|
The saga of El Encanto continues. Just what is the objective here? I really don't know. I like the timing on this. Just as a Globe and Mail initiated run-up is occurring, they have to dump this on us. El Encanto exploration progress
Peruvian Gold Limited PVO
Shares issued 10,849,781 Apr 18 close $1.69
Mon 21 Apr 97 News Release
Mr David Henstridge reports
The company has received results from a further 16 assays taken from the
underground exploration program at the trench No. 7 site, El Encanto
prospect, Ecuador.
Late in 1996 and in early 1997, a crosscut was driven parallel to the
outcrop found along trench 7, from which high grade assays were obtained in
1996. A drift, started in the middle of the high grade zone found in the
crosscut, is being driven at north 45 degrees east, parallel to the
footwall contact between the mineralized porphyry and the metavolcanics it
intrudes. The contact is 18m southeast of the drift.
The drift has shown the best continuity in mineralization found underground
- high grade values over intervals from 2m to 8m occur between the surface
and the last assayed sample in the drift. These zones are separated by 1 to
2m intervals of low grade material ranging from 0.30 g/t Au to 0.87 g/t Au.
A weighted average of samples collected between the opening of the drift at
the high grade zone in trench 7 and the most recent workings is 12.4 g/t Au
and 34.5 g/t Ag over 23m. The drift has advanced 32m to date and remains in
mineralization.
A definite pattern to the mineralizing control, or trend, is not yet
established in this complex system; however, the continuity of
mineralization in the drift suggests that the drift is parallel to the
strike of the mineralized zone, which is also parallel to the footwall
contact. After completion of drifting, the width of the zone will be
determined by a crosscut and the vertical continuity will be tested by
locating a raise or winze.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
