Geological report to be prepared on Mac property
Spokane Resources Ltd SKN
Shares issued 18,389,720 Apr 22 close $0.46
Wed 23 Apr 97 News Release
Mr G. Arnold Armstrong reports
Prior to the company's recent drilling program on the Mac property, the
company had received a geostatistical resource estimate from Giroux
Consultants in February 1997 setting forth that at a cutoff grade of .040
Mo, the tonnage classified as indicated was 52,420,000 tonnes and the
tonnage classified as inferred was 47,520,000 tonnes for approximately 100
million tonnes at an equivalent average grade of 0.12 MoS2. The company has
now retained Giroux Consultants to begin work on a resource estimation
update with greater detailed geological parameters using the recently
acquired drilling data.
In addition, the company will be retaining Fluor Daniel Wright to provide a
critical path and cost estimate for an engineering scoping study,
preliminary to commencing feasibility studies on the property.
Fox Geological Services Ltd is presently preparing a geological report in a
suitable format and to the level of disclosure required by the Ontario
Securities Commission and TSE.
On completion of the reports from Fox Geological Services Ltd, Giroux
Consultants Ltd and Fluor Daniel Wright, the company will be making
application for listing on the TSE.
The report from Fox Geological Services will include a recommendation for
additional work on the Mac property particularly on the Peak zone where
preliminary drilling indicated the presence of another large porphyry
system.
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