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Gold/Mining/Energy : El Misti Gold Limited (EMG V) -- Ignore unavailable to you. Want to Upgrade?

To: robert b who wrote (358)	2/11/1999 10:00:00 PM
From: robert b	Read Replies (1) \| Respond to of 513

more results ... ********* Please note that the text is readable but for some reason when i cut and paste, the stats are "scrambled". the whole press release can be found on the company's web site www.elmisti.com NEWS RELEASE February 12, 1999 VSE-EMG Sedar Profile #00003879 Sinchao Project Drill Results -- Summary The Board of Directors of El Misti Gold Limited is pleased to summarize current diamond drill results for its wholly owned Sinchao Project in northern Peru located some 450 km north of Lima and 30 km from the Yanacocha Mine, South America's largest gold producer. These results confirm the presence of a large copper-gold-zinc-silver system with potentially economic grades amenable to open pit mining. The deposit remains open laterally in all directions and there is potential for several hundred million tonnes of mineralization. The analytical results were provided by Intertek Testing Services (Bondar Clegg). The quality assurance for all aspects of the diamond drill program has been provided by Howe Chile Ltda., a subsidiary of ACA Howe Ltd. Drill holes SDH-10, SDH-5, SDH-6 and SDH-7 have delineated mineralization over a length of 640 metres and a width of 300 metres with an average thickness of 478 metres. Preliminary test work indicates a specific gravity of 2.6. These measurements indicate a potential for a mineralized zone of approximately 239 million tonnes at a grade of 1.45g/t gold equivalent (Cu equiv. 0.84%). This includes 163 million tonnes at a grade of 1.70 g/t gold equivalent (Cu equiv. 0.99%) which includes 111 million tonnes at a grade of 2.18 g/t gold equivalent (Cu equiv. 1.27 %). The mineralization is polymetallic whose value is derived approximately 38% from copper, 24% from gold, 23% from zinc and 15% silver. The accompanying map (not available in e-mail format, please check the Company's web site) shows the area of mineralization defined by the current diamond drill results. Additional results for drill hole SDH-10 and previously released results are set out in Table 1 and are summarized below. Gold and copper equivalent grades have been calculated for each of the significant mineralized intercepts on the basis of in-ground values using the following metal prices: US $287/oz gold, US $5.55/oz silver, US $0.72/lb copper, and US $0.52/lb zinc. Hole SDH 10: 490 (1,181 feet) metres of mineralized intercept at a gold equivalent grade of 1.61 g/t (Cu equiv. 0.94 %). Hole SDH-5: 495 (1,636 feet) metres of mineralized intercept at a gold equivalent grade of 1.59 g/t (Cu equiv. 0.92 %). Hole SDH-6: 602 (1,850 feet) metres of mineralized intercept at a gold equivalent grade of 1.22 g/t (Cu equiv. 0.71 %). Hole SDH-7: 592 (1,810 feet) metres of mineralized intercept at a gold equivalent grade of 1.36 g/t (Cu equiv. 0.79 %). At Sinchao, to date, the Company has undertaken geological mapping, geochemical sampling and ground geophysics followed by drilling. During 1997, twelve RC holes (1,768 metres) were drilled and during 1998, seven RC holes (1,174.5 metres) and ten diamond drill holes (5,176.25 metres) were drilled. The Board is highly encouraged with the mineralization and potential of the Sinchao project and has retained well known and highly respected independent geologist Lindsay R. Bottomer, P. Geo to review all Sinchao project data and help the Board formulate the appropriate next steps for 1999. Table 1 - Diamond Drill Results SDH-10 From (m) To (m) Interval (m) True Depth (m) Au g/t Ag g/t Cu % Zn % Gold equivalent g/t Copper equivalent % 0 490 490 424 0.46 13.49 0.35 0.24 1.61 0.94 including 134 212 78 68 0.78 29.86 1.01 0.55 3.78 2.20 With highlights such as: 90 100 10 9 1.81 19.76 0.10 1.73 4.51 2.62 and 134 148 14 12 1.32 44.81 1.02 1.46 5.75 3.35 and 198 212 14 12 0.70 31.31 1.82 0.05 4.50 2.62 SDH-5 From (m) To (m) Interval (m) True Depth (m) Au g/t Ag g/t Cu % Zn % Gold equivalent g/t Copper equivalent % 4 499 495 429 0.29 11.45 0.38 0.34 1.59 0.92 including 102 452 350 303 0.37 14.67 0.52 0.44 2.09 1.22 including 104 130 26 23 0.89 23.92 0.46 1.18 3.61 2.10 and 230 294 64 55 0.51 21.47 0.76 0.89 3.34 1.94 and 316 452 136 118 0.40 16.80 0.70 0.26 2.25 1.31 SDH-06 From (m) To (m) Interval (m) True Depth (m) Au g/t Ag g/t Cu % Zn % Gold equivalent g/t Copper equivalent % 6 608 602 546 0.23 7.49 0.26 0.33 1.22 0.71 including 36 88 52 47 0.17 38.05 0.28 0.48 1.98 1.15 and 158 492 334 303 0.30 5.58 0.27 0.47 1.46 0.85 including 356 492 136 123 0.53 5.27 0.32 0.59 1.91 1.11 SDH-07 From (m) To (m) Interval (m) True Depth (m) Au g/t Ag g/t Cu % Zn % Gold equivalent g/t Copper equivalent % 5 597 592 513 0.40 11.45 0.29 0.19 1.36 0.79 including 11 389 378 327 0.54 13.86 0.30 0.28 1.67 0.97 including 191 389 198 171 0.84 23.69 0.56 0.32 2.66 1.55 Map showing the outline of the mineralization at Sinchao as defined by current diamond drill results For further information, please contact Marie Antoinette Shields -- Market Finance Development. Phone: (604) 681-6186 Direct Fax: (604) 681-3652 Web site: www.elmisti.com On behalf of the Board, "John Huguet" John Huguet, Chairman & CEO "Arthur Fisher" Arthur Fisher, Director For geological content: "V. Jaramillo" V. Jaramillo, Chief Geologist The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. 1005 - 750 W. Pender Street, Vancouver, BC, Canada V6C 2T8 Tel: (604) 681 6186 Fax: (604) 681 3652 Toll Free: 1-888-356-4784 Email: info@elmisti.com Website: www.elmisti.com Return to El Misti's Home Page Click here for other News Releases issued by El Misti Gold