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Gold/Mining/Energy : Peruvian Gold Ltd. PVO
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To: Robert who wrote (137)2/10/1997 5:28:00 PM
From: Walter Kalin   of 892
 
Perenti exploration results; drill program planned

Peruvian Gold Limited PVO
Shares issued 10,849,781 Feb 7 close $1.80
Mon 10 Feb 97 News Release
Mr David Henstridge reports
The company has completed trenching and a geophysical survey at its 100%
owned Perenti gold prospect in south-central Peru. Eleven trenches, up to
2m deep, have been completed over a strike length of 1km to test highly
anomalous gold values obtained from silicified and brecciated boulders and
outcrops along a north westerly trending fault cross-cutting limestone,
siltstone and shale. The following table summarizes the trenching results:

Width Au
Trench No. (ft) (oz/t)
---------- ----- ------
1 59.0 0.08
2 32.8 0.03
2A 13.1 0.04
2B 19.7 0.07
3 78.7 0.03
including 26.2 0.06
4 131.2 0.06
4B 13.1 0.06
5 78.7 0.03
including 39.4 0.06
6 26.2 0.01
7 no significant values
8 157.4 <0.01
9 98.4 0.01
10 39.4 <0.01
11 216.5 0.02
including 39.4 0.07

Six lines of induced polarization were undertaken at the Perenti prospect
using a 200m line spacing. A well defined resistive zone possibly
reflecting a prospective silicified target occurs over a distance of 1km
with a width up to 200m and is coincident with the northwest trending
fault. The gold values, listed above, lie along the western edge of this
resistive zone. The area also has weakly anomalous chargeability.
The coincident structure and gold geochemistry with positive geophysical
results justify a drill program. The company is planning a minimum 1,000m
reverse circulation drill program. Tenders for the drilling have been
called with a likely starting date in late March.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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