Positive Results From Fieldwork at Richardson Lake, Ontario, Gold Prospect
January 16, 2004 :
Tribute Minerals Corp (TSX: TBM) and Continuum Resources Inc. (TSX: CNU) today announce results from their late fall surface geological mapping and geochemical surveys on their Richardson Lake and adjoining McIntyre properties, located approximately 100 kilometers east of Red Lake, in northern Ontario. The 1,200 hectare property, located in the Birch-Uchi greenstone belt, hosts numerous, historically-discovered gold occurrences, and is situated adjacent to the past-producing Argosy mine. The Argosy mine produced over 100,000 ounces of gold, at an average grade of 0.37 ounces per ton, before closing in the 1950's and is the current target of renewed exploration drilling. The recently-completed program at Richardson Lake has resulted in the definition of numerous drill targets, which will be tested by drilling planned to begin in late February, 2004.
Seven separate targets have been defined by the mapping, channel sampling, data compilation, and MMI soil geochemistry:
1. The north shore of Richardson Lake, where earlier drilling intersected gold grades of up to 14.0 grams per ton over a 2.3 meter core interval;
2. The northern extension of the Argosy Mine veins, which are exposed on the Richardson Lake property, and from which grab samples have assayed up to 41 grams per ton gold;
3. The Argosy East zone, located just 50 meters east of the Argosy mine shaft, where grab samples of up to 14 grams per ton gold have been collected from quartz veins hosted by a felsic intrusion;
4. The Burnt Lake zone, where historical drilling intersected values of up to 23 grams per ton gold over a 1.25 meter core interval;
5. The McIntyre Bay zone, where grab samples grading up to 155 grams per ton of gold were collected from quartz veins in the vicinity of historic pits and small excavations (historic drilling on the McIntyre prospect included one high grade intercept of 0.54 ounces per ton gold over a core length of 9.2 meters);
6. The Penson Lake zone, from which grab samples grading up to 4.3 grams per ton gold were collected from sulphidized iron formation;
7. The High Grade Island zone, in northern Birch Lake, where grab samples containing coarse visible gold, and grading up to 213 grams per ton gold, were collected from a 100 meter exposed zone of quartz veining.
Field work was carried out by Garry Smith, P.Geo., and was supervised by Lawrence Dick, Ph.D., P.Geo., both Qualified Persons under the guidelines set forth by National Instrument 43-101F.
On Behalf of the Board of Directors,
Ian A. Brodie-Brown President & C.E.O.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com
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release.
