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

To: Claude Cormier who wrote (628)	11/29/1999 8:12:00 AM
From: Mr Metals	Read Replies (1) \| Respond to of 639

WELL? Eaglecrest Explorations Ltd - Eaglecrest finds high-grade gold at San Simon Eaglecrest Explorations Ltd EEL Shares issued 39,116,763 1999-11-26 close $0.54 Monday Nov 29 1999 Mr. Gary Cope reports Eaglecrest Explorations has received highly encouraging assays from two of the first four of 10 diamond drill holes, which test the recently defined green quartzie shear zone (GQSZ) unit at the San Simon gold project in northeastern Bolivia. The green quartzite is thought to represent a complex east-west striking zone of shearing and alteration with a steep southerly dip, a true width of about 45 metres and an inferred length of at least 6.5 kilometres. Native gold is erratically distributed within the GQSZ in both vertical and flat-lying structures, which may occur in enchelon or stacked configurations. Based on results from hols 99-12, 9917 and previously reported hole 99-2, high grade gold occurs within the GQSZ over a strike length of at least 300 metres. Total sample metallic screen fire assay results: Bearing/Dip Total From To Length (degrees) depth(m) (m) (m) (m) ----------- ------ ------ ------ ------ Hole ESS-99-02* 135/-45 121.9 118.90 121.90 3.00 Hole ESS-99-12 180/-45 170.69 86.50 104.50 18.00 incl. 86.50 98.50 12.00 Hole ESS-99-17 360/-45 172.82 70.60 120.00 49.40 incl. 86.87 108.10 21.23 incl. 86.87 91.50 4.63 incl. 87.63 88.35 0.72 and 103.50 108.10 4.60 Results (g/t Au) -------- Hole ESS-99-02* 135/-45 121.9 16.86 Hole ESS-99-12 180/-45 170.69 4.47 incl. 6.55 Hole ESS-99-17 360/-45 172.82 1.90 incl. 4.18 incl. 16.26 incl. 83.30 and 2.55 * previously reported, hole ended in GQSZ unit 250 metres east of ESS-99-12 Hole 99-12 was drilled subparallel to the dip of the GQSZ, 250 metres west of hole 99-02. Hole 99-17 was designed to scissor the cluster of visible gold occurrences in hole 99-12 and determine the true thickness of the GQSZ. Holes 99-09 and 99-10, drilled 650 metres west and 350 metres east, respectively, of holes 99-12 and 99-17, did not contain significant gold values. Both of these holes were drilled down-dip and did not cut the entire width of the GQSZ. Four other holes drilled outside the GQSZ cut only narrow intervals of low-grade gold mineralization. Results received to date from diamond drilling and a continuing surface bulk sampling program continue to support a bulk-tonnage, open pittable mineralized zone with grades of approximately two to three grams per tonne containing high-grade intervals such as those in holes 99-2, 12 and 17. The GQSZ has been intersected by drilling over a strike length of 1.1 kilometres, and on the basis of geological mapping and geochemistry, can be projected an additional 2.9 kilometres west of the Buriti pit. The structure may be inferred to extend an additional 2.5 kilometres, based on geophysical data. Native gold has been observed in the GQSZ over a vertical range extending from oxidized hematite-rich outcrops to a depth of 140 metres in drill hole 99-12, where it occurs with primary sulphides, predominately arsenopyrite. The irregular distribution of the generally high-grade coarse gold in the GQSZ present a continuing challenge. The company continues to use a total sample metallic screen method for assaying core and may attempt to resolve the overall deposit grade by taking large underground bulk samples. Gary Cope, president of Eaglecrest Explorations, stated that the encouraging results to date have prompted the company to plan an expanded program for the new year. Work will be concentrated along the GQSZ to identify other occurrences of high-grade gold mineralization; and on a neighbouring conglomerate target, over 20 kilometres in length, where surface sampling has yielded gold in both the matrix and quartz pebbles. Assays are pending from the remaining six holes that intersect the GQSZ, with results expected by mid-December. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com MM