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

To: Enigma who wrote (1218)	11/12/1998 8:14:00 PM
From: waldo	Respond to of 3282

Notes from the ARP conference call earlier this week Please excuse my mistakes as I am going by memory: - 3000 meters drilled so far. - Just completed hole 89.. 80 meters to the west hole 84...finished 88 from the same platform to the south west. - The 2 holes are testing the extension of the Amable target (western part) into the quartz alinite(sp?) zones, like 84 and 85 to prove the link into the western part of Cerro Pelado. - They are confident that both the mineralization control given by the grading of the alterations are a good link into the Cerro anomaly, and if true, the whole eastern part of the 2 diatreme systems could be well mineralized in the same grade. - They believe that the mineralization is being controlled by the same sort of features all along the entire system, at about the same elevation with 1 to 2 grams, with higher grade zones as well. - The next 2 holes will(90 and 91) extend Amable target to the east (88 and 89 tested the west) because hole 85 is still open to the east...it has less overburden with 20 to 30 meters of cover. - Next will be Filo east, which is open..hole 63 has good grades to the bottom, and they are going to try to intersect that level from a lower elevation. -2 or 3 holes on the area between the Amable target and the south of the Filo diatrime. - Add a diamond drill(January) to certify the best grades at the Amable and Filo..locations will be between 84 and 85 (2 holes) in the Amable, and 2 in the western Filo. - The entire Filo/ Cerro diatrimes are part of one entire volcanic system, that has been feeding different types of fluids to the central silicification zone and the quartz alinite in the exterior zone. -NEM's metallurgist confirmed that Amable is mostly formed by oxides and shouldn't have problems.The model calls for sulphides below the silicification, and so far haven't reached very many sulphides..very restrictive holes on the sides of the system. The gold seems to leach well and the silver less. Silver may need different circuit..to early to say for sure. - Study said 3 .9 million ozs. on Filo and is completely open to the north east /south west and continues to the south east through hole 63. - They have a major mineralized district and the structural continuity... same geology and similar mineralization.The infrastructure is better on the Argentinean side with wide open areas at lower elevations... they are studying access and electricity at cabinet level. NEM were attracted to this project as they see similar geology to Yanacocha, with 2 to 3 kilometers of strike. Waldo