Minvita Enterprises Ltd -
La Victoria exploration results
Minvita Enterprises Ltd MVE
Shares issued 5,714,827 1998-08-11 close $0.21
Wednesday Aug 12 1998
See Teuton Resources Corporation (TUO) News Release
Mr. Dino Cremonese reports
Teuton Resources and Minvita Enterprises have received a field report concerning work on the La Victoria property, 22km southeast of the San Nicolas polymetallic discovery of Western Copper-Tech Minerals in the state of Zacatecas, Mexico. The La Victoria property is under option to Thunderbird Projects. Thunderbird has assigned half of its interest in the option agreement to Consolidated Sarabat Gold.
Thunderbird's geologist reports that 140km of reconnaissance induced polarization surveys over two grids have been completed to date. A strong IP anomaly associated with a low resistivity zone occurs on line 700S near station 6650E, another IP/resistivity anomaly occurs on line 900S, stations 7200E-7550E.
Very recently, the IP crews have been moved to test a promising geochemical anomaly derived from sampling of water well drill cuttings. The anomalous sample returned assay values of 6.66 per cent lead, 0.89 per cent zinc and 84 g/t silver. The local area is covered by 30m of overburden with no surface indications of geology. Preliminary geophysical lines over the water well anomaly area have given high chargeability and very high resistivity anomalies that are still open to the south.
Satellite image interpretation places the anomalous areas close to the boundary of the Real de Angeles caldera. This prominent ring structure hosts the famous Real de Angeles silver-lead-zinc mine, formerly one of the largest silver producers in Mexico. Real de Angeles was discovered by the Spanish in the late 1500s and wa sporadically worked for the next three hundred years for high-grade, oxidized silver veins. In 1982 it began operation as a large scale open-pit mine, processing ore at rates up to 18,000 tons per day.
The next stage of work at La Victoria will entail detailed real section IP surveying over the three anomalous areas to refine drill targets. It is estimated that the initial program will require six to 10 holes of NQ diamond drilling to depths of at least 250m.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
