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Gold/Mining/Energy : Morgain Minerals MGM "jv with BHP in Mexico" -- Ignore unavailable to you. Want to Upgrade?

To: violetta martinez who wrote (450)	3/11/1998 12:01:00 PM
From: Simon D. Yates	Read Replies (1) \| Respond to of 472

Drilling results, El Compa, Argentina Morgain Minerals Inc MGM Shares issued 20,800,636 Mar 10 close $1.10 Wed 11 Mar 98 News Release Mr Raymond Mongeau reports The company has received positive results of an evaluation study completed on the exploration and drilling programs completed on the Argentina property to date. A total of 29 RC drill holes tested a number of exposed gold-bearing areas as well as geochemical and geophysical anomalies on the property. Less than 20% of the favourable horizons have been tested by drilling. Of the area tested to date, four significant north trending, steeply dipping gold-bearing zones were delineated by widespread RC drilling down to a vertical depth of about 75m. The average lengths, gold values and thickness of these four gold-bearing zones are tabulated below: Hole Core Grade Remarks No. Width Au (m) (g/t) Santa Fe Zone Arg 2 7.6 2.37 2 zones combined Arg 29 3.0 2.00 Arg 28 3.0 0.47 Arg 1 35.0 2.14 2 zones combined Arg 8 18.3 2.08 3 zones combined Arg 19 6.1 7.27 Average true width: 12.2m Average grade: 2.40 g/t Au Length of zone defined by drilling: 250m - open along strike for an additional 250m to the north and 200m to the south. Hole Core Grade Remarks No. Width Au (m) (g/t) Argentina Zones A Zone Arg 13 4.6 5.00 Arg 30 12.2 3.40 2 zones combined Arg 22 24.5 1.26 2 zones combined including surface sampling Average width: 13.8m Average grade: 2.31 g/t Au Length of zone defined by drilling: 350m - open along strike for an additional 300m to the north and 500m to the south. Hole Core Grade Remarks No. Width Au (m) (g/t) B Zone Arg 3 9.1 4.56 Arg 12 3.0 3.09 Average width: 6.0m Average grade: 4.20 g/t Au Length of zone defined by drilling: 120m - open along strike for an additional 550m to the north and 550m to the south. Mr Raymond Mongeau reports The company has received positive results of an evaluation study completed on the exploration and drilling programs completed on the Argentina property to date. A total of 29 RC drill holes tested a number of exposed gold-bearing areas as well as geochemical and geophysical anomalies on the property. Less than 20% of the favourable horizons have been tested by drilling. Of the area tested to date, four significant north trending, steeply dipping gold-bearing zones were delineated by widespread RC drilling down to a vertical depth of about 75m. The average lengths, gold values and thickness of these four gold-bearing zones are tabulated below: Hole Core Grade Remarks No. Width Au (m) (g/t) Santa Fe Zone Arg 2 7.6 2.37 2 zones combined Arg 29 3.0 2.00 Arg 28 3.0 0.47 Arg 1 35.0 2.14 2 zones combined Arg 8 18.3 2.08 3 zones combined Arg 19 6.1 7.27 Average true width: 12.2m Average grade: 2.40 g/t Au Length of zone defined by drilling: 250m - open along strike for an additional 250m to the north and 200m to the south. Hole Core Grade Remarks No. Width Au (m) (g/t) Argentina Zones A Zone Arg 13 4.6 5.00 Arg 30 12.2 3.40 2 zones combined Arg 22 24.5 1.26 2 zones combined including surface sampling Average width: 13.8m Average grade: 2.31 g/t Au Length of zone defined by drilling: 350m - open along strike for an additional 300m to the north and 500m to the south. Hole Core Grade Remarks No. Width Au (m) (g/t) B Zone Arg 3 9.1 4.56 Arg 12 3.0 3.09 Average width: 6.0m Average grade: 4.20 g/t Au Length of zone defined by drilling: 120m - open along strike for an additional 550m to the north and 550m to the south. Hole Core Grade Remarks No. Width Au (m) (g/t) C Zone (Santa Rosa) Arg 31 1.5 2.30 Arg 5 3.0 0.94 Arg 4 4.6 2.20 Average width: 3.0m Average grade: 1.80 g/t Au Length of zone defined by drilling: 100m - open along strike for an additional 450m to the north and 500m to the south. Further exploratory drilling using both the RC and the diamond drilling systems is being planned with the company's geological consultant. Details will be announced upon completion. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com