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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (1233)	8/9/2001 10:14:49 AM
From: ralfph	Respond to of 8273

ELD gets better and better. I like the copper hit and the width is sweet as well. Eldorado Gold Corp - Eldorado Gold completes first Sayacik drilling program Eldorado Gold Corp ELD Shares issued 102,285,772 Aug 7 2001 close $.280 Aug 8 2001 12:39:05 Mr. Paul Wright reports Eldorado Gold has completed its first reconnaissance drilling program at its Sayacik prospect located six kilometres southwest of the company's Kisladag project where drilling to date has defined a resource of 6.7 million ounces of gold. The drilling program at Sayacik consisted of four widely spaced reverse circulation holes totalling 1,000 metres. The alteration and mineralization at Sayacik strongly resemble the lithocap material at Kisladag where anomalous lead and silver are hosted in advanced argillic alteration flanking the deposit. The holes tested approximately one-third of a three-kilometre-long semicircular geophysical and silver soil geochemical anomaly situated near the centre of the Beydag stratovolcano. The geophysical and geochemical anomalies are hosted in dacite porphyry and related tuffs that have been subjected to advanced argillic alteration. Rock chip samples containing anomalous silver up to 50 parts per million have been collected from outcrops in a 500-metre by 1,000-metre area within the broader silver and lead soil geochemical anomaly. Holes SRC-1 and SRC-2, spaced approximately 100 metres apart on the north side of the target zone cut 250 metres and 330 metres of advanced argillic alteration containing anomalous silver and lead mineralization. Slightly elevated gold values were intersected in restricted zones near the bottom of both holes. Holes SRC-3 and SRC-4, drilled in a fence on the west side of the target, also intersected sections of advanced argillic alteration containing anomalous silver and lead. Additionally, hole SRC-3 cut high-grade copper mineralization from 37.5 metres to 42.5 metres grading 8.2 per cent Cu, followed by 137 metres from 42.5 metres to 180 metres grading 0.1 per cent Cu. The higher grade copper intercept is associated with a five-metre-wide to 25-metre-wide north-northeast trending silicified structure that outcrops intermittently for approximately 1,200 metres across the west side of the prospect and has a coincident chargeability anomaly. The geophysical and geochemical data at the prospect are being re-evaluated for possible near surface high-grade gold and copper targets. Au Ag Hole From To Length ppb ppm SRC-1 2.5 250 245 - 7.6 Incl. 182.5 212.5 30 42 16 SRC-2 0 332.5 332.5 - 7.5 Incl. 300 332.5 32.5 62 0.9 SRC-3 0 202.5 202.5 - 4.4 Incl. 37.5 42.5 5 - 0.4 Incl. 42.5 180 137.5 - 5.0 SRC-4 0 215 215 13 5.2 Cu Pb Hole From To Length ppm ppm SRC-1 2.5 250 245 175 541 Incl. 182.5 212.5 30 679 354 SRC-2 0 332.5 332.5 112 1,081 Incl. 300 332.5 32.5 9 37 SRC-3 0 202.5 202.5 832 430 Incl. 37.5 42.5 5 8.2 149 Incl. 42.5 180 137.5 1,042 186 SRC-4 0 215 215 113 363 Zn Hole From To Length ppm SRC-1 2.5 250 245 196 Incl. 182.5 212.5 30 262 SRC-2 0 332.5 332.5 506 Incl. 300 332.5 32.5 767 SRC-3 0 202.5 202.5 158 Incl. 37.5 42.5 5 10 Incl. 42.5 180 137.5 175 SRC-4 0 215 215 48 Samples from the reverse circulation drilling are prepared at Eldorado's sample laboratory in Turkey according to procedures established by Micon International. Sample pulps are shipped to Chemex Laboratories in Vancouver for gold fire assay with A.A. finish and multielement ICP analysis. Chemex is certified to ISO 9002. Duplicates, splits, blanks and known standards are inserted according to industry practice prior to shipment to Chemex. "The results, which reflect the initial testing of only 30 per cent of the Sayacik prospect, are very encouraging and confirm the validity of Sayacik as a target meritous of further exploration. The existence of high-grade copper mineralization close to surface associated with a structure on surface traceable over 1,200 metres is of particular interest," commented Paul Wright, president and chief executive officer. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com gotta go to the big smoke ralfph