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

To: Mr Metals who wrote (771)	10/29/1998 2:27:00 PM
From: E. Charters	Respond to of 3282

well I left messages. I am at a new number. email me if you wish. mailto:echarter@vianet.on.ca This is what I wrote about it on Monday last. (19th) Monday morning quarterback division, I could have told you so department: This one slipped by me. Huge volume and run up form 1.16 to over two dollars and it settled back to 1.75. The excitement was over 212 metres of 3.87 grams. That is .113 ounces per short ton over 695 feet in a drill hole. And that is the third big hole they have drilled on this new target near the Filo Frederico. The FF zone is 2.4 million ounces, 40% owned by Barrick that is of lower grade but may be feasible. This new stuff is good grade and wide as the sky. How good is the Amable and why was it not seen before? Who knows? The drilling season is short here and the FF zone never did garner that much excitement for reasons that I am not sure of but may have had something to do with depth, metallurgy, grade and Barrick overhang.. If hole 81 bangs in big this may double again. Argentina is not nice to develop in unless you have deep pockets as it is as crooked as Venezuela so I would not hold my breath that the junior develops the big mine here. It says that the Veladero property is a shared expenditure with Barrick. Where ARP will get the money to carry it down the line I dunno. With 50,000,000 shares out and US 30 dollars an ounce, ARP would be worth $2.70 CDN with 60% of a 5 million ounce deposit. That is the reality. But the run up could provide some excitement. I am going to guess this one will not go too much deeper than 700 feet as the paleowater control tells me it is mesothermal hot spring or surface top-down precipitation..it could still be a very good deposit if any ones cares about very good gold deposits these days. I would like t hear more about the metallurgy. High silica sounds like full milling. EC<:-}