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Gold/Mining/Energy : ARP - V Argentina Gold

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To: Rocket Red who wrote (256)	10/9/1998 12:09:00 PM
From: Mr Metals	Read Replies (1) of 3282

Argentina Gold Corp - Veladero drill results Argentina Gold Corp ARP Shares issued 33,113,389 1998-10-08 close $0.8 Monday Oct 12 1998 NEWS RELEASE October 8, 1998 (ARP - VSE) - Argentina Gold Corp. (the "Company") is pleased to announce the first results of the 1998/1999 drilling program at the Company's Veladero project in San Juan, Argentina. Analysis of the first 182 metres of Hole 79 returned an open-ended mineralized intercept of 114 metres of 1.488 grams per tonne gold and 55.2 grams per tonne silver (2.592 g/t gold equivalent). Hole 79 was drilled 110 metres north-northeast of last season's Hole 76 which returned 193 metres of 1.49 grams per tonne gold and 55.09 grams per tonne silver. The partial results of Hole 79 illustrate the uniformity of the mineralization and geology at the Amable target. The Amable target is a large geophysical/geochemical anomaly of 800 metres by 300 metres at the southeast flank of the Cerro Pelado anomaly. Total Gold Depth Interval From To Gold Silver Equiv. Hole (m) (m) (m) (m) (g/t) (g/t) (g/t)** ---- ----- -------- ---- --- ----- ----- ------ 79 312 114 68 182* 1.488 55.2 2.592 Previously Reported ... 76 340 193 37 230 1.49 55.09 2.592 * assays below 182 m are pending ** 50 g/t Ag=1 g/t Au Hole 80 (drilled 100 metres south of Hole 76) and Hole 81 (drilled 200 metres north of Hole 76) are complete with assays pending. Drilling of Hole 82 (located 150 metres west of Hole 76) is underway. Approximately 6,000 metres of drilling is scheduled at the Amable target The Amable target is located 2.5 kilometres to the southeast of the Filo Federico and NW targets from which the Company recently received an independent resource estimate of 2.4 million ounces of gold and 75 million ounces of silver. The Amable target has the potential to host a similar resource as the Filo Federico target with lesser overburden and higher grades. Several structurally controlled zones has shown to contain high-grade gold mineralization within a silicified tabular zone of more than 150 metres. The geological model established for the Amable target based on the results from Hole 76 and geophysical and geochemical data is so far confirmed with the drilling conducted to date this season. From near surface, strong silicification with abundant oxides (jarosite) affects the tuff ring breccias which transitionally grade into basement crystalline tuffs. Please visit our new website for maps and detailed information on the Veladero targets. The website address is: argentinagold.com. Argentina Gold is the operator of the Veladero project holding a 60 percent interest. The Company's partner, Barrick Gold Corp., holds the remaining 40 percent. ON BEHALF OF THE BOARD "J. Patricio Jones" President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. ARGENTINA GOLD CORP. Telephone: (604) 689-7842 Facsimile: (604) 689-4250 website: argentinagold.com For further information, please contact: Sophia Shane, Corporate Development (604) 689-7842 (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals

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