Off Topic but related play. Seems a good one to watch for this Aug/September. Check out the web site.
Opawica Explorations Inc. - New Discovery In Valle del Cura, Argentina
TORONTO, ONTARIO--
/T/
Stock Options: 220,000 at $0.75
Non-Transferable Wts.: 1,500,000 at $1.25
Shares Issued: 10,848,933
Restricted / Non-Transferable Shares: 3,375,000
/T/
Opawica Explorations Inc. ("Opawica" / the "Company") is pleased
to announce a potential new discovery on its Cura Este property in
the Valle del Cura district, Argentina, based on the latest
results from an on-going field program. Attention has been
focused on this general area as a result of developments on the
Veladero Project of Argentina Gold/Barrick (greater than 5 million
contained oz Au) and the Pascua-Lama Project of Barrick (greater
than 20 million contained oz Au).
The new discovery is located between 4,000 and 4,800 metres
elevation and constitutes a suite of porphyries, tourmaline-barite
breccias, silicified breccias, quartz stockworks, polymetallic
veins and surrounding alteration zones occurring in an area in
excess of 20 km in diameter. There are no previous reports of
mineralization from this area.
To date, results for 200 out of approximately 500 samples are
available. The exposed porphyries at surface returned values in
the 0.2-0.7 g/t Au and 30-50 ppm Mo range based on an initial 16
grab samples. Grab samples from silicified breccias,
tourmaline-barite breccias, quartz stockworks and pyrite-rich
polymetallic veins returned values between 0.5-5.5 g/t Au and
silver content in some narrow polymetallic veins ranged up to
1,320 g/t based on selective grab sampling.
The system is still open to the north, south and west. Several
stream sediment values in the 0.1-0.2 g/t Au range indicate that
the mineralization may extend further than the actual areas where
rock samples were collected.
The samples were analyzed by American Assay Laboratories in
Mendoza, Argentina, by standard atomic absorption techniques, with
checks by Australian Laboratories System in the same city; a
second check on selected samples is being carried out by Lakefield
Research in Canada.
This discovery, although still in its infancy, underscores
management's belief in the geological prospectivity of this area.
Final results for the current field season are expected by
mid-May. The current field program is oriented towards defining
drill targets for the next field season that starts in the fourth
quarter of this year.
Furthermore, drilling continues on the joint venture properties
with Falconbridge Limited in Kidd and Carnegie Townships, Ontario
and results will be released as they become available.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Opawica Explorations Inc.
Dan M. Clark
President
(416) 597-1480
(416) 597-1479 (FAX)
or
Opawica Explorations Inc.
Prentice W. Durbin
Comptroller
(416) 597-1480
(416) 597-1479 (FAX)
Email: info@opawica.com
Website: www.opawica.com
fin-info.com |
