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Gold/Mining/Energy : Southwestern Gold -- Ignore unavailable to you. Want to Upgrade?

To: Kath Legein who wrote (141)	8/9/1999 7:43:00 PM
From: 1st.mate	Respond to of 585

NEWS--NEWS--NEWS--NEWS VANCOUVER, BRITISH COLUMBIA--Southwestern Gold Corporation (SWG-T) is pleased to announce that the Company has been informed by Pasminco, operator of the Accha Joint Venture, that a third phase of drilling is to commence shortly. The Accha Joint Venture area is located about 80 kilometres south of Cuzco in southern Peru. Previous drilling and a scoping study defined an indicated and inferred oxide resource of 9 million tonnes grading 9 percent zinc containing 810,000 tonnes (1.8 billion pounds) of zinc metal. Ongoing exploration work in the surrounding district, including soil sampling and geophysics, indicate significant potential to add to these resources. The drilling program will consist of between 10 and 20 drillholes to test several extensive zinc/lead soil anomalies and to test for possible downdip extension of mineralization intersected in hole SA-7. Hole SA-7 at a downhole depth of 314.9 metres intersected an interval of 24.5 metres grading 8.8 percent zinc. Both zinc oxide and sulphide targets will be tested. A positive scoping study completed in 1998 indicated that the Accha Project has the potential to produce low cost zinc metal at production rates of around 75,000 tonnes (165 million pounds) of zinc cathode per year. On completion of the drilling program and positive delineation of further resources a comprehensive pre-feasibility study is planned. Southwestern Gold Corporation presently has over 22 joint ventures with companies including Newmont, PanAmerican Silver, Teck, Pasminco, Paramount Ventures, Southern Peru Copper, Minorco, Cambior and Cedimin. The Company is exploring for diamonds in Brazil and Canada through its 54.7 percent owned subsidiary, Canabrava Diamond Corporation, in partnership with Kennecott/Paramount and SouthernEra. Pasminco, based in Australia, is one of the world's largest integrated producers of zinc and currently produces approximately 524,000 tonnes per year of refined zinc metal. The Company has production facilities in Australia, the Netherlands and the United States. Pasminco is presently bringing on stream the Century deposit in Australia which is one of the largest undeveloped zinc resources in the world. Now I am no English major but the mis-spellings are not acceptable(LOL)