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Gold/Mining/Energy : Corriente Resources V.CTQ Junior Exploration Co. -- Ignore unavailable to you. Want to Upgrade?

To: WillC who wrote (1405)	7/7/2000 11:47:06 AM
From: WillC	Read Replies (2) \| Respond to of 1416

Haywood says, Encouraging results from Mirador Project Ed Flood, M.Sc. 604-647-6917 "Corriente released encouraging results from an initial drill program on the Mirador Project. In general terms, the drilling has intersected relatively thick (approximately 100 to 200 metres) moderate copper and gold mineralization with a weighted average of 0.62% Cu and 0.23g/t Au in a porphyry system. The drill holes form a generally NNE-trending zone that is some 300 metres wide and 600 metres long. Overall, there is no discernable pattern to the grades encountered. They range from 100 metres grading 0.42% Cu in hole 9, to 152 metres grading 0.80% Cu in hole 15, both holes lying near the centre of the pattern. Drill hole 13 located at the southern extension of the sequence graded 0.54% Cu over 119 metres, while drill hole 17 at the northern end graded 0.56% Cu over 93 metres. This consistency of grade is characteristic of a porphyry system. The press release does note that some of the higher grades appear to be controlled by intrusive breccia bodies cutting the porphyry. As noted in the opening sentence, these are encouraging results for a first-phase program in a series of mineralized systems outlined in an extensive surface exploration program. The Company's statement hits the nail on the head: the goal of the program is to identify sources of greater than 1% copper in secondary enriched zones to complement the larger bread-and butter tonnages of primary mineralization, such as those outlined in the current results. It also notes that most of the drill holes bottomed in mineralization, and that the mineralization is open along strike to the north and south. Drilling continues with the intent of completing an east-west fence across the deposit. It is still early in a focused program aimed at defining a major copper deposit in a frontier area of Ecuador. Results to date indicate that the program is on track. We continue to recommend the stock at these price levels." Comment: In doing the Cu/Au conversion mentioned yesterday the Mirador weighted average is .74% compared with Bingham Canyon .72% --not bad.