if you are concerned about management, the end of September is the general meeting ... usually things shake up !!!
and the latest assay results are as follows ...
(how the market is up 2 cents today !)
El Misti Gold Ltd -
Sinchao project drill program update
El Misti Gold Ltd
EMGShares issued 21,324,643
1998-08-13 close $0.22
Friday Aug 14 1998
Mr. Robin Slaughter reports SDD-07 From 11 to 369 metres (1,174.5 feet) averaged 0.54 g/t gold, 14.1 g/t silver, 0.31 per cent copper, and 0.29 per cent zinc. Assays have been received to 369m and included a 64m intercept from 305 to 369m (210 ft.) which averaged 1.03 g/t gold, 48.8 g/t silver and 1.16 per cent copper. The interval from 305 to 331m was reported in Stockwatch on August 5. SDD-05 From 104 to 452m (1,141.7 ft.) averaged 0.37 g/t gold, 14.7 g/t silver, 0.52 per cent copper and 0.44 per cent zinc. Assays have been received to 498.7m (hole bottom) and included a 136m (446.2 ft.) intercept from 316 to 452m which averaged 0.40 g/t gold, 16.8 g/t silver and 0.70 per cent copper. SDD-02 From 408 to 410m (6.6 ft.) intercepted 264.66 g/t gold, 19.3 g/t silver, 0.37 per cent copper and 0.42 per cent zinc. This result represents a re-assay using the blaster sample preparation method.
From To Interval Au Ag Cu Pb Zn
(m) (m) (g/t) (g/t) % % %
Hole SDD-02
128 142 14 0.20 8.3 0.55 - -
222 408 186 0.19 7.0 0.42 - 0.08
incl.
300 354 54 0.14 8.7 0.69 - 0.03
408 410 2 264.66 19.3 0.37 0.12 0.42
410 628 218 0.23 5.9 0.38 - 0.09
incl.
410 470 60 0.49 9.6 0.51 - 0.18
Hole SDD-05
104 452 348 0.37 14.7 0.52 0.12 0.44
incl.
230 294 64 0.51 21.5 0.76 0.19 0.89
and
316 452 136 0.40 16.8 0.70 - 0.26
incl.
316 334 18 0.44 29.5 1.10 - 0.16
and
350 360 10 0.53 24.5 1.12 - 0.10
SDD-07
11 369 358 0.54 14.1 0.31 0.12 0.29
incl.
197 369 172 0.90 26.3 0.63 0.15 0.37
and
305 369 64 1.03 48.8 1.16 0.15 0.27
From 331.0m to 369.0m hole SDD-07 intercepted skarn type mineralization composed mainly of epidote and chlorite. Disseminations, veinlets and clusters of pyrite, magnetite, chalcopyrite, sphalerite and minor galena are also present. From surface to a depth of 5.2m SDD-02 intercepted overburden. Moderately silicified, weakly argillized dacite volcanics with disseminations and stringers of pyrite and enargite were intercepted from 5.20m to 200.0m. A zone containing a hydrothermal breccia composed of volcanic, intrusive and massive pyritic fragments was intercepted from 200.0 to 299.9m. From 299.9 to 500.2m moderately argillized dacite volcanics with disseminations and veinlets of pyrite and disseminations of enargite were intercepted. A porphyritic intrusive of intermediate composition, weakly propilitic with disseminations and stringers of pyrite and minor disseminations of chalcopyrite and magnetite were intercepted from 500.2 to 629.7m. Drill hole SDD-05 from surface to a depth of 18.0m intercepted overburden. From 18.0 to 129.6m are weakly silicified dacite volcanics with disseminated pyrite and minor disseminated enargite. A skarn zone with epidote-chlorite, disseminated pyrite, chalcopyrite and minor disseminated sphalerite, galena and magnetite was intercepted from 129.6 to 325.9m. A hydrothermal breccia with clusters of pyrite and enargite, with less chalcopyrite, in the matrix was intercepted from 325.9 to 4518.7m. Phase I drilling has been completed for the 1998 program which included 5,175.7m of diamond drilling and 1,508.5m of reverse circulation drilling. This decision has been taken to allow the company to catch up on receipt of assays, complete a geological interpretation at Sinchao and receive independent geological reporting. The annual information filing for El Misti Gold was filed by July 30, 1998. The B.C. Securities Commission advised that the AIF was accepted as filed Aug. 6, 1998. The company will be filing its updated AIF in due course. The holders of the series A convertible debentures have requested and received conversion of their debt instruments of El Misti Gold shares. This reduced the company debt by $1,980,000 and increased issued and outstanding capital by 6.6 million shares. The company has granted incentive stock options to purchase up to 525,000 shares in the capital stock of the company, exercisable for three years ending Aug. 14, 2001 at 30 cents per share. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
