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OLYMPUS ANNOUNCES FURTHER DRILL RESULTS
FROM PHUOC SON GOLD PROJECT
Olympus Pacific Minerals Inc. ("the Company") is pleased to announce further positive results from confirmation drilling in the Bai Dat and Bai Go sectors of the Phuoc Son gold project. The property lies southwest of Danang in central Vietnam.
Ten confirmation drill holes have been drilled within the Bai Go and Bai Dat sectors, which lie about
one km apart within the 2.5 km long Dak Sa shear structure at the SW end of the Phuoc Son property. The confirmation drilling has been designed to reduce the average drillhole spacing and improve grade interpolation and structural definition.
Selected gold and silver assay intercepts from these holes are shown in the table below:
PHUOC SON GOLD PROJECT Bai Dat & Bai Go Confirmation Drilling Results
Mine Block
DRILLHOLE ID
From (m)
To (m)
Width
Au
Ag
m
ft
g/t
oz per short ton
g/t
oz per short ton
Bai Dat Zone
Bai Dat
DSDH-052
93.74
97.45
3.71
12.17
60.11
1.75
103.07
3.01
including:
93.74
94.69
0.95
3.12
52.13
1.52
10.00
0.29
94.69
95.22
0.53
1.74
65.37
1.91
333.00
9.71
95.22
95.65
0.43
1.41
197.55
5.76
254.00
7.41
95.65
96.32
0.67
2.20
53.50
1.56
120.00
3.50
Bai Dat
DSDH-059
101.05
102.11
1.06
3.48
8.70
0.25
3.00
0.09
Bai Dat
DSDH-060
102.60
103.43
0.83
2.72
66.46
1.94
33.00
0.96
Bai Dat
DSDH-090
125.20
127.66
2.46
8.07
21.20
0.62
25.46
0.74
Bai Dat
DSDH-091
160.06
162.76
2.70
8.86
6.94
0.20
74.33
2.17
Bai Dat
DSDH-092
168.06
169.30
1.24
4.07
2.86
0.08
2.45
0.07
Bai Dat
DSDH-097
101.90
103.00
1.10
3.61
8.46
0.25
9.82
0.29
Bai Dat
DSDH-098
102.20
104.69
2.49
8.17
73.64
2.15
105.72
3.08
including:
102.20
103.77
1.57
5.15
114.12
3.33
155.00
4.52
Bai Dat
DSDH-099
134.70
135.85
1.15
3.77
48.42
1.41
63.10
1.84
Bai Dat
DSDH-100
123.81
127.37
3.56
11.68
23.09
0.67
21.16
0.62
including:
125.79
126.10
0.31
1.02
68.57
2.00
10.80
0.32
126.70
127.37
0.67
2.20
48.87
1.43
69.50
2.03
Bai Go Zone
Bai Go
DSDH-093
91.37
92.81
1.44
4.72
5.61
0.16
1.20
0.04
Bai Go
DSDH-093
135.00
136.00
1.00
3.28
6.84
0.20
41.40
1.21
Bai Go
DSDH-093
137.22
138.20
0.98
3.22
1.97
0.06
0.80
0.02
Bai Go
DSDH-094
128.85
143.82
14.97
49.12
12.12
0.35
52.15
1.52
including:
128.85
131.00
2.15
7.05
31.68
0.92
86.94
2.54
139.00
142.45
3.45
11.32
21.19
0.62
33.99
0.99
142.70
143.82
1.12
3.67
17.96
0.52
5.47
0.16
Bai Go
DSDH-095
127.50
128.10
0.60
1.97
6.66
0.19
0.00
0.00
Bai Go
DSDH-096
165.90
167.00
1.10
3.61
7.26
0.21
2.70
0.08
This confirmation drilling has been conducted preparatory to proposed underground mine development and pilot-scale gold production. These results confirm the average gold grade and thickness of mineralization. The pilot-scale development strategy has been adopted to confirm the forecast very high (95-97%) metallurgical recovery of gold and to assess drift and fill mining in the prevailing underground conditions.
Of sixteen prospects that are being actively explored within the Phuoc Son property, Bai Dat and Bai Go are by far the most advanced. During the balance of the 2003 field season, further drilling at Bai Dat and Bai Go will be coordinated with on-going drilling requirements at other high-priority prospects, including the promising gold-skarn zones at Khe Rin and Khe Do.
Step-out drilling to determine the overall extent of mineralization within the Dak Sa shear structure will include the Bai Dat and Bai Go strike projections. Drilling scheduled for the second quarter of 2003 will commence in the blocks immediately adjacent to Bai Dat.
Further results will be released as they become available.
On behalf of the Board ofOLYMPUS PACIFIC MINERALS INC."Arthur T. Fisher"Arthur T. Fisher
President
CONTACT INFORMATION:
Arthur T. Fisher, PresidentTelephone:
(604) 669-1580 Toll-free: 1-888 - 902-5522
Facsimile:
(604) 681-0269
e-mail:
info@oym.net
PLEASE VISIT OUR WEB SITE AT WWW.OYM.NET
This news release may contain forward-looking statements considered genuine by the author and based upon the author's experience and knowledge. However, forces of which the author may have little or no ability to affect will ultimately determine the outcome. Any forward-looking statements should not be considered guarantees of results.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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