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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: Taylorm. who wrote (555)	5/5/1998 7:15:00 PM
From: Taylorm.	Read Replies (1) \| Respond to of 892

news release: Peruvian properties review Peruvian Gold Limited PVO Shares issued 14,227,466 May 4 close $0.67 Tue 5 May 98 News Release Mr. David Henstridge reports Peruvian Properties Tingo: Road access and drill pad construction at Tingo copper porphyry prospect is nearly complete, and a drill contract has been awarded for a minimum 1,000 metres to be undertaken later this month. At Tingo, a mineralized porphyry 3 kilometres by 1 kilometre has been outlined with a coincident geophysical IP anomaly. Holes are programmed to reach 200 metres depth. Lara: Preparation for a third drill program at the Lara porphyry copper prospect has been completed, and a 14 drill hole program will start following the completion of the Tingo drill program. Previous drilling at Lara discovered an enriched chalcocite blanket overlying a copper porphyry. Best results in the previous drilling were 24 metres at 1.12 per cent Cu in LRC9 and 26 metres at 0.73 per cent Cu in LRC12. In addition to further reverse circulation drilling, some diamond drilling is planned to twin some of the holes to verify the grade and test the mineralization at depth. Ollachea: The uncertainty regarding title to one claim covering this prospect has been clarified by the review board attached to the Ministry of Energy and Mines of Peru. As a result, the company's ability to earn 100 per cent interest in this claim has been confirmed and once the official notification of title has been received, a minimum 1,000 metre drill program will be undertaken on the mineralized zone. The Ollachea gold prospect is in the Puno department of Peru, northwest of Lake Titicaca, southeastern Peru and is covered by three claims totaling 2,700 hectares. Previous trenching at the prospect gave best results of 30.5 metres at 3.6 grams per tonne Au and 49.5 metres at 1.2 grams per tonne Au. Gold mineralization is hosted by pyritic shales and slates interbedded with quartzite and is associated with pyrite and minor chalcopyrite in quartz. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com