Jonpol, partners report 4 drills at Garrison bet

Four drills are at work on property in Garrison Twp. in northern Ontario where Jonpol Explorations (TSE) and two other companies have reported further encouraging results.

Jonpol’s joint-venture partners at the property, located near Kirkland Lake, are T & H Resources (TSE) and Coastoro Resources (VSE). Among the better results:

Grade Hole (ft) (oz/t) N-88-47 50 0.34

(incl) 15 0.61 N-88-54 14 0.24

(incl) 7 0.47 N-88-55 12 0.43 N-88-56 2 0.14 N-88-58 2 0.14

The company reports a strike length in excess of 1,000 ft, open at both ends and depth. (There has been no drilling below 900 ft.) A company spokesman said it is too early to estimate reserve tonnage. A decline to 800 ft (vertical), to permit underground drilling, is in the planning stages.

In other news, Jonpol and T & H President J. A. Pollack reports T & H has agreed in principle to arrange a pooled interest merger with Coastoro on the basis of one T & H share for two Coastoro shares. The deal is subject to regulatory approval.

Also, T & H recently purchased 200,000 shares of Newfield Mines of Toronto, while Jonpol bought 550,000 shares, which Pollack reports represents control of Newfield.