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Gold/Mining/Energy : Peruvian Gold Ltd. PVO

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To: Fred Benjamin who wrote (280)	5/29/1997 2:07:00 PM
From: Brian Toth	of 892

To ALL Here's the new release Peruvian Gold Limited - News Release Lara drilling results Peruvian Gold Limited PVOShares issued 108497811997-05-28 close $1.6Thursday May 29 1997News ReleaseMr David Henstridge reports The company has received the results from five reverse circulation drill holes on its 100% owned Lara porphyry copper project in southwestern Peru. This small initial drill program was conducted to test the concept that Lara has a leached cap on a porphyry copper prospect. The five holes, ranging in depth from 137 metres to 256 metres and totalling 995 metres, were within highly altered, diorite, monzonite and aplite/granite phases of a system that produced anomalous copper values in surface rock chip samples. All holes intersected highly anomalous to ore grade values in copper with the average copper grade increasing towards the center of the porphyry. Holes 1 and 3 are inside what was mapped as the pyritic alteration halo, and holes 2, 4 and 5 are within the phyllic-potassic alteration halo. These holes are all within a zone containing highly anomalous induced polarization chargeability values (> 45 mV/volt). Hole 4 is collared near the center of the system and hole 1 is 550m to the southeast, the other holes are located between them. Total Sample Inter- Hole Depth Depth val Cu Au No. (m) (m) (m) (%) ppb ----- ----- ------- ------ ---- ---- LRC 1 137 0-137 137 0.08 11 LRC 2 212 0-212 212 0.19 15 incl. 0-20 20 0.44 22 42-66 24 0.47 22 LRC 3 168 0-168 168 0.23 18 incl. 40-78 38 0.32 19 LRC 4 222 0-222 222 0.21 12 incl. 0-70 70 0.36 12 30-70 40 0.56 11 50-70 20 0.78 8 LRC 5 256 0-200 200 0.21 11 0-80 80 0.25 9 18-38 20 0.56 6 The zone of interest, as outlined by mapping and geophysics, covers 6 sq km and is more than sufficient to host a significant copper resource. The results to date are encouraging in that the widespread copper values warrant follow-up by way of a more extensive drill program. So far, the gold values are insignificant. Follow up drilling at Lara will be undertaken after the Agua Verde copper oxide and the Perenti epithermal gold projects are drilled. These programs are scheduled to begin next month, The Lara assays were completed by C.H. Plenge & Cia SA in Peru. One in every 10 samples have been air freighted to Vancouver for check analysis. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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