| | | June 09, 2004
MBMI Drill Program Extends High Grade Gold Zone
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| | MBMI RESOURCES INC. (MBR-TSXV) "MBMI" is pleased to report additional assay results from a diamond drill program completed on the Company's McMillan Gold Mine project located about 75 km south- west of Sudbury, Ontario. The first phase program tested for extensions of the gold mineralization and structure on strike from areas previously mined. The program has extended the zone for 130 meters on strike to the east, and 20 meters on strike to the west for a total strike length of over 400 meters. The zone remains open on strike and at depth below the old workings (265 meters).
The best result announced in the Company's May 12 news release was 7.91g/t (0.23oz) gold over 10.85 meters in hole MM-3-04. Seven holes totaling 1077 meters were drilled. Results from Holes MM-1-04, and MM-1A-04 reported here for the first time contain 15.46 g/t (0.45oz)over 0.2 meters, and 13.92 g/t (0.40oz) over 0.52 meters. Both holes had to be abandoned within the target zone at 19 meters due to poor ground conditions. Complete results are tabulated below.
| Hole No. |
Interval (meters) |
Intersection (meters) |
Au (g/ton) |
|
Oz/ton |
| MM-1-04 |
3.13-3.33 |
0.2 |
15.46 |
0.45 |
|
9.15-9.67 |
0.52 |
13.92 |
0.4 |
|
16.58-16.77 |
0.19 |
1.58 |
0.04 |
|
17.09-17.39 |
0.3 |
3.74 |
0.1 |
| MM-1A-04 |
9.63-9.83 |
0.2 |
3.57 |
0.1 |
|
17.84-18.26 |
0.42 |
4.66 |
0.13 |
| *MM-1B-04 |
7.90-8.40 |
0.5 |
2.66 |
0.07 |
|
9.90-14.55 |
4.65 |
11.21 |
0.33 |
| Including |
13.75-14.05 |
0.3 |
94.77 |
2.76 |
| *MM-2-04 |
113.30-118.30 |
5 |
9.89 |
0.28 |
|
137.20-139.30 |
2.1 |
5.79 |
0.17 |
| *MM-3-04 |
170.60-171.25 |
0.65 |
6.03 |
0.18 |
|
179.30-179.65 |
0.35 |
8.81 |
0.25 |
|
182.75-193.60 |
10.85 |
7.91 |
0.23 |
| Including |
182.75-184.25 |
1.5 |
26.97 |
0.77 |
| Including |
189.00-190.00 |
1 |
17.11 |
0.49 |
| Including |
192.50-193.60 |
1.1 |
23.89 |
0.69 |
| MM-4-04 |
No significant |
assays |
| *MM-5-04 |
144.90-148.40 |
3.5 |
0.3 |
0.1 |
Assays by Swastika Laboratories Ltd., Swastika, Ontario
* indicates previously reported results
Holes MM-1-04, and Holes MM-1A-04 were drilled into the top of the C Zone and immediately to the west of the old workings and intersected a representative section of this vein. The C Zone was the main area of production in the 1930s operation of the mine.
The McMillan Gold Mine is a former gold producer that was developed on several levels to approximately 875 feet. It provides an excellent opportunity to expand an area of known gold mineralization and past production. An extensive follow up program is being planned for the property.
David Beilhartz, P. Geo., is MBMI's Qualified Person as defined by National Instrument 43--101.
MBMI is a Canadian based mining exploration company focused on the acquisition, exploration and development of mineral properties, and holds the rights to three Canadian projects: the Squall Lake, Manitoba gold project; the Copper Prince gold, and nickel-copper-pgm property in Sudbury, Ontario; and the McMillan gold mine property in Espanola, Ontario.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
For further information, contact:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. |
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| | You can view the Next News Releases item: Mon Jun 21, 2004, MBMI Reports Summary of Financial Results For Year-End Jan 31 2004
You can view the Previous News Releases item: Wed May 12, 2004, Drill Program Returns 7.91 G/T Gold Over 10.85 Meters
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