and today's press release ... you figure ...
El Misti Gold Ltd -
Clarification of assay variations
El Misti Gold Ltd EMGShares issued 21,324,6431998-07-21 close $0.29Wednesday Jul 22 1998Mr. Robin Slaughter reports Further to news in Stockwatch dated July 21, 1998, the directors of El Misti believe that the assay results from the Blaster prepared 44 samples do not represent a sufficient population for definitive conclusions to be made and therefore have not published the results on a stand alone basis. The company is using Intertek (Bondar Clegg) assay laboratories for sample preparation and assaying. The company is of the opinion however that the variation between the original fire and I.C.P. assays compared to the assays from the Blaster sample preparation method (air classification) are materially different and therefore warrant the added time and expense to reassay all assay intervals in the diamond drill holes and thereby ensure accurate data is provided from truly representative samples. There are both positive and negative variations, but in all cases, the results were considered materially different. The calculation of 76 per cent of the 44 samples having higher values referred to in the July 21 Stockwatch may not be significant based on analysis of highly skewed data on an insufficient number of samples. The actual variation will be determined with a higher degree of confidence from the results of the 1000 or so samples being re-assayed. When analytical results from the Blaster prepared samples and coarse gold fire assays and other elements assays are received for each hole in its entirety they will be published. The company is preparing its samples using what is known as the Blaster, method, (previously referred to as air classification preparation). This procedure for gold has the advantage that the coarse particles are isolated from the entire sample and are subsequently assayed in their entirety, along with a split of the fine material produced. Any and all gold particles that can contribute significantly to the assay are isolated and assayed in the coarse fraction and no coarse gold particles report to the fines. This method of sample preparation reduces sampling variance to the minimum practical level and ensures that all coarse gold particles are assayed. The term "air classification" is a description of the above method, and "coarse gold fire assay" pertains to the analytical method used after sample preparation. The fine fraction from the Blaster preparation method is being assayed for other elements including copper, silver and zinc. The company does not have an explanation of why upgraded copper (98 per cent of the 65 copper assays) and silver (100 per cent of the 44 silver assays) assay values were obtained from the fine fraction samples prepared by the Blaster method. Further investigation is required. The company is running standard and blank assay checks as part of its quality assurance program to verify laboratory procedures. The San Nicolas project (plant and mine) is 3-5 kilometres from Sinchao and is being evaluated initially as a stand alone project in the pre-feasibility. The San Nicolas project will also be evaluated as an initial starter feed for a combined project, if an independently verifiable resource at Sinchao can be established. Sinchao is an exploration project with 3918 metres of diamond and 2948 metres of reverse circulation drilling completed. The project is at an early stage of exploration and evaluation. Although at an early stage, the company is continuing to identify what would probably be the key ingredients and their cost components for a successful project in the region if an independently verifiable resource can be established. The development concept outlined in Stockwatch July 21, relates to preliminary analysis done on a 'what if' basis. This is a preliminary development concept and therefore there is no assurance that this concept would be applicable to the Sinchao project even if such resource were established. As a result the company agrees to withdraw such disclosure from the public domain. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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