Here's hope ----
BLACK HAWK MINING INC. (TSE-BHK) is pleased to report the
intersection of bonanza and high-grade assays from drilling
completed in December 1999 at the 225 km2 Manantial Espejo
silver-gold project located in southern Argentina. Seventeen
diamond drill holes totalling 1,416 metres were completed on six
veins. Most holes successfully tested new targets and results,
together with further drilling, are expected to add to the
previously reported resource of 89.3 million ounces of
silver-equivalent.
The best results included T-124 which intersected over 1.2
kilograms per tonne of silver-equivalent over 5.9 metres (or 36.0
ounces per ton over 19.4 feet), including 12.7 kilograms per
tonne over 0.5 metres (or 372 ounces per ton over 1.7 feet);
T-131 which intersected over 2.9 kilograms of silver-equivalent
per tonne over a width of 4.1 metres (or 86.4 ounces per ton over
13.5 feet); and T-132 which intersected over 1.5 kilograms of
silver-equivalent per tonne over a width of 1.2 metres (or 45.2
ounces per ton over 3.9 feet).
Veta Karina is the only vein system that was previously drilled.
In the most recent program, extensions and a zone parallel to
Veta Karina were tested by six drill holes. Intersections
included several high-grade continuations of known mineralization
and discovery of a new parallel vein, the 9K Vein, with enriched
oxide mineralization. Holes T-123 and T-124 confirmed the
continuity of Veta Karina mineralization at depth. T-123
intersected 902 grams of silver and 8.6 grams of gold over 2.0
metres (40.2 ounces of silver-equivalent per ton). T-124
intersected 557 grams of silver and 8.2 grams of gold over 3.3
metres (29.4 ounces of silver-equivalent per ton). The western
extension of Veta Karina was tested by T-125 and T-126. Although
both holes intersected low-grade mineralization at shallow
depths, they confirm that mineralization extends westward and
analysis of host rocks and mineralization indicates strong
potential for high-grade mineralization at depth.
T-124 also intersected a previously unrecognized parallel zone,
the 9K Vein, which averaged 913 grams of silver and 5.83 grams
gold per tonne over 5.9 metres (36.0 ounces of silver-equivalent
over 19.4 feet). This included a 0.5 metre interval grading
9,350 grams of silver and 61.3 grams of gold per tonne (371.6
ounces of silver equivalent per ton over 1.7 feet). Step-out
holes drilled 30 metres on either side of T-124 cored leached
vein material. T-138, the western step-out, intersected 0.7
metres of remnant mineralization grading 315 grams of silver and
2.1 grams of gold per tonne (12.6 ounces of silver-equivalent per
ton over 2.3 feet). The 9K Vein remains open at depth.
The 1999 drilling program also targeted five other new veins.
Veta Sol is located 200 metres north of Veta Karina and has the
same apparent structural control. Three holes tested this new
target of which T-127 and T-129 returned moderate to high-grade
mineralization over narrow widths. Silver grades appear to
improve with depth and interpretation suggests good potential for
improvement in vein thickness and grades below these
intersections. Maria Este was tested with a single hole which
intersected a 1.6-metre vein with moderate grades. Additional
field work will be required to assess the significance of this
hole.
Veta Marta, located two kilometres northeast of Maria Este, is a
new vein which was tested with a single drill hole. T-131
intersected several high-grade zones, including a 4.1 metre
intersection averaging 1,160 grams of silver and 32.7 grams of
gold per tonne (86.4 ounces of silver-equivalent over 13.5 feet).
Within this intersection was a 1.3 metre sample which graded
2,566 grams of silver and 73.1 grams of gold per tonne (192
ounces of silver-equivalent over 4.3 feet). Veta Marta has been
mapped on surface for several hundred metres. Veinlet and
quartz-filled breccia along strike of the vein indicate potential
for an additional one kilometre of mineralization.
The Candelaria Extension is another newly discovered zone on the
western side of the large property. Two holes tested high-grade
mineralization found on surface. T-132 intersected a 1.2
metre-wide vein grading 1,537 grams of silver per tonne (45.2
ounces of silver-equivalent per ton over 3.9 feet). Additional
work will follow up this intersection.
Samples were prepared by Bondar-Clegg & Co. Ltd. at its office in
Mendoza, Argentina and sent for assay at its lab in Santiago,
Chile.
The Candelaria Zone was tested with four drill holes. Most of
these holes intersected narrow bands of moderate to high-grade
mineralization, indicating that the zone pinches below surface.
A structural analysis is planned to determine if there is
potential for the vein to flatten and widen with depth.
This program clearly demonstrated the property's significant
potential to host additional veins with high-grade
mineralization. It also showed that some veins contain small
tonnages of bonanza-grade supergene mineralization. Future work
programs will focus on delineating these zones as well as
identifying additional targets.
Black Hawk owns 80% of the Manantial Espejo project. The
remaining 20% portion is held by a subsidiary of Barrick Gold
Corporation ("Barrick"). Upon completion of a positive
feasibility study, Barrick must elect to either sell its interest
to Black Hawk or increase its interest to 40% based on
predetermined prices. Silver Standard Resources Inc. has an
option to acquire 50% of Black Hawk's share in the Manantial
Espejo project and is the operator.
Black Hawk Mining Inc. is a gold mining company with two mines,
the Keystone Gold Mine in Manitoba and El Limon Mine in
Nicaragua. These two mines produced a total of 117,000 ounces of
gold in 1999. The company also holds exploration properties in
Manitoba and Nicaragua as well as in northern Ontario, Maine and
British Columbia. Black Hawk is listed on The Toronto Stock
Exchange under the symbol BHK.
A map showing the location of recent drill holes, is available by
fax on request (416) 363-2911. See accompanying page for a
tabular summary of drill results.
For further information please contact:
Mr. Michael Gareau
Vice President, Exploration
Tel. (416) 363-6268
Mr. Garth A.C. MacRae
President and Chief Executive Officer
Tel. (416) 365-5657 |
