NEWS ROUNDUP — Prairie Creek drilling

Step-out drilling at the Prairie Creek project in the Northwest Territories continues to return massive sulphide zinc-lead-silver mineralization.

San Andreas Resources (VSE), currently earning a 60% interest from Nanisivik Mines, expects to acquire 100% by June 1 by paying US$1.25 million cash plus US$2 million in a debenture convertible into common stock at a price of $3.50 per share.

PC-93-25, a 30-metre step-out to the east, returned a 4.1-metre intersection grading 7.14% lead, 6.92% zinc and 82.9 grams silver per tonne. Hole PC-93-27, about 90 metres south of PC-93-25, intersected 18.2 metres grading 8.55% lead, 14.33% zinc and 65.4 grams silver.

PC-93-26, an infill hole, intersected 6.6 metres grading 13.69% lead, 20.39% zinc and 147.3 grams silver.

Drilling is continuing on the flat-lying zone of stratabound mineralization which, at year-end, contained preliminary reserves of about 2.9 million tonnes grading 13.35% lead, 15.61% zinc and 211 grams silver.