NDT News Release
NDT acquires Argentina gold project
NDT Ventures Ltd NDE
Shares issued 25,518,743 Aug 17 close $0.15
Wed 18 Aug 99 News Release
Mr. Fred Hewett reports The company has acquired by staking, two concessions in the Cordon de Esquel region of Chubut province, Argentina. The two concessions, called Magma I and II, total 5,000 hectares in size and were acquired to give NDT an early entry into this emerging gold district of Argentina. Over the past few months, NDT's staff have been investigating numerous mineral exploration opportunities. This initial acquisition in Argentina is the result of this research as the company continues in an effort to
identify emerging areas for acquisition, exploration and development of mineral properties.
NDT has determined that an Argentinean company, Minera El Desquite (MED) has discovered several new epithermal gold zones through a recent program of trenching and drilling on their Cordon de Esquel property. This property previously had an inferred resource of approximately 250,000 ounces of gold in the Joya del Sol zone, however, the continuing exploration program on this and other zones indicates the potential for a multimillion-ounce gold
camp. MED controls by way of option agreements, staked concessions and other agreements, a large land position of approximately 75,000 hectares. A press release by one of the partners of MED recently summarized their activity on the Galadriel target, where bonanza gold grades have been returned in a recent drill program. Selected drill-hole intersections returned 20.4 grams per tonne gold over 14 metres, 17.4 g/t gold over 26 metres and 15.9 g/t gold over 17 metres. Channel sampling results included 33.3 g/t gold over 11.6 metres, 38.7 g/t gold over 10.7 metres and 41.3 g/t gold over 7.3 metres. To date, the average true width of the zone is in excess of eight metres at a grade of approximately 15 g/t gold. The
Galadriel zone represents one of 15 targets that trend roughly north-south over a strike length in excess of 18 kilometres and a vertical range of 400 metres on the MED properties.
NDT's Magma I and II concessions are geologically similar to areas being explored by MED with alteration and mineralization related to major northwest-to-north trending structural systems that control mostly volcanic hosted, low-sulphidation, epithermal activity. In the district, known mineralization is related to quartz vein structures, stockwork vein systems and hydrothermal breccias. The Magma I and II concessions represent an attractive land position within this emerging precious metal district with
excellent exploration potential for identifying possibly economic gold mineralization.
The Esquel area has moderate elevations (1,200 to 1,500 metres) with a Nevada-type climate, which makes year-round operations possible. The town of Esquel with a population of 30,000 would be the logical service centre. The company is currently developing an exploration program consisting of geological mapping and sampling, which will start shortly.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
