The upward movement in price, may be due to increased buying before the results are released, from the following prospects.
Ecuador and Peru exploration activities
Peruvian Gold Limited PVO
Shares issued 14,204,966 Aug 1 close $1.14
Tue 5 Aug 97 News Release
Mr David Henstridge reports
The following is an update of activities on the company's various
exploration prospects:
EL ENCANTO, ECUADOR
The company has terminated its option agreement with Minera Australiana Cia
Ltda covering the La Bonita leases in northern Ecuador. The results of the
adit exploratory work behind trench seven revealed that the gold occurs in
probably narrow, but high grade, structurally controlled shoots which
appear to host insufficient ounces of gold to meet the company's criteria
under the terms of an agreement signed with MAC in late 1995.
AGUA VERDE, PERU
A 13 hole reverse circulation drill program totalling 980 metres has been
completed on this copper porphyry prospect and all samples have been
delivered to the laboratory in Lima.
PERENTI, PERU
A 12 hole reverse circulation drill program totalling 942 metres has been
completed on this gold prospect. All samples have been delivered to the
laboratory in Lima.
MONT DOR, PERU
North Compania Minera SA/Compania Minera Argento Ltda has the option to
earn a 70% interest in this gold prospect. The company's joint venture
partners advise that a 10 hole (150m to 200m each) diamond drilling program
has commenced at this prospect. Previous details of exploration work that
led to this drill program were reported in Stockwatch April 18 1997.
OLLACHEA, PERU
Peruvian has an option to earn a 70% interest in this gold prospect. The
company has recently completed 1,172 metres of trenching and 187 channel
samples, ranging from 2 to 5 metres in length, have been cut from the
trenches. All samples have been delivered to the laboratory in Lima.
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