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Gold/Mining/Energy : Samex Mining | OTC:BB - SMXMF | Canada - V.SXG -- Ignore unavailable to you. Want to Upgrade?

To: rdww who wrote (295)	11/24/1998 4:35:00 PM
From: kfdkfd	Read Replies (2) \| Respond to of 539

SORA SORA GOLD-SILVER PROSPECT, BOLIVIA SAMEX is preparing its Sora Sora precious metal prospect for a reconnaissance drill program. The property lies within the Oruro-Patacamaya polymetallic mineral belt of the Bolivian Altiplano. This belt is one of the richest precious metals regions in Bolivia having been exploited for silver and gold as far back as the Inca period, and on a much wider scale during Spanish Colonial times. The property is situated along an eight-kilometer segment of the Coniri Structural Trend (see map below) which also hosts the world-class Kori Kollo gold mine, situated 60 kilometers to the southeast. Three precious metal targets are positioned along the western base of the Capaja intrusive/volcanic complex where silver, gold and copper were mined in the Laurani District since the 17th century. Several veins on the Sora Sora property were exploited for silver during Spanish Colonial times. SAMEX holds 100% interest in 6,303 hectares comprising the Sora Sora property and an option to purchase 100% interest in an additional 160 hectares for US $160,000. Geologic relationships, geochemical analytical results and geophysical surveys (IP, ground magnetics) indicate the presence of point tothree important sinter/vein hot springs targets which are being explored for precious-metal depositsbei. The North Sinter/Vein and Central Sinter/Vein targets are located 200 meters southeast and 1000 meters south of the Sora Sora village, respectively. These targets likely comprised a single large mineralizing system that is now split and offset 600 to 800 meters along a strike-slip fault. The Central target occupies an area that is at least 800-meters long by 450-meters across; the North target is at least 450-meters long and 350-meters accross. When restored, the two areas once comprised a single, east-northeast-trending vein swarm 1250-meters to 1500-meters long and 450-meters across. Three sinter piles spaced 250-meters and 350-meters apart were deposited along the northwest side of the vein swarm. The restored vein alignment points directly along strike into the east-northeast-trending vein swarms of the Laurani District which were mined for silver-gold and copper. Hence, the two vein swarms are believed to have been formed at the same time, but exposures at Sora Sora are at a higher structural level in the mineralizing system. An IP chargeability response suggests the presence of hot springs, precious-metal mineralization being positioned at shallow depths beneath extensive outcrops of sinter and veins within the Central target area. Although not covered by IP surveys, this target type is likely present beneath sinter of the North target area. The combined size of the Central and North Sinter/Vein target area is permissive for an ore body of 30 million to 50 million metric tons. Hot springs-type deposits can typically host bulk-tonnage ore bodies averaging 2.5 to 3.0 grams/metric ton gold and 12.0 to 20.0 grams/metric ton silver. In addition, t(average grade range of hot springs-type gold deposits). he intense veining and related alteration features, and geochemical signature suggest bonanza-grade vein and vein-swarm targets are present at greater depth beneath the hot spring target. Bonanza-grade precious-metal veins generally average 8 to 10 grams (or more)/metric ton of gold, and 300 to 400 grams/metric ton of silver. A third area of hot springs sinter deposition (South sinter target) is situated approximately five kilometers southeast of the Central and North targets. The South sinter deposit is comprised mostly of silica with minor (chalcedony) veins. The sinter mass is approximately 450 meters long and 150 meters across. In places, underlying and surrounding bedrock can be seen to be clay and/or propylitically altered. IP surveys were not run here, but analytical results show that sinter samples contain anomalous values for silver, arsenic and antimony. The size of the target area is not extremely large but is permissive of a deposit of perhaps eight million to 12 million metric tons. No features indicating the possibility of bonanza-type vein/vein swarm targets are present. If positive results are obtained from drilling the hot springs/bonanza targets, a fourth target (Mantos/Intrusive target) will be tested for bulk-tonnage gold-silver deposits. IP and ground magnetics surveys have indicated the presence of possible sulfide mineralization in a concealed elongate zone outboard and parallel to the Coniri structural trend in an area adjacent to the hot springs/bonanza targets. These geophysical anomalies could represent gold-bearing, partly oxidized mantos or the upper part of a mineralized intrusion. Because there are no outcrop exposures, this target remains speculative. Additional details concerning the Sora Sora property will be released upon completion of drill pad construction. Jeffrey P. Dahl - Vice Chairman