Post by Franko10 ™ on Sept 30, 2004 20:00:42 GMT -5
Drilling Results - Devil's Lake Property, La Ronge, Saskatchewan
Business Wire, June 21, 1996
EDMONTON, Alberta--(BUSINESS WIRE)--JUNE 21, 1996--PETRO PLUS INC.(Alberta Stock Exchange: PPV.A ) Petro Plus Inc. has calculated preliminary reserves based on fire assay results from samples of drill core from their 100 percent owned Devil's Lake Property near La Ronge, Saskatchewan, Canada. Visible gold was noted at 15 locations in the 1995 and 1996 drill hole samples.
The estimation of grade and exact tonnage of gold deposits are notoriously difficult, due to the commonly observed pinching and swelling of the zones, and also due to the presence of higher grade shoots within the zone.
Based on a weighted average of the total gold per metre on results from sampling in 12 drill holes and surface sampling, the PIT zone has an inferred potential of 22,600 tonnes at an average grade of 2.06 grams per tonne gold. The grade in the mineralized zone ranges from 1.7 grams per tonne gold over 1.5 meters to 3.44 grams per tonne gold over 4.4 metres. The zone was calculated to a vertical depth of about 65 metres, along a 50 metre strike length. High grade lenses within the mineralized zone grade from 13.8 to 18.65 grams per tonne gold over widths of 0.3 to 0.75 metres.
At the SW-2 area two gold zones were encountered. The upper zone, exposed on surface and intersected in 5 holes returned values from 0.3 to 4.1 grams per tonne gold over 2 metre widths. The lower zone was intersected in 6 holes and returned values from 1 gram per tonne gold over 2.6 metres to 13.8 grams per tonne gold over 2 metres.
A 5 tonne "bulk" sample will be taken from the exposed zones and processed using gravity separation and heavy mineral concentration. This sample will assist in determining a more accurate grade of gold in each zone. Additional drilling is necessary to calculate reserves on SW-2, and confirm sections within each zone, which still remain open at depth and along strike. -0- Note to Editors: The Alberta Stock Exchange has neither approved or disapproved of the information contained herein.
CONTACT: Petro Plus Inc.
Urban Casavant, 306/922-6065
COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group
Business Wire, June 21, 1996
EDMONTON, Alberta--(BUSINESS WIRE)--JUNE 21, 1996--PETRO PLUS INC.(Alberta Stock Exchange: PPV.A ) Petro Plus Inc. has calculated preliminary reserves based on fire assay results from samples of drill core from their 100 percent owned Devil's Lake Property near La Ronge, Saskatchewan, Canada. Visible gold was noted at 15 locations in the 1995 and 1996 drill hole samples.
The estimation of grade and exact tonnage of gold deposits are notoriously difficult, due to the commonly observed pinching and swelling of the zones, and also due to the presence of higher grade shoots within the zone.
Based on a weighted average of the total gold per metre on results from sampling in 12 drill holes and surface sampling, the PIT zone has an inferred potential of 22,600 tonnes at an average grade of 2.06 grams per tonne gold. The grade in the mineralized zone ranges from 1.7 grams per tonne gold over 1.5 meters to 3.44 grams per tonne gold over 4.4 metres. The zone was calculated to a vertical depth of about 65 metres, along a 50 metre strike length. High grade lenses within the mineralized zone grade from 13.8 to 18.65 grams per tonne gold over widths of 0.3 to 0.75 metres.
At the SW-2 area two gold zones were encountered. The upper zone, exposed on surface and intersected in 5 holes returned values from 0.3 to 4.1 grams per tonne gold over 2 metre widths. The lower zone was intersected in 6 holes and returned values from 1 gram per tonne gold over 2.6 metres to 13.8 grams per tonne gold over 2 metres.
A 5 tonne "bulk" sample will be taken from the exposed zones and processed using gravity separation and heavy mineral concentration. This sample will assist in determining a more accurate grade of gold in each zone. Additional drilling is necessary to calculate reserves on SW-2, and confirm sections within each zone, which still remain open at depth and along strike. -0- Note to Editors: The Alberta Stock Exchange has neither approved or disapproved of the information contained herein.
CONTACT: Petro Plus Inc.
Urban Casavant, 306/922-6065
COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group