And a happy and prosperous one to you Ron. I don't mind you pushing me at all here. I think this area is hot, and if PFG turns out the way I expect it to it is going to get a lot hotter. Noticed you bought some PFG. Welcome aboard!. Must say I still have not made up my mind about ARB. Have you ever looked into PUM.v , Puma resources. Clive Johnson also is involved with that one and they are also in the same area.
Low key company, they gave up on a property earlier in the year which caused a big sell-off.
Robert
BTW, this newsrelease sums up some of PUMA's activities.
NOVEMBER 21, 1996
Puma Minerals Announces Exploration Update
VANCOUVER, BRITISH COLUMBIA--Puma Minerals Corp. is pleased to
announce the following update on its exploration activities in
Argentina. Ongoing reconnaissance and property acquisition have
been active since March of this year, focusing on recognized gold-
bearing epithermal belts located in the Puna region of north
western Argentina. Puma has acquired *seven* new properties,
two of which are currently undergoing a program of advanced
reconnaissance and target definition, namely the El Torno zone
and Oratorio/Timon Cruz zone.
EL Torno:
Puma now controls 12,800 hectares (32,000 acres or 50 sq. miles)
through option to purchase 100% and direct staking at El Torno.
Historic mining in this district has focused on high-grade
mineralization associated with a regional anticline. Puma has
defined a zone of gold-bearing alteration and dissemination
sulfides approximately 3 kilometers long and up to 500 meters
wide. Grab samples from this contain up to 10.9 grams per tonne
gold. Channel sampling has been limited by poor exposure but
includes up to 1.99 grams per tonne gold over 3 meters. El
Torno has the potential to host bulk-tonnage gold mineralization
within favorable structural and lithologic zones. Drilling will
commence at El Torno in January.
Oratorio/Timon Cruz:
Puma controls 7760 hectares through direct staking in this
historic gold-producing district comprised of the Oratorio zone
and Timon Cruz zone. The Oratorio zone includes two discreet
zones of anomalous to ore grade gold mineralization within an
overall alteration package 12 kilometers long between 400 to 900
meters wide.
In the north zone, anomalous silt and rock chip samples occur over
an area of 2000 by 600 meters. Gold values up to 6.93 grams per
tonne occur within sulfide filled fault zones and breccias. In the
south zone, anomalous gold up to 1.06 grams per tonne occurs in
silts and rock chips over a 1500 by 400 meter area. At Timon Cruz
gold mineralization occurs within a favorable structural setting
over an area 4 kilometers long and 1.5 kilometers wide. Grab
samples of 1.24, 2.13 and 28.16 grams per tonne were collected
during first-pass sampling. Additional work is planned to define
controls to mineralization and bulk-tonnage potential.
Uspallata Project:
Puma has completed three additional deep diamond drill holes on
the El Salado porphyry target on the Uspallata Project, where the
company has an option to earn a 50 percent interest. Assay results
from these holes are pending and will determine the direction Puma
will take towards the Uspallata Project.
Puma has, subject to regulatory approval allocated 200,000 common
shares for employee incentive stock options. These options may be
exercised in whole or in part until November 21, 2001 at a price
of $0.51 per common share.
Puma Minerals Corp.
John Anderson
604-681-8371 |
