Exploration At Dobbin Property Seeks To Extend Platinum/Palladium Discovery
Added August 11th, 1997 – Vancouver, British Columbia
Larry W. Reaugh, President and Chief Executive Officer of Verdstone Gold Corporation (50%) and Molycor Gold Corporation (50%) (“the Companies”), is pleased to report on the continuing exploration at the companies 100% owned Dobbin Property, located 27 kilometres west of Kelowna, B.C. on the Southwest slope of WhiteRock Mountain near Tadpole Lake.
The initial work has confirmed copper-platinum-palladium “porphyry” mineralization within a 200 x 300 metre area known as the “central anomaly”. Platinum/palladium values are associated with chalcopyrite, bornite and/or magnetite. The mineralization process is a result of magmatic differentiation, i.e. Cu and S (+ platinum group elements) are enriched in the melt of a fractionating, alkalic mafic magma until conditions were suitable for crystallization. The slightly more “evolved”melt was responsible for the formation of hornblende (after pyroxene), biotite, chlorite, calcite and K-spar with which Cu bearing mineralization is associated with.
DDH97-11 collared 100 metres SW of the central showings, intersected pyroxenite and hornblende gabbro mineralization from 0-200 metres (0-660 feet). Assays for this hole will be available in about 1 week. Geochemical and geophysical surveys suggest the central anomaly extends at least 400 metres (1,300 feet)south of the central showings. There is also a significant anomaly 700 metres (2,300 feet) SW of the centra l showings. Grid pattern drilling is continuing to a depth of 230 metres (755 feet).
Split core is assayed at Chemex Laboratories in Vancouver. Check assays by Bonder Clegg Laboratories have confirmed copper, platinum and palladium values on a set of samples selected to include the range of values reported in previous press releases.
ON BEHALF OF THE BOARDS
Larry W. Reaugh,
President & Chief Executive Officer