners and holes 3 and 4 drilled in opposite directions from the third corner. The three corners of the triangle range from 520 to 1000 m (1,716 to 3,300 ft) apart. All holes were drilled nearly perpendicular to an east-west trending extensional fracture set.
The drill program was designed to test for bulk tonnage, intrusive hosted gold mineralization. Three of the four holes (1, 2 and 4) cut 20 to 40 m (66 to 132 ft) intervals that are notably enriched in gold (200 to 300 ppb). Total sulphide content is low, averaging about 2% in gold enriched intervals. Arsenopyrite and chalcopyrite are the most common sulphide minerals, usually occurring on hairline fractures, in 0.2 to 2 cm wide quartz veinlets or in narrow alteration envelopes surrounding the mineralized fractures and veinlets. Gold content generally increases as elevation increases, suggesting that the most favorable target lies higher on the slopes of Mt. Walker, closer to the core of the geochemical anomaly. The next phase of exploration is expected to be systematic channel sampling of outcrops and cliffs around the perimeter of Mt. Walker, starting in the summer of 2005. Further drilling is anticipated pending results of the channel sample program.
The property lies approximately 85 km northwest of Dawson City and 50 km north of the former Brewery Creek Mine. It lies within the Tintina Gold Belt and overlies a Cretaceous granitic stock of the Tombstone Intrusive Suite. Rocks belonging to the suite host mineralization at Brewery Creek, Fort Knox, True North, Dublin Gulch and other significant properties within the Tintina Gold Belt. Antimony Mountain as an exploration project has similar potential.
War Eagle Mining Company's web site is now available for viewing at www.wareaglemining.com
CUSIP. No. 933901209
War Eagle Mining Company Inc. Bob Faris V P, Corporate Development 1-800-877-1626 or (604) 606-7973 Website: www.wareaglemining.com
NEWS RELEASE TRANSMITTED BY CCNMatthews THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THE FOREGOING.
Copyright (C) 2004, CCNMatthews. All rights reserved.
