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

To: b a mitchell who wrote (575)	7/30/1998 7:45:00 PM
From: kidl	Read Replies (1) \| Respond to of 892

Lara drilling to start next week Peruvian Gold Limited PVO Shares issued 14,227,466 Jul 30 close $0.42 Thu 30 Jul 98 News Release Mr. David Henstridge reports The company has let a drilling contract to start in the first week of August 1998. This is the third drill program at the Lara porphyry copper prospect and will consist of seven reverse circulation and four diamond drill holes to test the grade, lateral and vertical continuity of secondary copper mineralization discovered in previous drill programs. The Lara mineral claims, 400 kilometres south of Lima, Peru, are underlain by a highly altered intrusive body that appears to be the leached capping of a copper porphyry deposit. The leached cap area measures at least 1km north-south by 1.5km east-west. An IP survey conducted in 1997 yielded encouraging results and has extended the potential target area eastward, covering an area of 6 square km. Two drill programs undertaken in 1997, discovered a chalcocite-rich blanket of mineralization overlying primary sulphides in the northwest sector of the prospect area. Significant copper results were discovered in nine of the previous drill holes ranging from 38 metres of 0.32 per cent Cu in LRC 3 to 24m of 1.12 per cent Cu in LRC9. The company believes these results are significant. The current area of influence identified by drill holes LRC 4 to LRC 12 is about 700m by 500m and the chalcocite blanket intersected in the drill holes remains open in all directions. As results from RC drilling are often underestimated when chalcocite is present, the program will include several diamond drill holes that will twin the mineralized zone in earlier RC drill holes. Two of the holes to be twinned with diamond drilling will be LRC 9 (24m at 1.12 per cent Cu) and LRC 11 (22 m of 0.69 per cent Cu) as both of these drill holes were terminated in high grade mineralization. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com