June 2, 1997
Softrock First In Line For Gold Discovery
Gold assays equal to 3.9 oz/mt on Greenland's Southeast coast were recently announced by the Greenland Geological Survey (GEUS) as noted by J.B. Keith McLean, President of Softrock Petroleums Ltd. Softrock immediately applied for the lands underlying and surrounding this new discovery at Kangerluluk and expects to know sometime later this month if its Application is successful.
The Kangerluluk find is just 15 kilometers away from Softrock's geologically similar Lindenow Property where gold, Ni-Cu-Co are primary targets. An imminent Dighem helicopter - EM/Magnetic survey over parts of Softrocks 100%-owned 260,000 net acres will be followed this summer by a Softrock ground geological survey. Both surveys will be influenced, to some extent, by earlier GEUS ground surveys that generated several worthwhile mineral leads on the Lindenow Property - including 1.3 oz/mt gold at Qutseq Fiord.
Drill Results at Kangerlussuaq
A total of four core holes were recently drilled before drilling operations were suspended, on schedule, May 21, 1997 in full observance of the start of the area's annual 30-day caribou calving season. Two, holes drilled into the same lake-hosted kimberlite prospect, found no kimberlite but revealed fine grained lake sediments that are the probable source of the anomaly.
The other two holes drilled were located to test the extreme Eastern edge of the strong East-West striking 8-km long EM conductor adjacent to where "rusty outcrops" were observed and sampled in March 1997. They were located 400 meters apart and drilled at a 45 degree angle to the South to about130 meters. Both intersected amphibolite hosted, bedded sulfides beginning close to surface and continuing intermittently to depth of 115 meters. The bedded sulfides consist of approximately 30% interstitial sulfides which dip approximately 60 degrees to the North. Maximum true thickness of sulfides observed within each hole was approximately 20 meters and appear continious between the two drill holes. Drilling will resume in the Westem part ofthe 8-km long bedded sulfide conductor.
Assay results obtained today indicate that the sulfides are predominantly pyrrhotite containing generally less than 0. 1% Copper, Zinc or Nickel. Some samples of alteration and mineralization along fractures did reveal gold values or up to 50 times background. Areas of faulting and offset of the bedded sulfides will be tested for possible gold enrichment.
SoftRock trades on the Alberta Stock Exchange under the trading symbol "STZ".
A full text of this release and other desired information may be acquired by contacting E. Denis Gagnon or J.B. Keith McLean locally at (403) 266-2605 or toll free at 1-800-809-3411.