David, Dan and All,
Nov 13 Release:
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Jersey Goldfields Corp - News Release
Palenque concession assay results, Ecuador
Jersey Goldfields Corp JRG
Shares issued 18,275,644 Nov 12 close $0.75
Wed 13 Nov 96 News Release
See Newen Enterprises Inc (NEP) News Release
Mr Gerald Newcomen reports
Palenque Concession (BHO 1/3, JRG 1/3, NEP 1/3)
An eight hole, 810 metre diamond drill program to drill test coincident
geochemical and geophysical gold anomalies has been completed. Elevated
gold values were intersected in five of the eight holes. Diamond drill hole
No. 6 intersected gold mineralization over 68 metres and was still in
mineralization at the bottom of the hole.
The following is a breakdown of assays to date:
Sample Interval Au Assay
Rock Unit No. (m) (gm/mt)
--------- ------ ---------- --------
Hole No. 1, Location 825N 600E
Phyllite 191-321 69.7- 71.2 .102
Phyllite 191-322 73.3- 74.8 1.107
Hole No. 2, Location 1176N 575E
Phyllite 191-329 36.0- 39.0 .141
Hole No. 3, Location 825N 800E
Phyllite 191-358 37.3- 38.5 .458
Hole No. 4, Location 1050N 800E
Phyllite No values of interest
Hole No. 5, Location 950N 950E
Phyllite No values of interest
Hole No. 6, Location 1300N 800E
Phyllite 191-436 75.4- 76.8 .125
191-437 78.3- 79.2 .273
191-438 80.7- 82.0 .346
191-439 86.0- 87.3 .248
191-440 91.0- 91.9 .272
191-441 95.0- 96.4 .213
191-442 99.8-101.4 .157
191-443 101.4-102.7 .112
191-445 109.9-111.5 .109
191-446 111.5-113.0 1.092
191-447 114.3-116.1 .360
191-448 116.1-118.0 .137
191-456 141.8-142.3 .171
191-457 142.3-144.1 .342
Hole No. 7
Granodiorite
Altered Breccia No Value of interest
Hole No. 8, Location 650N 800E
Altered Phyllite
191-470 14.3- 16.0 .128
191-471 16.8- 17.9 3.14
Work completed to date indicates a substantial gold system is present on
the property. A follow up program of further trenching, soil sampling and
drilling is expected to start within two weeks.
La Quimera Concession
Exploration on this concession, which is 20 miles NE of the Palenque
property, will start in conjunction with the work at Palenque.
Previous results of 25 stream silt samples at La Quimera returned 12
samples of greater than 2,000 ppb Au over an area of approximately 10
square kilometers. The highest result was 9,200 ppb Au.
Chip samples of hydrothermal quartz veins from old workings returned assays
up to 5.25 opt Au and 23.3 opt Ag. Samples of metre size siderite float
returned 33.5% Fe, 1.3% Mn, 2,315 ppm Cu and 1,637 ppm Ni.
The program planned here will include soil sampling, trenching, geophysics
and drilling.
It was felt that the mineralization found in this area may represent the
source for the richest historical gold placers anywhere in Ecuador which
were mined by the Spaniards as early as 1542.
(c) Copyright 1996 Canjex Publishing Ltd. canada-stockwatch.com
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Dan Byrne |
