TO ALL....NEWS TODAY !!!
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Peruvian Gold Limited - News Release
Drill program completed, El Encanto, Ecuador
Peruvian Gold Limited PVO
Shares issued 10,718,000 Nov 12 close $2.52
Tue 12 Nov 96 News Release
Mr David Henstridge reports
A 29 hole drill program totalling 2,493 metres has been completed at the El
Encanto prospect in northern Ecuador. Demobilization of the drill rig from
the site commenced on Monday, November 11 1996. Drilling has been
undertaken in the vicinity of previous trenching at the prospect,
particularly near trenches 1, 2, 4, 5 and 7.
Drilling has intersected an interlayered sequence of granodiorite and
quartz-monzonite, well fractured in places containing variable quantities
of quartz veining. Around trenches 1 and 2 the drill holes revealed the
rocks to be highly fractured, weathered and possibly leached. The rocks
intersected in the vicinity of trenches 4, 5 and 7 are more competent,
silicified and less weathered. Sulphides, particularly pyrite, are more
prevalent.
Initial assay results have been received for drill holes 1 to 9 near
trenches 1 and 2. Sporadic low grade gold results were intersected in four
of the drill holes with a best result of 6.5 g/t Au over four metres in
drill hole DD2. Core from the remaining 20 holes is progressively being
split and forwarded to Vancouver for assay.
(c) Copyright 1996 Canjex Publishing Ltd. canada-stockwatch.com
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What's the take on this release....I don't see the stock moving on this release, just to keep us hanging on. More assays to come may show more reason to invest.
Anyone here that can interpret the news ??? |
