EXPLORATION 1998 — Hemisphere to drill Sunrise Lake — Formal agreement with Aber sets stage for work program

Eleven years after discovering a silver-lead-zinc deposit in the Beaulieu River greenstone belt of Canada’s Northwest Territories, partners Hemisphere Development (HSD-V) and Aber Resources (ABZ-T) have signed a joint-venture agreement to explore the prospect.

The companies, which previously explored the Sunrise Lake project under an informal arrangement, plan to launch a 2-phase program this year. The first phase will entail drilling a series of holes, spaced 20 to 40 metres apart.

This portion of the program is designed to upgrade the previously outlined resource of 2.1 million tonnes grading 0.1% copper, 4.2% lead and 8.9% zinc, plus 404.5 grams silver and 0.96 gram gold per tonne.

This resource, based on 77 previously drilled holes totalling 20,321 metres, exists in a north-south-striking, east-dipping, pyrite-sphalerite-galena lens measuring 2-to-16-metres thick, 120 metres along strike and 540 metres downdip. The deposit remains open at depth.

The first phase also calls for a sequence of 40-metre stepouts south of the deposit, where a previous hole returned 6.3 metres grading 6.2% combined lead-zinc, plus 52 grams silver.

The second-phase program (contingent on results from the previous phase) will test the down-plunge extension of the main lens and evaluate other sulphide intersections on the 7,409-ha property. Previous drilling is reported to have shown evidence of a second possible massive-sulphide lens below the main lens, as evidenced by a 6-metre interval of 9.6% combined lead-zinc.

The deposit is situated 115 km northeast of Yellowknife.

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