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

To: Rocket Red who wrote (311)	10/16/1998 7:25:00 AM
From: Mr Metals	Read Replies (2) \| Respond to of 3282

IUC on the TSE (CDN 40c) is the sister company of ARP. Another beaten down jem IMHO. Could IUC be the next to run???? Mr Metals P.S I heard IGCO/OTC:BB that's trading at 17/32nds could be the next big mover. I don't know that much about her, so if it doesn't rocket please don't shoot me.

To: Rocket Red who wrote (311)	10/16/1998 10:22:00 AM
From: Mr Metals	Read Replies (1) \| Respond to of 3282

A little shake out IMO. Another powerful NR like the last one and she's headed to $5.00. JUST MY OPINION OF COURSE. Mr Metals

To: Rocket Red who wrote (311)	10/17/1998 11:27:00 AM
From: Mr Metals	Read Replies (4) \| Respond to of 3282

Oct 16 Canaccord Morning Coffee However, given the potential for 4M ozs. in the Amable zone and 2.4M ozs. already estimated elsewhere on the project, this resource could justify a per share speculative valuation of over $4.00, based on an in-situ value of US$25.00/oz. and assuming the market is willing to give ARP the 4M oz. upside noted above. OVER $4.00 A SHARE Jim and she's trading at $1.59:-) HEADLINERS ARGENTINA GOLD (ARP : VSE : $1.86 : Issued 33.1M; $300,000 cash)Argentina Gold has reported spectacular assays on the second drill hole of this season's exploration program on the Veladero gold-silver project in Argentina. ARP is operator of the project with a 60% interest and Barrick holds the remaining 40%. An intersection of 168 m of 2.7 g/t gold in 1997 prompted a 20,000 m drill program in 1997-1998 on the Filo Frederico target, within the Veladero project. An independent resource estimate on this target outlined 82.8 M tonnes grading 0.75 g/t gold (2.4M ozs. Au) and 26.1 g/t silver (75M Ag). At the Filo Federico target, a 2,000 m diamond drill program will be carried out to further delineate higher grade zones. This year's initial drilling has focused on the Amable target in the area of Hole 76, the final hole of last season's drilling, which intersected 193 m grading 2.59 g/t gold and 55.09 g/t silver. Hole 79, the first hole of this season, intersected 121 m grading 1.4 g/t Au and 56.6 g/t Ag. The 1 m assays on this hole were very erratic and largely sub-economic. However, results reported today on Hole 80 are a pleasant surprise, and Hole 80 should be classified as a "discovery hole". The intersection of 212 m grading 3.67 g/t Au and 47.7 g/t Ag is all the more impressive on review of the 1 m split assays. From 61 m to 187 m in depth, all 1 m sections are greater than 1 g/t, and 24 m are greater than 10 g/t Au (up to 33.7 g/t Au). Hole 80 is the most significant hole drilled on this project to date. The volcanic host in the Amable target is highly fractured and silicified. Mineralization is contained within a sub-horizontal tabular zone where meteoric water has mixed with magmatic fluids to form the right pressure/temperature conditions for gold and silver to drop out of solution. The Amable target has an 800 m by 300 m resistivity geophysical anomaly yielding the potential for tonnage similar to the Filo Frederico target, but with a potential grade 3-4 times higher. The gradational alteration to argillic and then quartz alunite at depth reflects the potential for a deep, high-grade feeder zone. It is much too early to say for certain whether Hole 80 is indicative of the gold-silver grade within the Amable zone. Hole 80 could be a tough act to follow and assays for Holes 81 and 82, which are expected very shortly, could easily disappoint the market. However, given the potential for 4M ozs. in the Amable zone and 2.4M ozs. already estimated elsewhere on the project, this resource could justify a per share speculative valuation of over $4.00, based on an in-situ value of US$25.00/oz. and assuming the market is willing to give ARP the 4M oz. upside noted above. We expect Argentina Gold's share price to be volatile but are moving this company near the top of our watch list based on a discovery hole at the start of an active drill season in Argentina. The Company still has to secure a financing to continue exploration, but this should not be a problem for the Lundin Group, especially in a discovery-hungry market. As such, we rate the shares of Argentina Gold as an ACCUMULATE on any weakness or confirmation of the higher grade in the Amable zone by further drilling. (A. Muir, Canaccord Research) Mr Metals