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Gold/Mining/Energy : Peruvian Gold Ltd. PVO
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To: Taylorm. who wrote (569)7/16/1998 11:56:00 AM
From: kidl  Read Replies (2) of 892
 
Not being very versed in geology myself, I asked another SI member who's knowhow I have come to appreciate by lurking on other threads.
He allowed me to publish his response but asked me to stress the point that this is his personal opinion only. Also note his PS:

I have looked at the release and see a bunch of low numbers. Really too early to tell but...

The geological description contains the correct words (i.e. leached cap, alteration zones etc.) but the numbers are nowhere near economic. Low numbers near surface or the tops of these systems are not unusual, they are usually indicators of supergene (present weathering has dissolved sulphide and moved the Cu to lower parts of the system or hypogene (during mineralization the fluids themselves re-mobilized the Cu to lower parts of the system) mineralization.

A copper porphyry must be huge to be economic. Typically 400-600 mT or more (0.60-0.88+? Cu) which must include very large (200m type) intersections. On top of this is the fact that the price of copper is in the crapper makes this release on the low end. Ask the company what other metals were analysed for.

Conclusion for an investor:
Poor results but not "terminal" I guess, need to watch very closely to see if more information is available which might give a better indication of the mineral potential. I can't see the markets liking these results.

For the potential investor:
Backshelf material at best

FWIW

P.S. I am a geophysicist so I could also be full of S**T:-)

BTW, I did email the company as per his suggestion and will post the reply if and when I get it

kidl

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