Millstream - Montana Uncle Sam Property
Date: September 9, 1996
Millstream has recently obtained an option to earn and buy up to 49% interest in the Uncle Sam lode gold/silver bearing claims, located in the southwestern part of the State of Montana. The option is subject to certain obligations and exploration expenditures to be carried out on or on behalf of the Property.
The Property is a former producing, high grade gold operator in the Tobacco Root Mountains, Madison County, Montana. The Property is accessible year round on a gravel maintained road from Sheridan, Montana, ten (10) miles to the west. Detailed geophysical, geochemical and geological surveys have extended the previous workings to cover a gold/graphite bearing structure over 8,000 feet long. The investigation has identified the presence of other lode gold occurrences associated with the known mineralized Uncle Sam Fault zone. All previous mining has come within or at the Uncle Sam Fault over a width of three (3) to ten (10) feet, which form a hanging wall structure that is part of a Fault zone about sixty (60) feet in true thickness.
Millstream has visited the Property and has had samples assayed. Samples taken from the hanging wall assayed at 36.2 grams (1.164oz) of gold and 82.7 grams (2.66 oz) of silver per ton. Vein material assayed at 16.04 grams (0.516 oz) of gold and 15.24 grams (0.49 oz) of silver per ton with minor lead and zinc values.
Underground exploration development and underground diamond drilling are planned to test the downward extensions of the known mineralization below the lowest present working level.
Millstream has an approximate capitalization of 15 million shares.
The principal objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential. Millstream holds mineral claims of interests, directly or through wholly owned subsidiaries, in the Czech Republic, USA, and Canada.
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