Assay results from Virgen drill program
Gitennes Exploration Inc GIT
Shares issued 26,212,831 Aug 5 close $0.64
Thu 6 Aug 98 News Release
Mr. Jerry Blackwell reports
Gitennes Exploration has released assay results from the remainder of the
underground drill program on the Zona Rio Suro section of the Virgen
property, Peru. Four drill stations were used. From south to north, results
include:
Hole
--------
From - To Length Au Ag Station
(m) (m) g/t (ppm)* No.
------------- ------ ---- ----- -------
VUG98-12
76.81-206.87 130.06 1.17 5.8 4
VUG98-13 (abandoned at 2.44m)
_ _ _ _ 4
VUG98-07
0-150.26 150.26 1.10 1.7 3
including
32.92-42.06 9.14 4.11 2.4
VUG98-08
0-76.01 76.01 1.95 2.1 3
including
14.63-32.91 18.28 5.06 3.1
also
96.93-129.81 32.88 1.01 0.9
VUG98-09
0-139.60 139.60 1.42 2.1 3
including
11.58-23.77 12.19 5.48 1.9
and
29.26-42.06 12.80 3.52 1.2
VUG98-10 (incl. 1.52m of 0% recovery)
0-129.54 129.54 1.50 6.0 3
including
21.65-30.48 8.83 6.76 4.6
and
114.30-129.54 15.24 3.24 22.3
VUG98-11
(short hole to test geological contact)
0-47.85 47.85 2.12 1.7 3
VUG98-14
1.9-54.86, 52.96 1.52 2.2 2
including
14.40-26.60 12.20 3.88 6.5
also
77.91-100.58 22.67 0.82 1.8
VUG98-15 (hole drilled up to surface)
0-49.83 49.83 2.25 1.0 2
including
0-17.38 17.38 5.38 2.1
VUG98-16
0-126.49 126.49 2.73 3.6 2
including
9.14-74.68 65.54 4.31 4.4
VUG98-01**
0-68.10 68.10 2.07 6.9 1
including
0-25.20 25.20 4.03 6.4
and
25.20-68.10 42.90 0.92 7.2
VUG98-02** (incl. 3m of 0% recovery)
0-67.49 67.49 1.43 3.7 1
including
0-13.50 13.50 4.76 12.2
and
13.50-67.49 53.99 0.60 1.5
VUG98-03** (hole lost at 76m, redrilled)
_ _ _ _ 1
VUG98-04** (hole drilled up to surface)
0-30.30 30.30 6.02 7.0 1
VUG98-05** (incl. 1.8m of 0% recovery)
0-169.0 169.0 1.43 6.4 1
including
0-12.00 12.0 9.84 18.3
and
12.00-115.65 103.65 0.75 1.9
and
115.65-169.00 53.35 0.84 10.8
VUG98-06**
0-168.86 168.86 2.63 5.7 1
including
0-36.27 36.27 8.72 6.2
and
36.27-168.86 132.59 0.95 5.5
* Note that silver values are
geochemical analyses, and are not
assay values. Results may slightly
increase or decrease with assaying.
** denotes previously released results
The objective of the underground drill program is to begin the definition
of a proven ore reserve to a minimum vertical depth of 150m. The holes
demonstrate continuity of the ore zone, including the high-grade eastern
edge. The Zona Rio Suro oxide gold zone is at least 600m long, with the
125m long segment reported here representing one of three high grade
sub-zones which have exceptional development potential, equating to our
version of Payback Hill.
In addition to these results exceeding earlier expectations, new features
have been encountered. Previously it was thought that the zone was cut-off
by the Alumbre fault. Several holes have encountered ore grade material on
the other (east) side of the fault, indicating possible additional mineable
tonnage in this direction. The zone remains open to the south, as
demonstrated in VUG98-12, and appears to be increasing in size.
Additional Zona Rio Suro metallurgical results have been received. Full
scale column tests on run-of-mine underground samples, simulating a leach
pad environment, project gold extractions between 77 per cent and 88 per
cent, suggesting our target of overall 80 per cent recovery is correct.
Cyanide and lime consumption is very low, and very rapid leach kinetics are
evident, with recoveries exceeding 63 per cent after the first 15 days.
Tests on crushed and milled ore samples resulted in marginal increases in
gold recovery (5-8 per cent), suggesting that the added capital costs to
construct a crusher and mill is not warranted.
Currently, the company is completing a thorough review of the project, with
the objective of calculating initial Zona Rio Suro ore reserves, and
planning more exploration drilling at Virgen. Additional information on the
project will be released upon completion of this review.
Plans and cross sections illustrating these results are available from the
company.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
