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Gold/Mining/Energy : Cardero CDU, the next Piernia

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To: Walter Kalin who wrote (26)	6/27/2000 2:26:00 PM
From: charred	Read Replies (1) of 30

Well that's geology for you. Here is the news release: Cardero Resource Corp CDU Shares issued 3,951,891 2000-06-26 close $1.5 Tuesday Jun 27 2000 See Ascot Resources Ltd (AOT) News Release Mr. Kenneth Carter reports Ascot Resources and partner, Cardero Resource Corp., have received analytical results for the first hole of a 12-hole diamond drill program at the Cori Huarmi project in Peru. Hole 1, collared at the extreme northwest end of the target area, was drilled to a depth of 357 metres and intersected no significant gold values. The hole encountered argillic and quart-alunite altered tuff, quartz feldspar porphyry and hydrothermal breccia. A 130-metre-thick interval of the hydrothermal breccia returned modestly elevated gold values in the range 80 parts per billion to 460 parts per billion. Finely disseminated pyrite and enargite occurred throughout while quartz-pyrite-enargite stockwork veins and silica flooding increased in density toward the base of the hole. The second drill hole, collared 1,000 metres to the southeast of hole 1, was targeted to test another portion of the hydrothermal breccia and has been completed to a depth of 338 metres. The drill has now moved on to hole 3, located 400 metres southeast of hole 2. The first three holes, all drilled toward the northeast at a -60 degree dip, will provide a reconnaissance look at approximately half of the 2.7-kilometre-long gold anomaly. Further results will continue to be released as available. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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