Rondal Gold Corp -RGD (formerly Prior Resources - PQL) Message Board

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Gold/Mining/Energy : Rondal Gold Corp -RGD (formerly Prior Resources - PQL)

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To: Jimsy who wrote (196)	1/28/1997 11:25:00 AM
From: Robert Saito	of 331

Prior Resources Ltd. PQL ASE January 28, 1997 Acquisition of Option to Purchase the Mazatleca Property Mexico Dalton B. DuPasquier, President of Prior Resources Ltd. is pleased to announce that the Company has acquired an option to purchase a 100% interest in the Mazatleca property which is located approximately 30 kilometers north of Mazetlan, Mexico. The option is exercisable by paying a total of $258,000 U.S. in various instalments, the last of which is November 25, 1999. The property is subject to a 3% net smelter returns royalty. The property is flat farmland with low ridges which contain the apparent mineralized veins. The area is covered with dense vegetation during the wet season. Hydro lines cross the property. The area was discovered by Manuel Trejo about ten years ago. He was hi-grading the veins which are numerous sub-parallel and could form stocking work groupings that would give potential for a bulk tonnage low grade deposit. The area lies in the Sinaloa Gold Belt in the foot hills of the Sierra Madre Occidental. These are the largest expense of Tertiary volcanics in the world and contain many producing gold and silver mines. The geological map of Sinaloa lists the rocks as Oligocene and Pliocene undifferentiated volcanics composed of ignimbrites and rhyolitic breccias, andesitic breccias and pyroclastic basalts. The mine with values of 4 grams of gold per ton, 716 grams of silver per ton and 2.6% lead lies in undulating hills composed of acid volcanics which have been extensively altered, argillized, fractured, brecciated and silicified. The gold (1 to 4 grams per ton ) and silver (42 to 325 grams per ton) appear in the areas that are oxidized, silicified and hematized. The host rock is probably silicified volcanics and there is some evidence of an acidic intrusive. An oxidized porphyry system is possible. Many large quartz veins are evident and there are zones of pervasive alteration surrounding the mineralized hills. The project needs to be geologically mapped, geochemically sampled and trenched to look for the bulk tonnage potential and lead up to a drill program. The agreement is subject to the approval of the Alberta Stock Exchange. TEL: (604) 682-0410 Dalton B. DuPasquier, President

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