« Back to news list...

News Release
July 10, 2000

Drilling under Main Deposit Outlines Significant Expansion of Mineralized Zones at Mt. Kare Gold Project.

• Deep drill hole intersects 312 meter interval grading 0.95 g/t gold eq .
• Next 2,500 foot phase of drilling program to commence July 10 th .

Madison Enterprises Corp. ("Madison") is pleased to announce assay results from the first phase of its year 2000 drill program which was completed on June 6 . Four step-out diamond drill holes, totaling 2,942 feet, were drilled during this first phase.

Drill holes 217 and 218 were drilled to define the western limit of mineralization in the Western Roscoelite Zone. Both holes intersected gold/silver mineralization from surface, as expected (see table of significant results, below).

Drill hole 219 was a deep hole (540 meters deep) drilled to test the down dip extent of the C9 zone. The hole intersected both the north and south limbs of the C9 zone. Mineralization occurs in extensive breccias which are re-cemented by pyrite and base-metals. Mineralization in this area has been shown to extend further west than previously interpreted, thus opening up a large area of potential mineralization.

The following table summarizes the significant drill results from the first phase of drilling. Assays were carried out by TSL Laboratories of Saskatoon.

Hole #	Section /Northing	Azimuth /Dip	from (meters)	to (meters)	Interval (meters)	Au g/t	Ag g/t	Au eq.* g/t
217	0+90 W 2+80 N	220 / -50	0.0	40.0	40.0	0.61	9.39	0.78
218	1+15 W 2+80 N	315 / -50	0.0	23.0	23.0	1.06	14.61	1.33
"			29.0	48.0	19.0	0.85	43.12	1.64
"			53.0	57.0	4.0	0.74	6.26	0.86
219	2+10 E 0+60 S	225 / -64	149.0	461.0	312.0	0.83	6.41	0.95
incl:			149.0	169.0	20.0	0.91	4.45	0.99
incl:			176.0	198.0	22.0	1.67	4.24	1.75
incl:			209.0	210.0	1.0	3.97	3.6	4.04
incl:			217	218	1.0	3.0	0.2	3.0
incl:			222.0	225.0	3.0	5.53	1.07	5.55
incl:			227.1	228.2	1.1	3.1	0.8	3.11
incl:			236.0	245.0	9.0	1.05	19.23	1.41
incl:			249.0	266.0	17.0	0.85	34.45	1.48
incl:			277.0	281.0	4.0	0.64	31.35	1.21
incl:			294.0	296.0	2.0	0.97	40.0	1.7
incl:			308.0	351.0	43.0	0.83	6.72	0.95
incl:			365.0	374.0	9.0	1.17	10.96	1.37
incl:			377.0	383.0	6.0	2.49	38.18	3.18
incl:			387.0	392.0	5.0	1.3	7.28	1.43
incl:			410.0	412.0	2.0	1.82	3.3	1.89
incl:			427.0	428.0	1.0	7.1	5.2	7.2
incl:			437.0	461.0	24.0	1.59	0.73	1.6

Drill hole 220 (from pad K178 at 4+25W 7+70S) was drilled to test the source of surface gold geochemical anomalies in limestones in the Black Zone South/South Pump Creek area which is 500m southeast of the main deposit. Anomalous gold, silver, and base-metal mineralization encountered in a fault along the base of the impermeable limestone cap has explained the surface geochemical anomalies and suggests leakage of mineralizing fluids from a mineralized source at depth.

Crews have mobilized to the property this week to commence the second phase of Madison’s year 2000 drill program. This program, totaling 2,500 feet, will have three main objectives: 1) testing northeastern extensions of the Black Zone North/Realgar Zone mineralization, 2) initial drilling to define structural controls in the Pinuni Creek area, and 3) testing the southern extension of the Western Roscoelite Zone.

* Gold equivalent calculations based on US$300 gold and US$5.50 silver.

On behalf of the Board of Directors of
MADISON ENTERPRISES CORPORATION

"David Laudrum"
David Laudrum, President

NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

« Back to news list...