Hello Quickdraw, where do I start?
First I will summarize the October 1998 news release.
"Prompted by estimated gold equivalent resources of six million ounces, the pre-feasibility study would cost about $10 million to $12 million and be completed by 2000", therefore they will need to issue 3 to 4 million shares.
"We hope to begin pre-feasibility next year," PFG is not at this stage.
"During the project's five-year history $12 million have already been spent and drilling has covered 17,000 meters at a depth of 250 to 300 meters", therefore it won't be until next year when they will start the PRE-FEASIBILITY STUDY, notice the capital letters.
"The find is about 3.75 miles (6 km) southeast of Barrick's large-scale Pascua copper project and 35 kilometers northeast of its El Indio gold mine", Tell me Quickdraw, what other Au deposits are located by Luicho?
"Here in the Faja del Indio is where the deposits are being found,", no large low sulphidation Au system is in production in Peru. Tres Cruces was a bust.
"The main drilling area encompasses 500 kilometers of the 13,000 hectare property. Argentina Gold Corp. owns 90,000 hectares in the zone, known as the Valle del Cuna", large ground package is worth something in a KNOWN GOLD BELT.
"Provided results remain positive Argentina Gold Corp. tentatively foresees a feasibility study completed by 2001, Martinez said", this was said after they already spent 12 million on the project.
Quickdraw, you give your head a shake, Stay tune, I got more.
Cheers |
