SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities Act
of 1934
Date of Report (date of earliest event reported): June 27, 1996
Mallon Resources Corporation
(exact name of registrant as specified in its charter)
Colorado 0-17267 84-1095959
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
999 18th Street, Suite 1700, Denver, Colorado 80202
(address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (303) 293-2333
not applicable
(former name or former address, if changed since last report)
Item 5. Other Events
On June 27, 1996, Mallon Resources Corporation (the "Company") issued
a press release, the text of which was as follows:
Mallon Resources Corporation (Nasdaq: MLRC) announces that its gold
mining unit, Laguna Gold Company, has reported the results of its
recently completed Phase 2 drilling program conducted on its Rio
Chiquito Project in Costa Rica. The program consisted of 27 core
holes containing an aggregate of 2,890 meters. The intercept data
quoted below are based on a 0.5 grams per tonne gold cut-off, and
independent lab assays.
Laguna reported that the most notable intercepts were in DD-242 and
DD-246. DD-242 intercepted 12.5 meters averaging 10.57 grams per
tonne gold and 6.0 grams per tonne silver, including a 3 meter sample
at 38.1 grams per tonne gold. This intercept is about 20 meters below
the floor of the previously planned pit. DD-246 intercepted 33.60
meters of material averaging 8.84 grams per tonne gold and 5.6 grams
per tonne silver, including a 3.05 meter intercept that measured 58.7
grams per tonne gold. This intercept was made approximately 20 meters
below a previously delineated high-grade intercept.
According to Laguna, the best intercept in the hangingwall area is in
hole DD-239, which averaged 9.89 grams per tonne gold and 74.8 grams
per tonne silver over 18.3 meters. This intercept includes 3.1 meters
at 36.8 grams per tonne gold. Three holes were drilled on targets in
the vicinity of the existing Rio Chiquito pit. The two holes designed
to test northerly extensions of silicification encountered low-grade
material. The third hole, DD-221, intersected the main zone at depth,
and also encountered a low-grade stockwork zone in the hangingwall
that was previously undetected.
Phase 2 Test Hole Results
<TABLE>
<CAPTION>
Hole Interval Length Gold Silver
Number (meters) (meters) (grams per tonne) (grams per tonne)
<S> <C> <C> <C> <C> <C>
DD-217 6.00 19.80 13.80 0.63 14.9
DD-220 33.00 42.00 9.00 2.90 35.6
DD-221 80.45 99.45 19.00 0.84 30.7
DD-221 108.80 113.60 4.80 3.34 49.0
DD-222 71.55 83.75 12.20 5.14 107.9
DD-224 43.70 65.60 21.90 3.19 8.5
DD-225 93.10 98.85 5.75 16.02 12.6
DD-226 90.20 103.90 13.70 1.42 3.8
DD-228 46.55 64.00 17.45 5.32 28.8
DD-229 77.20 79.00 1.80 26.10 53.1
DD-232 105.20 116.15 10.95 4.28 2.8
DD-234 104.80 122.75 17.95 5.19 4.2
DD-236 52.20 56.80 4.60 2.16 3.1
DD-239 94.80 97.85 3.05 14.70 186.0
DD-239 70.40 88.70 18.30 9.89 74.8
(include in above) 3.10 36.80 1,070.0
DD-242 133.20 145.70 12.50 10.57 6.0
(include in above) 3.00 38.10 14.0
DD-242 17.60 20.35 2.75 7.60 7.0
DD-243 27.90 30.95 3.05 3.04 9.8
DD-243 61.45 67.55 6.10 2.44 8.7
DD-246 87.75 121.35 33.60 8.84 5.6
(include in above) 3.05 58.70 8.6
DD-246 63.25 69.35 6.10 12.03 64.9
Laurence Marsland, Laguna's President, said, "The Company is
encouraged by the results of this drilling program, especially the
deep high-grade intercepts. We will pursue these targets further in
our next round of drilling. We plan to accelerate our exploration and
development operations, both at the Rio Chiquito Deposit and at the
six highly prospective gold anomalies we have already identified on
other portions of the Rio Chiquito Project acreage."
Laguna's wholly-owned Rio Chiquito Project controls 19 concessions
covering approximately 277 square kilometers. Included among the
properties is the Rio Chiquito Deposit, which, without considering the
results described above, was known to contain a geologic resource of
409,000 ounces of gold and 7,760,000 ounces of silver. Laguna Gold
Company is a Denver-based mining company engaged in the exploration
for and development of precious metals in Costa Rica. Mallon's 14.4
million Laguna shares represent approximately 57% of Laguna's issued
and outstanding common shares.
Mallon's oil and gas operations, located primarily in the western
United States, are conducted by its wholly-owned subsidiary, Mallon
Oil Company. Mallon is headquartered in Denver, Colorado. Mallon's
common stock is listed on the Nasdaq's National Market System under
the trading symbol "MLRC."
Signatures
Pursuant to the requirements of the Securities Exchange act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Mallon Resources Corporation
June 27, 1996 __/s/ Roy K. Ross______________________
Roy K. Ross, Executive Vice President
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