Olympus announces more high-grade mineralization at Phuoc Son gold project

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OTCBB:OLYMF



Apr 12, 2001, 01:00 ET from Olympus Pacific Minerals Inc.

    VANCOUVER, April 12 /PRNewswire/ - Olympus Pacific Minerals Inc. (the
 "Company") is pleased to announce that drilling has intersected very
 significant high- grade mineralization in another of its drill holes at the
 Phuoc Son gold project in Central Vietnam. The drill hole, DSDH-67 is located
 within the Bai Go sector of Phuoc Son and is one of 7 holes that have been
 drilled since January, to test the limits of a shoot of high-grade Au-Ag-Pb-Zn
 mineralization within the sector. Selected preliminary drill assay results
 (greater than 1 g/t Au) are presented below.
 
 
     -------------------------------------------------------------------------
                   PHUOC SON GOLD PROJECT (BAI GO SECTOR)
                        1ST QUARTER 2001 DRILL RESULTS
     -------------------------------------------------------------------------
                                                        Assays
           Depth of      Length of     ---------------------------------------
           Intercept     Intercept           Au           Ag        Pb     Zn
           -------------------------------------------------------------------
     Drill                               g/t    oz/   g/t    oz/
     hole  From   To     Metres Feet           short        short
     No.   (m)    (m)                           ton          ton    %      %
     -------------------------------------------------------------------------
     DSDH
     -61  95.40   96.00   0.60   1.97   4.52   0.13   1.00   0.02  0.01   0.01
     -------------------------------------------------------------------------
         115.00  137.00  22.00  72.18   5.76   0.17   7.55   0.22  0.73   0.29
     -------------------------------------------------------------------------
     Including:
         125.00  137.00  12.00  39.37   9.71   0.28   9.50   0.28  0.91   0.00
     -------------------------------------------------------------------------
         125.00  133.00   8.00  26.25  13.42   0.39  14.13   0.41  1.35   0.00
     -------------------------------------------------------------------------
         128.00  131.00   3.00   9.84  21.32   0.62  25.00   0.73  2.39   0.00
     -------------------------------------------------------------------------
     DSDH
     -62  88.60   89.20   0.60   1.97   2.78   0.08   8.00   0.23  0.30   0.00
     -------------------------------------------------------------------------
          99.35  100.05   0.70   2.30   2.47   0.07   1.00   0.03  0.05   0.00
     -------------------------------------------------------------------------
         100.05  100.75   0.70   2.30  24.77   0.72  28.00   0.81  3.57   0.01
     -------------------------------------------------------------------------
         105.00  106.00   1.00   3.28   1.19   0.03   0.00   0.00  0.00   0.01
     -------------------------------------------------------------------------
     DSDH
     -63 103.40  104.80   1.40   4.59   1.02   0.03   0.00   0.00  0.00   0.00
     -------------------------------------------------------------------------
     DSDH
     -65 116.20  116.50   0.30   0.98   2.14   0.06   1.00   0.03  0.05   0.02
     -------------------------------------------------------------------------
     DSDH
     -67
     (x) 128.00  143.30   8.60  28.22  23.33   0.68
     ----------------------------------------------
     Including:
         128.00  128.60   0.60   1.97   9.12   0.27
     ----------------------------------------------
         128.60  129.00   0.40   1.31 235.03   6.86
     ----------------------------------------------        Assays not
         129.00  129.80   0.80   2.62  22.80   0.67        yet available(xx)
     ----------------------------------------------
         133.00  134.00   1.00   3.28   5.79   0.17
     ----------------------------------------------
         138.70  139.40   0.70   2.30   3.15   0.09
     ----------------------------------------------
         139.40  140.30   0.90   2.95   3.54   0.10
     ----------------------------------------------
         140.30  141.50   1.20   3.94  37.24   1.09
     ----------------------------------------------
         142.00  143.30   1.30   4.27  19.60   0.57
     -------------------------------------------------------------------------
 
 
     (x)    In 3 separate sections
     (x)(x) Complete assay analyses, including silver, lead and zinc assays,
            should be available next week.
 
     DSDH-67 intersected appreciable mineralization in three separate vein
 sections. These results confirm that the Bai Go high-grade shoot extends
 further to the west (i.e. down-dip) beyond the present limit of drilling. The
 Bai Go shoot also remains open along strike to the north. Further drilling
 (DSDH-68 -70) is therefore now in progress to investigate the grade and extent
 of the Bai Go shoot projections in these directions. It is reported that to
 date, DSDH-70 has intersected over 50 metres of quartz veining within the
 target zone.
     As shown in the table, DSDH-62 intersected comparatively thin high-grade
 mineralization, while holes DSDH-63-66 intersected subeconomic gold values.
 These holes therefore partially define the apparent southeasterly and
 southwesterly limits of the Bai Go shoot.
     At Bai Gio (700m NE of Bai Go), 3 additional holes (DSDH-71-73) were
 drilled to investigate the down-dip projection of a high-grade shoot that was
 previously channel sampled from underground artisan workings. These holes each
 intersected several zones of silicification and sheeted quartz veining. Assays
 are presently awaited.
     At Nui Vang (600m SE of Bai Gio), a prominent gold-copper soil anomaly is
 coincident with extensive quartz float and strong detrital gold dispersion
 within lateritic soils, residual upon a large ultramafic intrusive. A program
 of soil geochemistry, geological mapping and trenching is progress to
 delineate targets for drilling.
     At Bo (3km NE of Bai Go), a drill access road is being constructed in
 preparation of the planned 2nd Quarter drilling of a steeply dipping,
 northerly striking zone of gold and base-metal mineralization, hosted within
 greenschist metavolcanic rocks.
     At Bai Dat (1km south of Bai Go), further targets are being considered to
 extend the Bai Dat high-grade shoot, which has to date been intersected in 24
 drillholes.
     Elsewhere within the project area, drill target definition programs
 (including detailed geological mapping and rock chip geochemistry) are now in
 progress to investigate a further ten prospective zones of outcropping
 mineralization. These sites are being assessed for possible drilling
 investigation during the 2nd half of 2001.
     Further exploration results will be released as they become available.
 
 
     On behalf of the Board of
     OLYMPUS PACIFIC MINERALS INC.
 
 
     "Arthur T. Fisher"
 
     Arthur T. Fisher
     President
 
                  PLEASE VISIT OUR WEB SITE AT WWW.OYM.NET
 
     THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
 RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
 

SOURCE Olympus Pacific Minerals Inc.
    VANCOUVER, April 12 /PRNewswire/ - Olympus Pacific Minerals Inc. (the
 "Company") is pleased to announce that drilling has intersected very
 significant high- grade mineralization in another of its drill holes at the
 Phuoc Son gold project in Central Vietnam. The drill hole, DSDH-67 is located
 within the Bai Go sector of Phuoc Son and is one of 7 holes that have been
 drilled since January, to test the limits of a shoot of high-grade Au-Ag-Pb-Zn
 mineralization within the sector. Selected preliminary drill assay results
 (greater than 1 g/t Au) are presented below.
 
 
     -------------------------------------------------------------------------
                   PHUOC SON GOLD PROJECT (BAI GO SECTOR)
                        1ST QUARTER 2001 DRILL RESULTS
     -------------------------------------------------------------------------
                                                        Assays
           Depth of      Length of     ---------------------------------------
           Intercept     Intercept           Au           Ag        Pb     Zn
           -------------------------------------------------------------------
     Drill                               g/t    oz/   g/t    oz/
     hole  From   To     Metres Feet           short        short
     No.   (m)    (m)                           ton          ton    %      %
     -------------------------------------------------------------------------
     DSDH
     -61  95.40   96.00   0.60   1.97   4.52   0.13   1.00   0.02  0.01   0.01
     -------------------------------------------------------------------------
         115.00  137.00  22.00  72.18   5.76   0.17   7.55   0.22  0.73   0.29
     -------------------------------------------------------------------------
     Including:
         125.00  137.00  12.00  39.37   9.71   0.28   9.50   0.28  0.91   0.00
     -------------------------------------------------------------------------
         125.00  133.00   8.00  26.25  13.42   0.39  14.13   0.41  1.35   0.00
     -------------------------------------------------------------------------
         128.00  131.00   3.00   9.84  21.32   0.62  25.00   0.73  2.39   0.00
     -------------------------------------------------------------------------
     DSDH
     -62  88.60   89.20   0.60   1.97   2.78   0.08   8.00   0.23  0.30   0.00
     -------------------------------------------------------------------------
          99.35  100.05   0.70   2.30   2.47   0.07   1.00   0.03  0.05   0.00
     -------------------------------------------------------------------------
         100.05  100.75   0.70   2.30  24.77   0.72  28.00   0.81  3.57   0.01
     -------------------------------------------------------------------------
         105.00  106.00   1.00   3.28   1.19   0.03   0.00   0.00  0.00   0.01
     -------------------------------------------------------------------------
     DSDH
     -63 103.40  104.80   1.40   4.59   1.02   0.03   0.00   0.00  0.00   0.00
     -------------------------------------------------------------------------
     DSDH
     -65 116.20  116.50   0.30   0.98   2.14   0.06   1.00   0.03  0.05   0.02
     -------------------------------------------------------------------------
     DSDH
     -67
     (x) 128.00  143.30   8.60  28.22  23.33   0.68
     ----------------------------------------------
     Including:
         128.00  128.60   0.60   1.97   9.12   0.27
     ----------------------------------------------
         128.60  129.00   0.40   1.31 235.03   6.86
     ----------------------------------------------        Assays not
         129.00  129.80   0.80   2.62  22.80   0.67        yet available(xx)
     ----------------------------------------------
         133.00  134.00   1.00   3.28   5.79   0.17
     ----------------------------------------------
         138.70  139.40   0.70   2.30   3.15   0.09
     ----------------------------------------------
         139.40  140.30   0.90   2.95   3.54   0.10
     ----------------------------------------------
         140.30  141.50   1.20   3.94  37.24   1.09
     ----------------------------------------------
         142.00  143.30   1.30   4.27  19.60   0.57
     -------------------------------------------------------------------------
 
 
     (x)    In 3 separate sections
     (x)(x) Complete assay analyses, including silver, lead and zinc assays,
            should be available next week.
 
     DSDH-67 intersected appreciable mineralization in three separate vein
 sections. These results confirm that the Bai Go high-grade shoot extends
 further to the west (i.e. down-dip) beyond the present limit of drilling. The
 Bai Go shoot also remains open along strike to the north. Further drilling
 (DSDH-68 -70) is therefore now in progress to investigate the grade and extent
 of the Bai Go shoot projections in these directions. It is reported that to
 date, DSDH-70 has intersected over 50 metres of quartz veining within the
 target zone.
     As shown in the table, DSDH-62 intersected comparatively thin high-grade
 mineralization, while holes DSDH-63-66 intersected subeconomic gold values.
 These holes therefore partially define the apparent southeasterly and
 southwesterly limits of the Bai Go shoot.
     At Bai Gio (700m NE of Bai Go), 3 additional holes (DSDH-71-73) were
 drilled to investigate the down-dip projection of a high-grade shoot that was
 previously channel sampled from underground artisan workings. These holes each
 intersected several zones of silicification and sheeted quartz veining. Assays
 are presently awaited.
     At Nui Vang (600m SE of Bai Gio), a prominent gold-copper soil anomaly is
 coincident with extensive quartz float and strong detrital gold dispersion
 within lateritic soils, residual upon a large ultramafic intrusive. A program
 of soil geochemistry, geological mapping and trenching is progress to
 delineate targets for drilling.
     At Bo (3km NE of Bai Go), a drill access road is being constructed in
 preparation of the planned 2nd Quarter drilling of a steeply dipping,
 northerly striking zone of gold and base-metal mineralization, hosted within
 greenschist metavolcanic rocks.
     At Bai Dat (1km south of Bai Go), further targets are being considered to
 extend the Bai Dat high-grade shoot, which has to date been intersected in 24
 drillholes.
     Elsewhere within the project area, drill target definition programs
 (including detailed geological mapping and rock chip geochemistry) are now in
 progress to investigate a further ten prospective zones of outcropping
 mineralization. These sites are being assessed for possible drilling
 investigation during the 2nd half of 2001.
     Further exploration results will be released as they become available.
 
 
     On behalf of the Board of
     OLYMPUS PACIFIC MINERALS INC.
 
 
     "Arthur T. Fisher"
 
     Arthur T. Fisher
     President
 
                  PLEASE VISIT OUR WEB SITE AT WWW.OYM.NET
 
     THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
 RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
 SOURCE Olympus Pacific Minerals Inc.