El Misti exploration results from Sinchao project in Peru
El Misti Gold Ltd EMG
Shares issued 40,590,777 Mar 31 close $0.12
Thu 1 Apr 99 News Release
Mr. John Huguet reports
The company has released the following update for the Sinchao project in
Northern Peru.
The company has completed ICP analysis, performed by Intertek Testing
Services - Bondar Clegg, of the three most significant potentially economic
styles of mineralization at Sinchao. This work shows from more than 3,000
metres of drill core, arsenic values average 278 parts per million (or less
than 0.03 per cent). The results from SDH-02, drilled within the Volare
concession, high-sulphidation epithermal mineralization, average 438 parts
per million (or 0.04 per cent) over the entire length of the 629.7-metre
hole. While some results showed high enargite and the corresponding arsenic
value, the overall averages are well within acceptable limits.
Preliminary metallurgical work undertaken by the Independent Engineering
University in Lima, Peru, and initial petrographic work performed by
PetraScience Consultants Inc. of Vancouver, B.C., (which includes SDH-02,
05, 06, 07 and 10, plus 1997 holes SRC-07 and 11) have confirmed that the
logged moderate levels of enargite in parts of the skarn and breccia hosted
intersections were incorrect. The dominant copper mineral (with the
exception of SDH-02 above) encountered to date is chalcopyrite with lesser
bornite and only trace enargite and copper oxides.
Further to its news release in Stockwatch, March 29, 1999, the company has
now released the drill results from SRC-13, drilled on El Misti Gold's
Cleopatra mining concession, 750 metres south of the previously reported
mineralization. This represents a new exploration target within the Sinchao
project area. The 150-metre hole intersected 58 metres of interpreted skarn
and massive sulphide mineralization grading 0.42 per cent Cu, 0.26 grams
per tonne gold, 1.20 per cent zinc and 19.97 grams per tonne silver from 56
to 114 metres.
As a result of the company's more complete understanding of the different
styles of mineralization at Sinchao, all of the reverse circulation chips
and drill core from previous drilling programs at Sinchao will be relogged
during this quarter.
|
