A producer and an active explorer. Good for a look. The Tres Cruce
property, Peru caught my attention. Very nice long ore grade gold
intercepts.
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PAN AMERICAN SILVER CORP. - UPDATE
VANCOUVER, March 4 /CNW/ - Pan American Silver Corp. (TSE: PAA; NASDAQ:
PAASF) announces the following:
1. TRES CRUCES DRILLING, PERU: Further drilling results are now
available on exploration of the Company's Tres Cruces property, Peru, from
Oroperu Resources Ltd. which is earning a 50% interest in the property. These
results verify continuation of mineralization around the discovery areas and
indicate the presence of a new zone 1000 metres to the west (drill hole
97-7). Additional drilling is planned in the near future.
Hole Intercept Width Gold Grade
From - To M g/t
--------------------------------------------------------------
97-7 0-42.0 42.0 0.75
69.5-111.0 41.5 0.76
124.5-171.0 46.5 1.68
97.8 55.5-114.0 58.5 1.25
97-10 133.5-141.0 7.5 1.03
147.0-156.0 9.0 0.88
157.5-165.0 7.5 1.28
97-11 55.5-135.0 79.5 2.05
153.0-195.0 42.0 1.43
195.0-201.0 6.0 32.95
(bottom of hole)
97-12 19.5- 31.5 12.0 0.95
40.5- 75.0 34.5 2.25
108.0-127.5 19.5 0.83
2. CHACHACOMIRI, BOLIVIA: Pan American has acquired an option to purchase
100% of this property, subject to a 2% NSR royalty, by spending $500,000 on
the property and paying $85,000 by December 31, 1998. The property is located
in central Bolivia near the world's largest silver deposit at Cerro Rico,
Potosi, and shows similar geology. A surface exploration program is now
underway.
-30-
For further information: Ross J. Beaty or Ray C. Hughes, (604) 684-1175
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