iShares Growth Portfolio... (TG:MAGR)
Historical Stock Chart
From Dec 2019 to Dec 2024
Magnum discovers new copper zone
TRADING SYMBOL (OTCBB: MAGR)
TORONTO, Nov. 18 /PRNewswire-FirstCall/ -- Mr. John Yee, Chairman - Magnum d'Or
Resources, has recently returned from a field trip to Mongolia and is pleased to
report that the Company has today received the initial summary of the three week
geological and geophysical field work program completed this month by Rio
Minerals, the contractor. The work was carried out on the mineral concessions
held in Mongolia by the Company under option-to-purchase agreements.
Two mineral discovery areas are now confirmed and a new discovery has been made.
The areas are identified as Magnetite Hill, the Gold - Copper Zone, and the
(new) Copper Zone.
Diamond drilling targets have been confirmed.
A magnetic anomaly 600 meters long by 200 meters wide has been confirmed on
Magnetite Hill (open at both ends along strike). An IP survey was also completed
over this anomaly. The anomaly is hosted by silicified limestone characteristic
of skarn deposits but is unique by the presence of a network of thin
quartz-carbonate veining (as quoted in the summary report). "The magnetic
anomaly is evidenced on surface by the presence of outcrop/subcrop exposures of
strongly silicified and veined limestones. The veining is typically narrow
producing an irregular web-like network of chalcedonic and vuggy epithermal
style quartz veining. This veining also has a carbonate component." Surface
sampling results and assays are pending.
On the Gold - Copper Zone (the location of sample 181925 from previous work that
showed 0.14 % copper and 213 ppb in gold) surface geological mapping and
confirmation sampling was completed. Results are pending.
A new discovery of copper mineralization was made on October 26, 2003. This
mineralization occurs in an area of epidote-potassic altered fine-grained
andesites. Geological mapping has found similar volcanic rocks in an area of
approximately 0.5 by 1.0 kilometers surrounding the mineral showings. A more
complete summary will be reported as the Company receives the details.
All sampling results from all the Zones will be reported as they are received.
A number of statements contained in this press release are forward- looking
statements that are made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve a number of risks and uncertainties including but not limited to:
competitive market conditions, successful integration of acquisitions, and the
ability to secure additional sources of financing. The actual results that
Magnum may achieve could differ materially from any forward-looking statements
due to such risks and uncertainties.
MAGNUM d'Or RESOURCES INC.
http://www.magnumexploration.com/
DATASOURCE: Magnum d'Or Resources Inc.
CONTACT: Reno J. Calabrigo, President, Telephone: (416) 386-0044, Email: