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| | Wed Mar 24, 2004
Muskox Mineral Corporation's Drilling Success Continues On The Yellow Jacket Gold Property, Atlin, British Columbia
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| | Muskox Mineral Corporation's drilling success continues on the Yellow Jacket gold property, Atlin, British Columbia
* Drill hole YJ-04-01 intersects 8.2 ft of 0.76 oz/ton
* 3.28 ft interval of 1.87oz/ton encountered
CALGARY, ALBERTA - Muskox Minerals Corp ('Muskox') (TSX Venture: MSK; Frankfurt: MQS.GR) is pleased to announce analytical results from its third diamond drill hole on its Yellow Jacket Project, on Pine Creek in northwestern British Columbia. The third hole YJ-04-01 was drilled to test a section of the Pine Creek Fault zone some 50 metres (~164 ft) east of hole YJ-03-01. The analytical results confirm the lateral continuance of gold mineralization within the bedrocks. The location and details of the hole are:
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Hole # Total depth (m) Total depth (ft) Dip Azimuth
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YJ-04-01 96.9 318' -60 º 340º
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The two most significant gold-bearing intervals encountered in drill hole YJ-04-01 are as follows:
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From To Intersection Intersection Au Au
(m) (m) (m) (ft) gram/tonne oz/ton
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49.7 50.2 0.5 1.64 4.72 0.14
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92.0* 94.5* 2.50 8.20 26.21 0.76
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*includes
92.0 93.0 1.00 3.28 64.28 1.87
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*includes
92.5 93.0 0.50 1.64 128.15 3.74
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Observations
The three holes reported from the Yellow Jacket property have so far only tested a small sector of the Pine Creek fault zone and have confirmed the potentials of the mineralization along the zone. The results of drill hole YJ-04-01 again iterate the "nugget effect" anticipated in these deposits. No cut-off grades were applied, as there are insufficient data to justify establishment of a cut-off grade at this early exploration stage.
Drill hole YJ-04-01 was collared 60 metres southeast of hole YJ-03-01 and was designed to test for the local continuity of the gold-mineralized fault zone. This continuity was clearly demonstrated.
The President of Muskox Minerals, Dr. Roger Morton observed . . . "Our continuing investigation of the Yellow Jacket zone at Pine Creek is bringing highly encouraging data on this mineralized system. With our newly announced closing of the $2 million private placement the exploration program can be put into high gear."
Publication of forthcoming drill results
The subsequent drill results from the ongoing campaign will be announced in a format of groups of holes per release. This will ensure a balanced flow of information allowing investors and analysts the opportunity to properly assess the significance of the data. The company will also post a map of the drill holes on its website to help the readers understand the ongoing program.
Background
The Atlin Project now comprises a $2 million exploration program seeking gold within geologic environments similar to those hosting rich gold deposits in the Motherlode district of California and in the prolific Bralorne Mine area of Southern British Columbia. Gold in such areas is associated with listwanitic (carbonate-quartz-mariposite) alteration of ultramafic ophiolitic rocks. These ultramafic rocks are often serpentinites. The association of listwanitic rocks with the rich placer gold deposits of the Atlin area was the reason for exploration of the area in the 1980's.
During this earlier program, subsurface gold mineralization was located in association with a wide, 070º -trending fault zone, which underlies a rich placer gold deposit. The fault zone (the Pine Creek Fault) was drill-tested on a cursory scale along several kilometers. A review and statistical analysis of Homestake's data identified a section of this fault zone with higher gold potentials. The previous Homestake drilling investigated gold in the fault-zone from near-surface to depths of 100 meters and along some 230 meters of strike.
Muskox's drilling is confirming the gold potential of this particular portion of the Pine Creek Fault, referred to as the "Main Zone". Gold is hosted across the 50 meter width of the fault zone in association with the listwanitic alteration of bedrocks. Drilling is continuing on the fault zone and further analytical results will be published in the coming weeks
Qualified Person/Analytical Resources
Dr. Roger Morton, P.Geol. (Alberta), a director and officer of the Corporation, is currently the Company's Qualified Person responsible for monitoring the supervision and quality control of the exploration completed on the Atlin project.
The diamond drilling was conducted using NQ diameter coring. All core are being analyzed at Loring Laboratories of Calgary, Alberta.
ON BEHALF OF THE BOARD
"Roger Morton"
Dr. ROGER D. MORTON
CEO, PRESIDENT
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Muskox Minerals Corp. is a Tier One Company listed on the TSX Venture Exchange (symbol: MSK-V). The Company is exploring for Gold in the Atlin area of British Columbia, Canada and is joint ventured with Anglo American Exploration (Canada) Ltd. on its' Copper-Nickel-Palladium and Platinum project on the Muskox Layered Intrusion in Nunavut, Arctic Canada.
For further information, contact Mr. Tom Corcoran at:
Phone: 1 (877) 339-3344
Email: info@muskoxminerals.com
Website: http://www.muskoxminerals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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