Peruvian Gold Ltd. PVO Message Board

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Gold/Mining/Energy : Peruvian Gold Ltd. PVO

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To: E. T. who wrote (139)	2/12/1997 5:55:00 PM
From: Matt Cecile	of 892

Here's the release in text format: Peruvian Gold Limited PVO Shares issued 10849781 1997-02-11 close $1.95 Wednesday Feb 12 1997 News Release Mr David Henstridge reports The company has received results from a preliminary induced polarization survey on its 100% owned Lara porphyry copper property, west-central Peru. About 3.5 line km have been surveyed from the centre of the porphyry target area. Extremely high chargeability values, of up to 65 millivolts/volt, were obtained from the centre of the porphyry, and the company's geophysical consultant interprets the depth of the chargeable material occurring between 68m and greater than 200m below surface. This could represent a significant total sulphide content within the porphyry. The Lara property was mapped in detail in 1995, and the findings at that time suggested that the property had all the indications of a weathered porphyry copper deposit. The leached capping has dimensions of around 1km north-south by at least 1.5km east-west. An examination of the residual limonite in the leached rock suggests that chalcopyrite and pyrite have been completely removed from the surface, yet the limonite still yields anomalous copper levels in rock samples. Of particular interest is the presence of malachite dispersed throughout young colluvial overburden in one exposure along a creek. This phenomenon could be caused by the remobilization of copper from a supergene zone, and it is possible that a high grade chalcocite blanket may envelope the core of the porphyry system. This exposure occurs 500m east of the centre of the target area, and the chargeabilities between these sites range from 32 millivolts/volt to 75 millivolts/volt. The results are significant and warrant immediate and extensive follow-up. The company has expanded the induced polarization geophysical survey, extending outwards in all directions to define the extent of the porphyry body; results of this program will be available shortly. Upon review of the data, a minimum 1,000m reverse circulation drilling program to depths of 200m will be started in early March 1997. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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