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

To: Ed Pakstas who wrote (697)	10/28/1998 8:58:00 PM
From: waldo	Read Replies (1) \| Respond to of 3282

Ed, speakin of "neck n neck" ...from Insider Report: >>Argentina Gold [ARP.V]Continues Trading Strongly We are happy to see that ARP is still trading strongly on speculation of further assays from their Veladero project in Argentina. It traded 1.8 million shares today and rose 10 cents to $2.40. The sustained action is being driven by rumors of another impressive intersection in hole 84, assays for which are expected within a few days. As we noted previously, investor willingness to speculate on high-risk/high-reward plays has been drained over the past couple of years, and it must return before we will ever see a true recovery in the VSE. While ARP is certainly evidence of renewed confidence, there are others as well. For example, Winspear Resources [WSP.V] has been keeping ARP company on the leader board. WSP traded over three million shares today and closed at $2.38, up 50% in a week. WSP is being lifted by anticipation of more drill-hole and bulk-sample assays from its Snap Lake diamond property. Two super-hot mining plays at the same time...hmmm!<< 82 is closing in on 9% of the outstanding shares in 5 trading days. W

To: Ed Pakstas who wrote (697)	10/28/1998 9:21:00 PM
From: G	Read Replies (1) \| Respond to of 3282

Wednesday, Oct 21 1998 For your investing pleasures!!!! HEADLINERS YAMANA RESOURCES (YRI : TSE : $0.98 : Issued 27.3M : $6M cash) Yamana is well into an extensive drill program on its precious metal projects in Argentina and copper porphyry targets in Chile. Yamana has a 100% interest in 21 properties for 1,347 square km in Santa Cruz Province, Argentina. This region has no history of gold production, and until 15 years ago, no history of exploration. Yamana's holdings are spread over a 250 km by 150 km area and cover epithermal gold-silver discoveries geologically similar to large, low-grade gold deposits in Nevada. An aggressive program of diamond drilling will follow up on last year's high-grade silver with gold and base-metals discovery at Lejano and on the high-grade silver and gold discovery at Bacon. At Lajano, the structurally controlled, epithermal mineral deposit on South Ridge exhibits potential to host more than 100M ozs. of silver with ore-grade base-metals values. Semi-massive sulfides of iron, lead, zinc, and copper fill quartz fault-veins and cement associated fault breccia. Metallurgical tests will be conducted on this material this year. So far Yamana has outlined a mineralized core zone of 4 m true thickness averaging 550 g/t Ag, 1.56 g/t Au, and 6.1% Pb. A 1 km zone of lower grade disseminated mineralization encases this core of semi-massive sulfides, forming a deposit averaging 20-22 m thick. Based on the 31 holes which penetrated this deposit, its average grade is 200 g/t Ag, 0.5 g/t Au, and 2.5% Pb. Yamana believes that there is good potential here for it to develop a deposit in the order of 10-30M tonnes of ore containing 100-200M ozs. of silver. Drilling has commenced at the Bacon property, which is 150 km southeast of Lejano. Yamana plans a 1,500 m DDH program with two initial objectives: pattern drilling on 25 m centers to begin quantification of the high-grade silver mineralization occurring within shoots beneath the discovery outcrop; and in-fill drilling to ascertain the zone's continuity over its known 1 km strike length. Additionally, Yamana plans to engage its own rig in a 2,300 m RC program to scout out indicated extensions of the mineralized quartz fault-vein over its 9 km host structure. Previous drilling resulted in a precious metals discovery on North Bacon. One of the more spectacular intercepts for the Santa Cruz province (24 m approximate true thickness of 664 g/t Ag and 0.68 g/t Au, including 6 m of 2,579 g/t Ag and 2.62 g/t Au) comes from hole 16. Eighteen reverse-circulation (RC) drill holes, 13 of which were completed, tested approximately a 1 km strike length of an epithermal quartz fault-vein. Ten holes hit ore-grade silver and gold mineralization. At this time drilling is insufficient to quantify this discovery. Segments of the mineralized structure within the discovery zone, yielding surface samples as high as 7,000 g/t Ag with 5 g/t Au across 2 m, remain to be drill tested. The large fissure zone containing the discovery runs for 9 km across Bacon and contains other mineralized showings that have yet to be explored. The quartz fault veins of North Bacon occur within a favourable geologic sequence of brittle rhyolitic volcanic rocks, excellent for the development of big vein systems. The formation is estimated to be over 600 m thick in the North Bacon area. Geology and mineralization are analogous to that of the Tonopah, Nevada, mining district, which produced 174M ozs. of silver and 1.86M ozs. of gold around the turn of this century. In Chile, Yamana is systematically drilling a series of 14 porphyry copper prospects within the Northern Porphyry Copper Belt (NPCB)-the world's most productive copper zone. Drilling has been completed on the Capricornio property, 65 km northeast of Antofagasta. Yamana is currently drilling on several of its Bufalo area properties, 70 km north of the Escondida copper mine. Argentina is currently the exploration hotspot for new mineral deposits. A list of junior companies currently working includes: Price Shares o/s Mkt Cap. Oct 21/98 (M) (M) Argentina Gold (ARP-V) $1.90 35.5 67.45 Blackhawk Mines (BHK-T) $0.25 113.2 28.30 Corriente Resources (CTQ-V) $0.64 21.0 13.44 Mansfield Resources (MDR-V) $0.63 16.4 10.33 Minera Andes (MAI-A) $0.60 20.7 12.42 TNR Resources (TRR-V) $0.25 3.4 0.85 Viceroy Resources (VOY-T) $2.60 33.1 86.06 Yamana Resources (YRI-T) $0.95 27.3 25.94 Average 30.60 We believe that Yamana's current market cap. does not reflect the drilling success on its Lejano and Bacon projects in Argentina. Given the almost three-fold market cap. of Argentina Gold, we believe that Yamana's share price could increase dramatically once the first round of drilling news comes out on this season's drilling. We have a six-month share price target of $2.50 for Yamana. Given the risk-reward nature of the mineral exploration business, the shares are rated as a SPECULATIVE BUY. Andrew Muir, Canaccord Research MARKET MOVERS (Previous day's closing statistics) Argentina Gold ARP 2,449,050 1.91 -.20 Newmont agrees to a 2.5M sh PP at $1.96. Hole #80 intersected 212 m grading 3.67 g/t Au and 47.7 g/t Ag on Veladero project, Argentina in JV with Barrick. Drilling continues. Assays on two additional holes expected this week. Winspear Resources WSP 2,167,800 1.76 +.42 Breaks out of trading rut after steady accumulation. Expecting further bulk sample results and flow of assays from summer and fall drilling on Snap Lake dike 67.8% int), NWT. Recent holes increase strike and