BHP and Glencairn to drill Blue Mtn.

Based in Vancouver, BHP-Utah is a subsidiary of BHP-Utah Minerals International which in turn is wholly-owned by Broken Hill Proprietary of Australia.

The 9-hole program is designed to test a number of geophysical anomalies which BHP Utah outlined on the 40-claim property in previous phases.

The anomalies enhance Glencairn’s original theory that two of the known mineral showings on the property, the Kinika vein and the Jumbo vein, are stratagraphically connected. They are located 7,000 ft apart.

Previous work on the property dates back to the 1920s, when shafts were sunk on the Kinika and Jumbo veins. Drifting on the Kinika shaft during the 1930s reported a 15-ft width grading 0.16 oz gold per ton.

Diamond drilling in the shaft area during the 1970s returned a number of gold values, including 4.5 ft of 0.30 oz gold and 6.2 ft of grade 0.145 oz. No drilling has ever been done in the area of the Jumbo shaft.

Under an agreement, BHP can earn a 55% property interest by spending $150,000. When the program is completed BHP will have spent about $190,000 according to Glencairn which can maintain its 45% interest by spending $17,500.

Glencairn recently raised $19,400 from the sale of 29,000 flow-through shares at 69 cents each.

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