Medinah
Minerals, Inc. - News Release
Lipangue
Update - A.C.A. Howe International Limited
Lake
Elsinore, CA., March 6, 2001 . . . Management of Medinah
Minerals, Inc. announces that A.C.A. Howe International,
Ltd. has presented to Medinah Minerals, Inc., its latest
updated report on the Lipangue gold copper property.
"The
project area is located in central Chile, approximately
30 kilometres northwest of Santiago in the coast range mountains
at an elevation of approximately 2,000 metres. The property
can be easily reached from Santiago along a paved highway
to the town of Lampa and then along approximately 13 kilometres
of 4 wheel drive roads which climb to an elevation of about
2,000 metres to the Altos de Lipangue plateau. The Lipangue
property covers the majority of the plateau. Dirt roads
pass through the middle of both property areas, and from
here most other parts of the property can be reached in
a truck or by foot along dirt roads and trails."
"Geochemical
analysis by Medinah on the drill hole samples indicates
that the breccia below the oxidation level, is anomalously
mineralized over most of its entire width, with significant
weighted averages of gold, silver, and copper as shown below:"
|
Drill Hole |
Analytical Results |
Drilled Width |
L99-03
and |
1.72g Au/t, 10.07g Ag/t, and 0.40% Cu
0.37g Au/t, 2.88 g Ag/t, and 0.04% Cu |
84 meters
36 meters |
L99-05
and |
0.23g Au/t, 1.35g Ag/t, and 0.07% Cu
0.47g Au/t, 2.11g Ag/t, and 0.10% Cu |
40 meters
24 meters |
|
L99-06 |
0.60g Au/t, 13.7g Ag/t, and 0.39% Cu |
154 meters |
|
L99-07 |
0.49g Au/t, 9.68g Ag/t, and 0.31% Cu |
124 meters |
L99-08
including
and |
3.83g Au/t, 27.2g Ag/t, and 0.40% Cu
15.61g Au/t, 99.56g Ag/t, and 0.90% Cu
14.76g Au/t, 56.9g Ag/t, and 1.01% Cu |
56 meters
3 meters
9 meters |
|
L00-09 |
5.93g Au/t, 23.6g Ag/t, and 0.81% Cu |
6 meters |
L00-11
and |
0.23g Au/t, 3.47g Ag/t, and 0.17% Cu
0.22g Au/t, 0.66g Ag/t, and 0.06% Cu |
12 meters
9 meters |
L00-12
and |
0.33g Au/t, 3.06g Ag/t, and 0.07% Cu
0.56g Au/t, 2.33g Ag/t, and 0.14% Cu |
11 meters
28 meters |
|
L00-13 |
0.60g Au/t, 2.03g Ag/t, and 0.11% Cu |
105 meters |
L00-14
including
and |
0.62g Au/t, 4.77g Ag/t, and 0.36% Cu
1.32g Au/t, 12.64g Ag/t, and 0.94% Cu
1.58g Au/t, 12.28g Ag/t, and 0.93% Cu |
39 meters
7 meters
5 meters |
|
L00-15 |
0.25g Au/t, 2.10g Ag/t, and 0.10% Cu |
93 meters |
|
L0016 |
1.19g Au/t, 6.47g Ag/t, and 0.36% Cu |
27 meters |
L00-18
including
and |
0.67g Au/t, 5.02g Ag/t, and 0.32% Cu
0.85g Au/t, 22.62g Ag/t, and 1.53% Cu
1.67g Au/t, 14.23g Ag/t, and 0.71% Cu |
38 meters
6 meters
3 meters |
"Howe
feels confident that the analytical values reported by Medinah
from their recent drilling campaign over the Lipangue Property
gives a general representation of the values that can be
expected from this prospect. Future drill programs should
be preceded by early stage mineralogical testing to determine
the general characteristics of the gold grains in the mineralized
domains which will assist in determining the optimum sampling
scheme for future exploration programs."
"Medinahs
Lipangue property contains the Lipangue polymetallic breccia
pipe which represents a good target to host underground,
bulk mineable, gold-copper-silver mineralization. This target
remains open to the east, and at deeper levels to the west,
and down plunge, and could become much larger in extent
as Medinah traces it in these directions. The breccia is
still in the early stages of drill definition and Medinah
believes that with a minimal exploration program the potential
size of this target can be substantially increased. Other
parts of the Lipangue Property have only been reviewed on
a preliminary basis, or not at all, and these should be
further explored, since the potential exists for additional
breccia style or copper porphyry mineralization."
"Medinahs
increased land position is secure, in that it covers the
strike and down dip extent of all of the defined mineralized
zone and leaves sufficient ground to define new targets
along strike or on other parts of the property."
RECOMMENDATIONS
"The
Lipangue Property area should continue to be evaluated for
large tonnage, bulk mineable, breccia hosted gold-copper
+/-silver and/or copper porphyry style mineralization, according
to the suggested two phase, results driven exploration program.
The total approximate cost for Phases 1 (US$415,000) and
II (US$605,000) is US$1,020,000."
Note:
The entire text of the A.C.A. Howe report will be available
shortly on the Companys Website.
-
30 -
For
further investor information contact Investor Relations
at (604) 903-2981 or visit us online at
www.Medinah-Minerals.com
Note:
This news release may contain certain "forward-looking
statements" within the meaning of the United States
Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, included in this
release, including, without limitation, statements regarding
potential mineralization and reserves, exploration results,
and future plans and objectives of Medinah Energy, Inc.
are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate, and actual results and future
results could differ materially from those anticipated in
such statements, Important factors that could cause actual
results to differ materially from the Company’s expectations
are disclosed under the heading "Risk Factors"
and elsewhere in documents filed from time to time with
the United States Securities and Exchange Commission and
other regulatory authorities.
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