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Gold/Mining/Energy : ARP - V Argentina Gold -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (250)	9/25/1998 12:40:00 PM
From: Greywolf	Read Replies (1) \| Respond to of 3282

1998/1999 drilling program started at the Veladero project Friday Sep 25 1998 The company has started its 1998/1999 drilling program at the Veladero project in San Juan, Argentina. The first hole, hole V98-79, approximately 110m NNE of hole V98-76 at the Amable target, is directed to test the geophysical, geochemical and geological anomaly first tested by hole 76 in the previous season. Hole 76 returned 193m of 1.49 g/t gold and 55.09 g/t silver. So far, at a depth of 67m, hole 79 has shown a similar geology to that of hole 76. From 30m down, a strongly silicified breccia with several types of veinlets of silica is being logged. The drill program at Amable comprises several holes (approximately 6,000m) at an initial spacing of approximately 100m north and south of discovery hole 76. The Amable geophysical/geochemical anomaly is of elliptical shape measuring 800m (N-S) by 300m (E-W). Last season's results from the Amable target were not included in the Filo Federico target resource estimate provided by independent consulting engineers. Resource estimates are currently at 2.4 million ounces of gold and 75 million ounces of silver. Less than 20 per cent of the Veladero project area has been explored to date. In addition, a 2,000m diamond drilling program is planned for the Filo Federico target to further delineate higher grade zones encountered last season and to check for possible losses in fines. The Filo Federico resource area is open in all directions with potential extensions to the southeast, south and southwest into the Amable target. Argentina Gold is the operator of the Veladero project, holding a 60 per cent interest. The company's partner, Barrick Gold Corp., holds the remaining 40 per cent.