more results ...
********* Please note that the text is readable but for some reason when i cut and paste, the stats are "scrambled". the whole press release can be found on the company's web site www.elmisti.com
NEWS RELEASE
February 12, 1999
VSE-EMG
Sedar Profile #00003879
Sinchao Project Drill Results -- Summary
The Board of Directors of El Misti Gold Limited is pleased to summarize current diamond drill results for
its wholly owned Sinchao Project in northern Peru located some 450 km north of Lima and 30 km from
the Yanacocha Mine, South America's largest gold producer. These results confirm the presence of a
large copper-gold-zinc-silver system with potentially economic grades amenable to open pit mining. The
deposit remains open laterally in all directions and there is potential for several hundred million tonnes of
mineralization. The analytical results were provided by Intertek Testing Services (Bondar Clegg). The
quality assurance for all aspects of the diamond drill program has been provided by Howe Chile Ltda., a
subsidiary of ACA Howe Ltd.
Drill holes SDH-10, SDH-5, SDH-6 and SDH-7 have delineated mineralization over a length of 640 metres
and a width of 300 metres with an average thickness of 478 metres. Preliminary test work indicates a
specific gravity of 2.6. These measurements indicate a potential for a mineralized zone of
approximately 239 million tonnes at a grade of 1.45g/t gold equivalent (Cu equiv. 0.84%). This
includes 163 million tonnes at a grade of 1.70 g/t gold equivalent (Cu equiv. 0.99%) which includes 111
million tonnes at a grade of 2.18 g/t gold equivalent (Cu equiv. 1.27 %). The mineralization is
polymetallic whose value is derived approximately 38% from copper, 24% from gold, 23% from zinc and
15% silver. The accompanying map (not available in e-mail format, please check the Company's web
site) shows the area of mineralization defined by the current diamond drill results.
Additional results for drill hole SDH-10 and previously released results are set out in Table 1 and are
summarized below. Gold and copper equivalent grades have been calculated for each of the significant
mineralized intercepts on the basis of in-ground values using the following metal prices: US $287/oz
gold, US $5.55/oz silver, US $0.72/lb copper, and US $0.52/lb zinc.
Hole SDH 10: 490 (1,181 feet) metres of mineralized intercept at a gold equivalent grade of 1.61 g/t (Cu
equiv. 0.94 %).
Hole SDH-5: 495 (1,636 feet) metres of mineralized intercept at a gold equivalent grade of 1.59 g/t (Cu
equiv. 0.92 %).
Hole SDH-6: 602 (1,850 feet) metres of mineralized intercept at a gold equivalent grade of 1.22 g/t (Cu
equiv. 0.71 %).
Hole SDH-7: 592 (1,810 feet) metres of mineralized intercept at a gold equivalent grade of 1.36 g/t (Cu
equiv. 0.79 %).
At Sinchao, to date, the Company has undertaken geological mapping, geochemical sampling and
ground geophysics followed by drilling. During 1997, twelve RC holes (1,768 metres) were drilled and
during 1998, seven RC holes (1,174.5 metres) and ten diamond drill holes (5,176.25 metres) were drilled.
The Board is highly encouraged with the mineralization and potential of the Sinchao project and has
retained well known and highly respected independent geologist Lindsay R. Bottomer, P. Geo to review
all Sinchao project data and help the Board formulate the appropriate next steps for 1999.
Table 1 - Diamond Drill Results
SDH-10
From
(m)
To
(m)
Interval
(m)
True
Depth
(m)
Au
g/t
Ag
g/t
Cu
%
Zn
%
Gold
equivalent
g/t
Copper
equivalent
%
0
490
490
424
0.46
13.49
0.35
0.24
1.61
0.94
including
134
212
78
68
0.78
29.86
1.01
0.55
3.78
2.20
With highlights such as:
90
100
10
9
1.81
19.76
0.10
1.73
4.51
2.62
and
134
148
14
12
1.32
44.81
1.02
1.46
5.75
3.35
and
198
212
14
12
0.70
31.31
1.82
0.05
4.50
2.62
SDH-5
From
(m)
To
(m)
Interval
(m)
True
Depth
(m)
Au
g/t
Ag
g/t
Cu
%
Zn
%
Gold
equivalent
g/t
Copper
equivalent
%
4
499
495
429
0.29
11.45
0.38
0.34
1.59
0.92
including
102
452
350
303
0.37
14.67
0.52
0.44
2.09
1.22
including
104
130
26
23
0.89
23.92
0.46
1.18
3.61
2.10
and
230
294
64
55
0.51
21.47
0.76
0.89
3.34
1.94
and
316
452
136
118
0.40
16.80
0.70
0.26
2.25
1.31
SDH-06
From
(m)
To
(m)
Interval
(m)
True
Depth
(m)
Au
g/t
Ag
g/t
Cu
%
Zn
%
Gold
equivalent
g/t
Copper
equivalent
%
6
608
602
546
0.23
7.49
0.26
0.33
1.22
0.71
including
36
88
52
47
0.17
38.05
0.28
0.48
1.98
1.15
and
158
492
334
303
0.30
5.58
0.27
0.47
1.46
0.85
including
356
492
136
123
0.53
5.27
0.32
0.59
1.91
1.11
SDH-07
From
(m)
To
(m)
Interval
(m)
True
Depth
(m)
Au
g/t
Ag
g/t
Cu
%
Zn
%
Gold
equivalent
g/t
Copper
equivalent
%
5
597
592
513
0.40
11.45
0.29
0.19
1.36
0.79
including
11
389
378
327
0.54
13.86
0.30
0.28
1.67
0.97
including
191
389
198
171
0.84
23.69
0.56
0.32
2.66
1.55
Map showing the outline of the mineralization at Sinchao as defined by current diamond drill
results
For further information, please contact Marie Antoinette Shields -- Market Finance Development.
Phone: (604) 681-6186
Direct Fax: (604) 681-3652
Web site: www.elmisti.com
On behalf of the Board,
"John Huguet"
John Huguet, Chairman & CEO
"Arthur Fisher"
Arthur Fisher, Director
For geological content:
"V. Jaramillo"
V. Jaramillo, Chief Geologist
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news
release.
1005 - 750 W. Pender Street, Vancouver, BC, Canada V6C 2T8
Tel: (604) 681 6186 Fax: (604) 681 3652 Toll Free: 1-888-356-4784
Email: info@elmisti.com Website: www.elmisti.com
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