Hi: Here's the news release we've been waiting for, it came out after Friday's closing.
>>>>First Trinidad assays
Eaglecrest Explorations Ltd EEL
Shares issued 9,772,266 Dec 13 close $1.75
Fri 13 Dec 96 News Release
Mr Victor Lahmer reports
The company has received the first set of assays from the autumn diamond
drilling program now completed on the Trinidad zone on Sam Simon gold
project in northeastern Bolivia. The current drill program was undertaken
along the Trinidad vein and within the La Rosa stockwork showings over a
distance of 600m. This program was designed to test the structural
continuity of the gold bearing Trinidad vein and to also test the width and
depth potential of the La Rosa stockwork system. Hole 96TRD-007, which was
drilled 25m behind 96TRD-001, encountered the gold bearing Trinidad vein,
but drilled under the projected ore shoot. Hole 96TRD-008 drilled 100m to
the east of 96TRD-001, encountered the Trinidad vein, but only marginal
mineralization was encountered. Holes 96TRD-009 and 96TRD-010 tested the
peripheral edges of the La Rosa stockwork system and encountered localized
stockworking. Mineralization was disseminated throughout. Holes 96TRD-011
through to 96TRD-026 were drilled in the main areas of mineralization.
Within the Trinidad vein and La Rosa stockwork system new adits and pits
have been dug by local surface miners who are recovering coarse gold and
generating 100 to 200 grams of gold per ton. These new areas have been
sampled to verify these gold values and results will be released shortly.
Along strike 700m to the west of the Trinidad pit area, new workings have
also been opened up. These new workings coincide with recent geophysical
induced polarization targets which were previously undetected. Eaglecrest
is encouraged by this as 96TRD-026 was drilled close to this new area and
encountered a well mineralized section that was previously unknown.
Results from the first four holes, 96TRD-007 through to 96TRD-010 are:
Hole From-To Width Gold
No. (ft) (ft) oz/t
96TRD-005 6.8- 75.5 71.8 0.037
including 9.5- 39.4 29.9 0.087
96TRD-006 22.9- 92.5 69.6 0.049
including 58.4- 87.6 29.2 0.107
96TRD-007 233.6-266.7 33.1 0.016
including 243.4-252.9 9.5 0.019
96TRD-008 No significant values
96TRD-009 No significant values
96TRD-010
partial 0- 24.9 24.9 0.013
The assay results that have been received from the first 10 drill holes are
encouraging as they indicate that the Trinidad vein/La Rosa stockwork
system is continuous, is enriched with gold, and is enriched at depth.
These results are characteristic of most known world class mesothermal gold
deposits of this magnitude and Eaglecrest will continue to prove the
resource base in the Trinidad system.
The balance of TRD-10 through TRD-26 drill core samples are in the process
of being prepared for assaying and will be released shortly.
(c) Copyright 1996 Canjex Publishing Ltd. canada-stockwatch.com
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Any comments, is this good? Stock price was low on Friday before the release.
Thanks
Dorothy |
