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Gold/Mining/Energy : Pele Mountain

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To: rdww who wrote (235)4/27/2004 12:09:54 PM
From: rdww  Read Replies (1) of 241
 
Pele completes first Golden Eagle drill program

Pele Mountain Resources Inc GEM
Shares issued 43,571,014 Apr 26 close $0.315
Tue 27 Apr 2004 News Release
Mr. Al Shefsky reports
PELE MOUNTAIN COMPLETES PHASE ONE DRILLING AT GOLDEN EAGLE
Pele Mountain's wholly owned subsidiary, Pele Gold, has completed the first
drill program on the Golden Eagle zone at its 100-per-cent-owned Wawa gold
project. Seven NQ-size drill holes were completed to test the near surface
gold potential of a recently uncovered 85-metre-long portion of the Golden
Eagle zone, which remains open at depth and along strike in both
directions. The seven drill holes were spread along 60 metres of the Golden
Eagle zone and tested this portion of the zone to a vertical depth of 25 to
30 metres.
Each drill hole intersected a mineralized shear zone and has been logged,
sawed in half, sampled by a qualified person and the samples have been
submitted for gold assay analysis by an independent Canadian laboratory.
Half of the drill core will be preserved and stored as permanent record of
the drilling. Although Pele is encouraged by the intersection of a
mineralized shear zone in all seven drill holes, readers are advised that
only the assay results will determine whether or not gold is present in the
samples.
The Golden Eagle zone is located in the eastern half of the Wawa gold
property and was uncovered by Pele Gold in a mechanical stripping program
that was announced in the company's press release in Stockwatch of March
23, 2004. Previous sampling by Pele of the Golden Eagle zone was limited to
two bedrock samples collected in 1999 that returned 23.8 grams gold per
tonne from a quartz vein and 0.2 gram of gold per tonne from adjacent wall
rock.
This press release has been reviewed and approved by Dr. Edward Walker,
PGeo, of Petrologic, an independent consultant and qualified person.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 2004 Canjex Publishing Ltd. stockwatch.com
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