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Gold/Mining/Energy : Ballad Ent.;BDC.Vancouver

BDC 118.43

-0.3%

Dec 24 12:59 PM EST

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To: Renato Pujatti who wrote (77)	4/25/1998 2:13:00 AM
From: arizona_ice_tea	Read Replies (1) of 107

Further Exploration to Commence on Santa Cruz De Mayo Project, Adjacent to Pierina Deposit, Northern Peru Date: Fri, 24 Apr 1998 13:16:48 -0700 Ballad Enterprises Ltd. ("Ballad") is mobilizing exploration crews to complete its Phase I exploration program on the Santa Cruz de Mayo gold prospect in Northern Peru. The Santa Cruz de Mayo concession is a gold prospect strategically located less than 700 metres from Barrick Gold's Pierina gold deposit near Huaraz in Northern Peru. The concession is surrounded by Barrick Gold concessions. In addition, Ballad's Fabiola Gold Project lies adjacent to Barrick Gold's concessions approximately 2.5 kilometers to the northwest of the Santa Cruz de Mayo concession and Pierina deposit. The Pierina deposit has reported reserves in excess of 7.5 million ounces of gold in a near surface, heap leachable deposit. Geologic mapping to date shows the concession is underlain by Cretaceous Carhuaz Formation and Tertiary Calipuy volcanic rocks and intruded by dacite porphyry. Quaternary alluvium, colluvium and glacial debris cover about 60% of the property. Many of the outcrops, especially the dacite porphyry, are altered and/or mineralized with areas of argillization and pyritization. The work program will examine in detail the alterations to determine extent and quality of the metal anomalies. On Ballad's nearby Fabiola Gold Project, Ballad has identified several drill targets and decisions to further evaluate the property through a Phase II drill program await the results of the Santa Cruz de Mayo exploration program. Ballad has reached an agreement with the optionors of the Santa Cruz de Mayo concession to extend the payment for the exercise of its option to acquire the Santa Cruz de Mayo by four months to allow Ballad to complete its investigation of the property area prior to deciding whether to exercise the option. Exploration in 1998 had been delayed as a result of weather conditions. Ballad's acquisition of the Santa Cruz de Mayo property area is subject to acceptance for filing by the Vancouver Stock Exchange. BALLAD ENTERPRISES LTD. Anthony J. Beruschi President ************************************************************** Ballad Enterprises Ltd. VSE - BDC Suite 501 - 905 West Pender Street 604-682-7159 Vancouver, BC, V6C 1L6 N.America : 1-888-880-2288 www.canvest.com/ballad/ Gold Exploration in South America ballad@express.ca Questions ? Investors? E-mail us. **************************************************************

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