Ecuadorian Minerals Corporation -
Drilling Completed at Ecuadorian's Beroen
Gold/Silver Property High Grade Assay Results
In Initial Drill Holes
Ecuadorian Minerals Corporation
EMC
Shares issued 58,499,265
1999-07-29 close $0.79
Thursday Jul 29 1999
Mr. Stephen Kay reports
Ecuadorian Minerals Corporation has completed a first phase diamond drilling
program on the San Luis, Alejandra and Dorada zones within the Beroen
epithermal gold/silver deposit, Ecuador. Twenty-one angled drill holes were
completed for a total of 2,029 metres.
Assay results have been received for the first four drill holes in the high grade
Alejandra zone (see Stockwatch, May 27, 1999). Three drill holes, BC 2, 4 and
5 intersected a well developed northeast-southwest striking, southerly dipping
breccia zone (the Alejandra breccia), over an estimated true width of 20 to 30
metres. Within the breccia zone, drill tested to a vertical depth of 130 metres
below surface and which remains open to depth, drill hole BC 5 cut a bonanza
grade intercept with uncut values of 24.9 grams per tonne gold and 189 g/t silver
over a width of 16 metres. Previous EMC surface samples within this same
breccia reported uncut values of 23.1 g/t gold and 273 g/t silver over a 14-metre
sample length of available outcrop.
Assay results for the three breccia intercepts (drill hole BC 5 contains the
shallowest intercept while BC 4 carries the deepest intersection) are given below,
together with vein intercepts obtained in drill holes BC 5 and BC 7 that correlate
with the Elizabeth vein, one of a number of high grade vein structures identified
and sampled on surface during EMC's exploration program. Also included in the
table are results from two diamond drill holes completed in 1996 by Rio Tinto,
approximately 80 metres southwest of the Alejandra breccia zone outlined by
EMC. Both drill holes intersected similar breccia-hosted, high grade gold and
silver mineralization.
Inter-
Drill Interval cept Gold Silver
Hole m m g/t g/t
EMC drilling 1999
BC 2 8.1 - 43.3 35.2 8.1 80
Incl 9.8 - 29.6 19.8 12.0 103
BC 4 52.0 - 84.0 32.0 2.0 16
Incl 52.0 - 64.2 12.2 4.3 19
Incl 58.2 - 62.7 4.5 8.8 58
BC 5 8.0 - 24.0 16.0 24.9 189
or 8.0 - 24.0 16.0 21.4 158
Incl 8.0 - 14.0 6.0 46.7 358
or 8.0 - 14.0 6.0 37.5 275
31.7 - 32.9 1.2 11.7 136
BC 7 16.4 - 17.5 1.1 5.0 43
Rio Tinto drilling 1996
LLP09 0 - 34.5 34.5 12.3 109
LLP10 0 - 27.0 27.0 10.4 103
Visible gold and ruby silver (a silver sulfide mineral) have been identified within the
Alejandra breccia in drill holes BC 4, BC 5 and in outcrop samples from both
veins and breccias at a number of surface exposures. At depth, the Elizabeth vein
appears to pass into the body of the Alejandra breccia zone and is traceable over
a down-dip distance of approximately 170 metres. Previous surface sampling
carried out by EMC across the vein, up-dip of drill hole BC 7, gave uncut values
of 26.9 g/t gold and 199 g/t silver over a vein width of 0.7 metres.
Sample analyses were carried out by Intertek Testing Services (Bondar Clegg),
Vancouver, using conventional fire-assay methods; duplicate analyses by Monitor
Geochemical Inc. are awaited. Additional assay results from the remaining drill
holes will be released as they become available.
Preparations are now under way to commence a 1,500-metre diamond drilling
program at the Vetaspata high grade gold exploration target in southeastern Peru
(see news release in Stockwatch, December 2, 1998) during the latter part of
September this year.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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