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ARQ's interests in Mexico are probably going to remain on the back burner as long as Anooraq focuses on PGMs in the Bushveld Complex. Both Farallon and Amarc are HDI companies still very engaged South of the Border.

 

Anooraq Resource Corporation              [ARQ:TSX-V]   ARQ

Anooraq Resources Logo
With over $1 million in its treasury, Anooraq Resources Corp. is undertaking an extensive search for a new mineral development  project with the potential to dramatically increase shareholder value. The Company’s acquisition team is focused on projects with large-scale mine potential. NOTE: As of 19Oct99 ARQ has taken steps to acquire a major PGM property in the Bushveld Complex in South Africa.   
Latest Press Releases

Santa Rosa Claim (Dropped it 6Mar99) 120 km W of Mexico D.F. from Minera Las Fragua S.A. The Santa Rosa claim surrounds the Tizapa massive sulfide deposit of Dowa/Peņoles/Sumitomo. Located N of Farallon's Campo Morado area, the Santa Rosa covers a 35km strike length of Teloloapan Subterrane. ARQ closed a $3.4M financing to fund this acquisition and exploration. Final prospectus was filed on 20Feb97 and receipts are in hand from provinces of BC and Alberta. Major field examination has commenced including stream sediments and prospect mapping. Two target areas identified to date in areas of old prospects. Robert G. Hunter, Chairman of Anooraq announces that the Company has completed the compilation and analysis of the results of the exploration work done on the Santa Rosa Concession located 75 miles southwest of Mexico City. While the work produced some anomalous results, they were of insufficient quality and quantity to warrant pursuing the project. The Company has informed the owners of its intention to discontinue with the project and is awaiting final acknowledgement from the Federal Mining Department in Mexico.

Press Release 5Mar99
CSW 27Feb97
E&MJ November, 1996
NMN 10/28/96
GCN #174 9Sep96
CSW 6Sep96
GCN #172 5Sep96
CSW 16Aug96

La Dicha Property, Chilpancingo, Guerrero. The Company acquired an option to purchase a 100% interest in the 738 hectare property covers La Dicha deposit which has all the characteristics of a large scale, volcanogenic massive sulphide ("VMS") deposit similar to those being developed at Campo Morado in northern Guerrero State by Farallon Resources Ltd. and San Nicolas in Zacatecas State by a Western Copper Holdings Limited/Teck Corp./Luisman, S.A. de C.V. joint venture (for a copy of the map please call 1-800-667-2114). Anooraq can purchase a 100% interest in the property by making staged cash and share payments to the Mexican property vendor totaling US$530,000 and 350,000 common shares over a four year period starting 1Q98.

La Dicha property is road accessible and covers a Cu-Zn-Ag VMS deposit that is developed at the contact of felsic volcanic rocks with overlying sediments. Mineralization consists of massive to near massive pyrite, pyrrhotite, chalcopyrite and sphalerite. The N-S trending, W-dipping massive sulphide horizon has been traced continuously over a strike length of 1.2 km  and, on the basis of scattered outcrops, probably extends to more than 4.5 km  in length. Where exposed, true width of the massive sulphide horizon varies from 45 m to 2 m. The northern portion of La Dicha deposit has current approximate dimensions of 1,200 m long by 20 m thick which based on only 100 m of depth is consistent with a 10 million tonne deposit. At this stage the depth dimension of the deposit is unknown and therefore the entire deposit may be very much larger.

Anooraq has commenced an exploration program focused on the rapid preparation of drill targets to test the economic potential of the large polymetallic system at La Dicha.

LAMR May, 1998
Press Release 14Apr98