INITIAL EXPLORATION OF THE FABIOLA PROSPECT ADJACENT TO PIERINA DEPOSIT IN PERU
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Lima, Peru
Rod Husband, P. Geo., announces that Ballad's reconnaissance exploration program in Peru has discovered an advanced argillic alteration zone measuring 500 meters x 1,000 meters on the Fabiola prospect. The Fabiola prospect is adjacent to and immediately west of the concessions hosting the Pierina deposit located in the Pierina-Paron gold belt near Huaraz, in northern Peru.
Ballad's initial exploration work in the area is focusing on the 1,000
hectare Fabiola prospect and the 1,000 hectare Gertrudis prospect. The
Gertrudis prospect is also located adjacent to and immediately west of the Pierina deposit and immediately south of the Fabiola prospect.
Reconnaissance mapping to date has revealed the concessions are underlain by cretaceous sedimentary rocks and tertiary calipuy volcanics. These sequences are regionally favorable host rocks for bulk mineable disseminated gold deposits at Yanacocha, and Pierina and disseminated gold resources at La Virgen, Paron and Collon in northern Peru. Preliminary mapping and sampling by Ballad's consulting geologists has resulted in the discovery of widespread propylitic and argillic alteration of calipuy formation andesites. The north-northwest trending zone of acid leach, vuggy silica-limonite alteration measuring 500 x 1,000 meters is presently being mapped and sampled in detail. Results to date have returned anomalous values
in gold, silver, lead, zinc and arsenic. This style of alteration and
structural trend is characteristic of economic gold deposits in northern Peru.
Ballad has agreed to acquire a 100% interest in both the Fabiola and
Gertrudis prospects through its recently announced agreement with TVX Gold Inc. to acquire TVX's Peruvian subsidiary, TVX Minera del Peru S.A. TVX did not conduct exploration on the properties.
Ballad currently has six geologists conducting exploration in Peru including four independent Canadian/U.S. consulting geologists. Pursuant to its agreement with TVX Gold Inc. Ballad has successfully taken over TVX'x offices and operations in Peru and has budgeted an aggressive exploration program in Peru of US $300,000 in the next three months.
BALLAD ENTERPRISES LTD.
Per: "Rod Husband"
Rod Husband, P.Geo., Director
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this News Release.
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Ballad Enterprises Ltd. VSE - BDC
Suite 606 - 700 West Pender Street 604-682-7159
Vancouver, BC, V6C 1G8 N.America : 1-888-880-2288
Roger Kelly, Investor Relations www.canvest.com/ballad/
Gold Exploration in South America ballad@express.ca
Questions ? Investors? E-mail us.
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