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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Famularo who wrote (638)10/26/1998 11:35:00 AM
From: Gord Bolton  Read Replies (1) of 3282
 


disclaimer


FOR FURTHER INFORMATION PLEASE CONTACT:
Argentina Gold Corp.
Sophia Shane
Corporate Development
(604) 689-7842
Website: www.argentinagold.com
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

--------------------------------------------------------------------------------

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS

FOR: ARGENTINA GOLD CORP.

VSE SYMBOL: ARP

OCTOBER 26, 1998

Argentina Gold Reports Assay Results on Holes 81 and 82
Amable Target - Veladero Project

VANCOUVER, BRITISH COLUMBIA--(ARP - VSE) Argentina Gold Corp. (the
"Company") is pleased to announce the latest results from its
drilling program on the Amable target at the Veladero project in
San Juan, Argentina.

Hole 82 returned 91 metres of 1.488 grams per tonne gold and 35.75
grams per tonne silver including a 33 metre section of 2.14 grams
per tonne gold and 23.8 grams per tonne silver. Hole 82 was
drilled 150 metres to the west of and in section with Hole 76
defining an east-west mineralized section with an extent of more
than 200 metres. Hole 82 showed continuous mineralization to the
end of the hole. Details are in the following table.

/T/

Hole Total Interval From To Gold Silver Gold
Depth (m) (m) (m) (g/t) (g/t) Equiv.
(m) (g/t)(1)

82 318 91 99 190 1.488 35.75 2.20
(including) 33 99 132 2.14 23.80 2.62
128 190 318 0.50 9.15 0.68

Hole Azimuth Angle Distance from Hole 76 (m)
82 270 -80 150 (west)

Previously Reported Holes...

80 300 212 43 255 3.67 47.71 4.62
(including) 144 43 187 5.08 59.36 6.27
51 43 94 3.455 31.39 4.08
(including) 23 94 117 13.94 92.78 15.80
70 117 187 3.35 68.75 4.73
68 187 255 0.696 23.05 1.16

79 312 121 68 189 1.421 56.61 2.55
(and) 19 241 260 0.72 35.63 1.43
(and) 7 289 296 0.82 13.71 1.09

76 340 193 37 230 1.49 55.09 2.592

Hole Azimuth Angle Distance from Hole 76 (m)
80 265 -75 100 (south)
79 270 -75 110 (NNE)
76 270 -75

(1) 1 g/t Au = 50 g/t Ag

/T/

Hole 82 encountered mineralization at the same topographic
elevation (approximately 4,300 m.a.s.l.) as in Holes 76, 79 and
80, providing further evidence of sub-horizontal paleophreatic
control of the gold/silver mineralized zone at the Amable target
and suggesting a favourable uniformity for the area covered by the
drilling so far (approximately 300 metres by 200 metres). The
known thickness of this mineralized oxide zone ranges from 120
metres to 212 metres.

Hole 81 returned gold anomalies in fractured silicified zones up
to 1.15 grams per tonne gold and 66 grams per tonne silver but
intervals were thin and discontinuous. Hole 81 was drilled 200
metres to the north of Hole 76 testing the northeastern section of
the target area. The mineralization was encountered in restricted
structures in the lower part of the hole. These structures
correspond with quartz-alunite-sulphide veinlets that are
interpreted to represent conduits for mineralization but do not
represent favourable areas for dissemination. Geological data
from the area suggest that the hole was drilled at the hanging
wall of one of the major northwest faults that could have resulted
in vertical and/or horizontal displacement of the silicified
uppermost horizon where mineralization controlled by paleowater
tables has been encountered elsewhere in the target.

Holes 83 (200 metres north and 150 metres west of Hole76) and 84
(200 metres south of Hole 76) are complete with assays pending.
Hole 85 (132 metres southwest of Hole 76 and 80 metres west of
Hole 80) 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.

Please visit our new website for maps and detailed information on
the Veladero targets. The website address is
www.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

-30-
Let me know what you think.
Gord
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