ARP - V Argentina Gold Message Board

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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Jason Ellis who wrote (12)	5/21/1997 1:44:00 PM
From: Jason Ellis	of 3282

Someone knows something that we don't. This annoucement was posted on May 21, but yet on May 20 over 1 million shares has traded. Someone is leaking info. before the annoucement day and buy these shares cheap, so when it comes to the annoucement day, they can sell and get some quick return. Argentina Gold Corp - News Release JV Veladero project drilling results; Rio Frio drilling results Argentina Gold Corp ARP Shares issued 33113389 1997-05-20 close $1.3 Wednesday May 21 1997 News Release Mr J. Patricio Jones reports The company has obtained the following drill results from the current gold exploration program at the Veladero project. The Veladero project is a joint venture with Barrick Gold (Argentina Gold is the operator with a 60% interest, Barrick holds a 40% interest). Approximately 2,600 metres have so far been drilled out of a 4,000 metre targeted program. The program has been designed to test geochemical and geophysical anomalies at the NW target and the Federico Ridge target. Results of the last three drill holes are in the following table. Hole V97-55 is in progress and has to date reached a depth of 150 metres. Drilling of hole V97-55 was interrupted due to weather and mechanical conditions. Depth Inter- Gold Hole (m) val(m) (g/t) Notes ---- ----- ------ ----- --------------- V97-44 34-88 52 3.20 - incl 10m of 10.0 g/t 91-99 8 0.90 - several other intersections to depth of 207m range from 0.60 to 0.20 g/t V97-55 0-90 90 2.00 - incl 4m of 39.0 g/t 90-150 60 pending - assay results from 90-150m not yet available - drilling to con- tinue below 150m V97-43 0-240 240 0.300 - shows contin- uous low grade anomalies The company expects to complete hole V97-65 and drill another two holes at Veladero before the end of the current drilling season. At Del Carmen (Argentina Gold 40%, Barrick Gold 60% and the operator), drilling is in progress with approximately 1,500 metres completed. Results will be reported as soon as available. At Rio Frio (Argentina Gold 40%, WMC Limited 60% and the operator), WMC Limited has completed five holes in the Guanaco Zonzo target. Preliminary results have shown high silver values (up to 200 grams per tonne silver) in some holes. Complete results will be reported as soon as available.

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