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

To: F. Evans who wrote (980)	11/3/1998 2:10:00 PM
From: the Chief	Read Replies (2) \| Respond to of 3282

Could be...but note "bold" from ARP release......Plse note date.. Monday Oct 26 1998 Mr. J. Patricio Jones reports The company has received the latest results from its drilling program on the Amable target at the Veladero project in San Juan, Argentina. Hole 82 returned 91 metres of 1.488 g/t gold and 35.75 g/t silver including a 33 metre section of 2.14 g/t gold and 23.8 g/t silver. Hole 82 was drilled 150 metres to the west of and in section with hole 76 defining an east-west mineralized section with an extent of more than 200 metres. Hole 82 showed continuous mineralization to the end of the hole. Total Inter- Hole Depth val From-To Au Ag m m m m g/t g/t 82 318 91 99-190 1.488 35.75 incl. 33 99-132 2.14 23.80 128 190-318 0.50 9.15 Hole 82 encountered mineralization at the same topographic elevation (approximately 4,300 m.a.s.l.) as in holes 76, 79 and 80, providing further evidence of subhorizontal paleophreatic control of the gold/silver mineralized zone at the Amable target and suggesting a favourable uniformity for the area covered by the drilling so far (approximately 300 metres by 200 metres). The known thickness of this mineralized oxide zone ranges from 120 metres to 212 metres. Hole 81 returned gold anomalies in fractured silicified zones up to 1.15 g/t gold and 66 g/t silver but intervals were thin and discontinuous. Hole 81 was drilled 200 metres to the north of hole 76 testing the northeastern section of he target area. The mineralization was encountered in restricted structures in the lower part of the hole. These structures correspond with quartz-alunite-sulphide veinlets that are interpreted to represent conduits for mineralization but do not represent favourable areas for dissemination. Geological data from the area suggest that the hole was drilled at the hanging wall of one of the major northwest faults that could have resulted in vertical and/or horizontal displacement of the silicified uppermost horizon where mineralization controlled by paleowater tables has been encountered elsewhere in the target. Holes 83 (200 metres north and 160 metres west of hole 76) and 84 (200 metres south of hole 76) are complete with assays pending. Hole 86 (132 metres southwest of hole 76 and 80 metres west of hole 80) is under way. Approximately 6,000 metres of drilling is scheduled at the Amable target. The Amable target is 2.5 kilometres to the southeast of the Filo Federico and NW targets from which the company recently received an independent resource estimate of 2.4 million ounces of gold and 76 million ounces of silver. Argentina Gold is the operator of the Veladero project, holding a 60 per cent interest. The company's partner, Barrick Gold, holds the remaining 40 per cent. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: F. Evans who wrote (980)	11/3/1998 2:22:00 PM
From: the Chief	Read Replies (1) \| Respond to of 3282

Cont'd............ARP has dimensionalized the property in width with "anomalous values in holes 82 and 76 in a east west direction. Even though 76 and 82 were poor holes they still extended the size of the deposit 50 meters beyond! The deposit lies in a NNE direction with 84 and 83 being at opposite ends. Assuming we accept 300 metres as the length, 200 metres as the width, and 300 metres as the depth. The result is 18,000,000 cu metres which equates to about 23,000,000 tonnes of ore at "we'll say 5 g/t gold equivalent = 4,107,000 ounces of Gold equivalent. This equals 4.1 million ounces of "gold equivalent" not 4 million ounces of gold they own 60% of this deposit. Present stock price is out of line IMHO, but then again I thought it was out of line at $2.70 the Chief