El Misti Gold Limited (EMG V) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : El Misti Gold Limited (EMG V)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: robert b who wrote (235)	6/22/1998 6:08:00 PM
From: robert b	Read Replies (1) of 513

results of diamond drilling >>> PRESS RELEASE - June 19, 1998 SINCHAO- DRILLING UPDATE HOLE SDH-02: Completed at 629.7 metres in a porphyry. The last 10 metres intersected magnetite (traces) and pyrite (3-5%) mineralization. Ground water in flow stopped the hole. HOLE SDH-03: Completed at 492 metres. This hole intersected volcanics from 46 to 210 metres containing pyrite mineralization (1-10%) averaging 3%. Marginal skarn mineralization was intersected from 210 to 413 metres with magnetite content averaging 2% and pyrite content (1-5%) averaging 2%. HOLE SDH-05: Current depth 502 metres. This hole intersected and mineralized volcanic breccia from 325 to current depth containing pyrite 1-15% (averaging 4%). HOLE SDH-06: Current depth 722 metres. Skarn mineralization intersected from 160 metres to hole bottom containing magnetite (0-5% to 60%) average 8% and pyrite (1 to 10%) averaging 5%. The skarn mineralization has verified the magnetic geophysical anomaly. HOLE SDH-07: Current depth 40 metres. The company is awaiting assays for the diamond drill holes above. SINCHAO-HIGH GRADE GOLD INTERCEPT HOLE SDH-02: Intersected 10.62 ozs/tonne gold over two metres from 408 to 410 metres. This represents the average of three fire assays on the same sample. The company advises that caution should be taken in the interpretation of this result. The true width, depth and strike extents are unknown. The drill sample will be resampled and reassayed using screen metallic methodology. The assay however highlights the importance of undertaking screen fire (metallic gold) check assays for the Sinchao project. Petrology results (SDH-05 at 206.55m) received have also identified the presence of free gold as grain of cuproaurite a rare copper gold mineral surrounding pyrite crystals. Native silver was detected together with massive potassic feldspar associated with chlorite. This finding has both assay methodology and metallurgical implications for the project. SINCHAO-PROPERTY The Mirtha and the San Nicolas concession acquisitions announced on April 16, 1998 expand the area of Sinchao 100% owned by El Misti to 820 ha. Sinchao adjoins the Tantahuatay project which is a joint venture among Southern Peru Copper 44.2% Buenaventura 40.1% and the Piaggio family (15.7%) as the Coimalache joint venture. The joint venture has announced a resource of 25 million tonnes of oxide grading 0.8 g/t gold and 350 million tonnes of sulphide grading 0.85% copper and 0.3 g/t gold confirmed as gold copper porphyry.(Refer Informativo Mensual: Sociedad Nacional Mineria y Petroleo April 1998 Year 7 No. 4). SINCHAO-QUALITY ASSURANCE PROGRAM Howe Chile Limitada have advised the diamond drill samples can be accepted with a reasonable degree of confidence. However, when the assay duplicates, blank standards, multi-element standards, inter-laboratory analytical checks and assay methodology checks are completed on the diamond drill hole samples, the assay data will have a better degree of confidence. On Behalf of the Board John F. Huguet ÿExecutive Chairman Robin A. Slaughter ÿPresident & CEO "El Misti Gold is focused on growth in shareholder value through its land position, management team and industry expertise." The Vancouver Stock Exchange has neither approved nor disapproved the information contained in this news release.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next