David,
While we're patiently awaiting more results from Pilzhum, here is other news:
ÿ
<Picture: NEWS RELEASES>
Company: Jersey Goldfields CorporationSymbol: JRGExchange: VSETelephone: (604) 683-5651Fax: (604) 684-9365Toll Free: Website: E-mail: ÿ
Work Resumed on Two Projects in Southern Ecuador
Gerald R. Newcomen, President of Newen Enterprises Inc., announces that work has resumed on two projects in Southern Ecuador. Newen and Barkhor Resources Inc. hold an option from Jersey Goldfields to acquire a 66 2/3% interest.
The Palenque property located 20 km east of Pasaje, consists of a metamorphosed sedimentary unit of Mesozoic age, generally referred to as the Palenque ophiolitic complex which has been extensively intruded by the Tertiary aged granodiorites. Work has shown all rock units making up the 1,294 hectare concession have been exposed to extensive silicification. Gold values are widespread within all the rock units (5 of 8 holes in recent drilling reporting elevated gold), occurring as small particles (Sample #448 initially assayed 137 ppb, and reassayed 4,639 ppb, over 1.90 metres).
The new program involves test pitting and trenching in drainages located 3.5 km east of the recent drilling. Here is observed a linear silt geochemical gold anomaly with values typically 3,000 to 5,000 ppb. The target is a linear control structure which has served to channel and focus gold bearing solutions into a deposit with economic potential. The new zone is approximately 1.5 km in length.
In another region of Ecuador, the 2,192 hectare Quimera property is being mapped, rock sampling and prospecting to allow for any early drill program. This concession is located 40 km east of Cuenca and straddles a drainage between two heights of land, a drainage which is the center of extensive placer mining each spring as seasonal high water recede. The mapping is being assisted with structural detail provided by satellite radar images.
The Company further announces that it has now filed certified true copies of outstanding map stake licenses in connection with the acquisition of certain mineral claims located in the Voisey's Bay region of Labrador, Newfoundland as conditionally accepted for filing by the Vancouver Stock Exchange on October 29, 1995. |
