There were two news releases in mid-January
Message 7343445
1/12/99 -
Eskapa Precious Metal Prospect, Bolivia
SAMEX MINING CORP ("SXG-V;SMXMF-L") - Eskapa Precious Metal Prospect, Bolivia
Robert E. Kell, Vice President, Exploration of Samex Mining Corporation announces that SAMEX is preparing the Eskapa prospect in Bolivia for a core drilling program to test a large precious-metals target outlined by reconnaissance exploration work completed to-date. The Eskapa property is located in the southwestern part of the Bolivian Altiplano, not far from the Chilean frontier and is logistically well situated with excellent access. The property was once explored and worked on a small scale for oxide silver during the Spanish Colonial era and was later explored and an attempt made to prepare it for production in the late 1800's by an unknown Chilean concern. SAMEX holds an 99% interest in a 2,885 hectare concession covering the entire prospective area and includes land suitable for infrastructure needed for a large mining project.
Regional Geologic Setting - The Eskapa property is situated within the Cordilleran Occidental which is a broad belt of late-Tertiary to Quaternary andesite stratovolcanoes and related lava flows. The property geologic setting is distinctly different in character and isolated from other precious-metal deposits and polymetallic mineral belts of the Bolivian Altiplano.
Property Geologic Setting - The Eskapa stratovolcano (late-Tertiary) is comprised of outward dipping andesitic to dacitic flows and appears to be directly centered over the intersection of regional fault zones. The prospective area of the Eskapa property measures 1700-meters long by 800- to 1000-meters across. This area is in highly altered, younger, volcanic rocks and related domal porphyry intrusions emplaced in the extensively eroded out, central portion of the stratovolcano. The relief is not rugged, providing relatively ready access and ease of road building into and around the prospective area.
Exploration Work - Exploration work completed to-date has been reconnaissance in nature and includes: geologic mapping, rock-chip and dump sampling, and a limited amount of IP surveys (four widely spaced lines totalling five line kilometers). Road access into the property was completed and a network of roads giving access over the entire prospective area is currently being constructed. Four trenches totalling 1600 meters have also been excavated across the prospective area. These will be deepened and at least four more trenches are planned. At present, systematic, rock-chip channel sampling along rock outcrops in newly cut road and trench exposures is being carried out. Additional rock chip sampling is being focused in accessible Spanish Colonial-era piques (narrow, irregular shaft-like workings) which are scattered across the target zone. Assay results from sampling and more-detailed descriptions of the target and in-place nature of the sulfide mineralization will be reported in upcoming news releases.
TEL: (604) 870-9920
Samex Mining Corp., Corporate Office FAX: (604) 870-9930
Robert E. Kell, Vice President, Exploration TOLL FREE: 1-800-828-1488 EMAIL: samex@direct.ca INET : www.samex.com
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