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Gold/Mining/Energy : El Misti Gold Limited (EMG V) -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (472)	7/13/1999 1:23:00 PM
From: Natedog	Read Replies (1) \| Respond to of 513

El Misti geological report on Sinchao completed El Misti Gold Ltd EMG Shares issued 40,590,777 Jul 12 close $0.08 Tue 13 Jul 99 News Release Mr. Arthur Fisher reports A geological report on the Sinchao property, within the Yanacocha-Hualgayoc mining district in the department of Cajamarca in Northern Peru, has been completed and is available to interested parties. The report concludes that the combined potential size of the targets in the Sinchao property is considerable and that further work is warranted. A two-stage 11,000-metre diamond drilling campaign that includes metallurgical test work and detailed geological mapping to cover the entire 1,300-hectare Valle de Sinchao area has been recommended. El Misti has drilled 8,450 metres, in 31 reverse-circulation and 10 diamond drill holes, at Sinchao over the last two years. This drilling has identified four distinct styles of mineralization: a large copper-gold-zinc-silver skarn system, a copper-gold-silver mineralized fault and breccia zone, a high sulphidation copper-gold epithermal mineralized zone, and copper-gold-silver replacement manto-type massive sulphides. The skarn target underlies the core of a magnetic anomaly that lies between the mineralized fault and breccia zone and the interpreted contact of the San Miguel diorite to the east. This area is a 1,300-by-600-metre oval. Drill hole SDH-06 intersected 502 vertical metres of skarn alteration within which from 158 metres to 466 metres (308 metres) graded 0.31 grams per tonne Au, 5.79 g/t Ag, 0.26 per cent Cu, 0.51 per cent Zn. Five holes were drilled within 140 metres southeast of SDH-06 and only one was directed into the anomaly. The best of these holes (SRC-11) intersected 202 metres of skarn (from 98 metres) grading 0.60 g/t Au, 17.27 g/t Ag, 0.45 per cent Cu and 0.82 per cent Zn. The skarn target remains open north and northeast and the centre of the anomaly has yet to be drill tested. The mineralized fault and breccia zone is currently defined by intersections from five drill holes over a strike length of 350 metres within a 2.3-kilometre long resistivity geophysical anomaly that runs lengthwise through the property. The southernmost of the holes, SDH-07, intersected 376 metres (from 11 metres) grading 0.55 g/t Au, 14.1 g/t Ag, 0.31 per cent Cu, and 0.29 per cent Zn including 198 metres (from 189 metres) grading 0.88 g/t Au, 24.6 g/t Ag, 0.58 per cent Cu and 0.34 per cent Zn. Within the centre of the zone is a mineralized breccia. this breccia has been intersected by two holes (SDH-05 and 10). SDH-05 intersected 126 metres (from 326 metres) grading 0.41 g/t Au, 17.95 g/t Ag and 0.69 per cent Cu while SDH-10 intersected 118 metres (from 176 metres) grading 0.53 g/t Au, 18.54 g/t Ag and 0.72 per cent Cu. The high-sulphidation epithermal zone has only been tested with one diamond drill hole to date. The high sulphidation mineralization within the Volare concession is a continuation of the Tantahuatay deposit, which is located immediately to the southwest of the property. SDH-02 intersected 254 metres (from 216 metres) grading 0.37 g/t Au, 7.8 g/t Ag and 0.44 per cent Cu including 94 metres (from 376 metres) grading 0.74 g/t Au, 11.34 g/t Ag and 0.48 per cent Cu. This intersection is 200 metres from the southwestern corner of the concession. The company believes that the skarn and the high-sulphidation targets were formed by separate mineralizing systems each associated with the San Miguel and Tantahuatay intrusions that now form both the ridges of the Sinchao Valley. The Sinchao fault zone then formed through the centre of the property positioning the two contrasting styles of mineralization beside one another and hence creating three distinct zones of mineralization adjacent to one another. El Misti Gold feels that the considerable potential of these targets requires further drilling in order to establish their respective tonnage and grades. The skarn, mineralized fault and breccia, and high sulphidation epithermal targets each have the potential to contain bulk tonnage open pittable mineralization. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com