Puca Irca Dos Mill phase 1 drill results
E.T.C. Industries Ltd EIL
Shares issued 10,058,940 Aug 14 close $0.16
Fri 15 Aug 97 News Release
Mr Ken Liebscher reports
The company is in receipt of the preliminary results of the
phase 1 drilling program carried out on the Puca Irca Dos Mil
claim, which are described as follows:
The following holes were drilled between May 9 and July 11 1997.
Total
Elevation depth
Hole No. (m) (m)
-------- --------- -------
DDHMM-01 4,880 125.15
DDHMM-02 4,675 170.25
DDHMM-03 4,650 165.40
The first drill hole was targeted to test the vertical variability of
the mineralization within the Manto Susan. The two additional
holes were drilled to test the Manto Susan at greater depths and
along strike from drill hole No. 1. Drill hole No. 1 intersected
base metal mineralization over 14.1m, however, the true width of
the mineralized zone in this area is estimated to be 2.8m. Gold
values were as high as 4.84 grams per tonne over a 0.7m section
but averaged 0.8 grams per tonne gold over the 14.1m
intersection. The 14.1m section also averaged 17 grams per tonne
silver, 1.28% lead and 0.65% zinc. Sporadic gold anomalies of up to
50 ppb were encountered in deeper sections of hole No. 1.
Drill hole No. 2 only encountered anomalous geochemical values over
one 0.50m section. These values were 240 parts per billion gold, 26
grams per tonne silver, 0.71% lead and 0.103% zinc. Drill hole No.
3 intersected massive sulphide mineralization over 2.65m but the
assays showed anomalous geochemical values only over 1.65m. These
values were 107 parts per billion gold, 18 grams per tonne silver,
0.73% lead and 1.9% zinc. All three holes drilled were on the Puca
Irca Dos Mil claim, which comprises 100 hectares. The
underlying option agreement requires a US$50,000 option payment to
be made on August 2 1997. It is the opinion of the company's
geologist that the results from the phase 1 program do not justify
the US$50,000 option payment. The phase 2 drilling program will be
delayed until a complete review of the results from the phase 1
program and all other data on the Mata Mata property can be made.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com |
