Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (3102)	1/18/1999 9:42:00 AM
From: ForYourEyesOnly	Read Replies (1) \| Respond to of 81900

*SSO intersects bonanza grades at Argentina project* Silver Standard Resources Inc SSO Shares issued 16,045,797 Jan 15 close $1.70 Mon 18 Jan 99 News Release Mr. Robert Quartermain reports Silver Standard Resources Inc. has received bonanza and high-grade assays from recent drilling at the Manantial Espejo silver-gold project in Santa Cruz province in southern Argentina. Eighteen diamond drill holes totalling 1,024 metres were completed on the Maria vein and two other targets in the western half of the 225 square kilometre project area. All 14 of the Maria vein holes intersected the high-grade silver-gold target over true widths ranging from 2.9 metres to 13.2 metres (6.2 feet to 43.4 feet). The best results included T-116 which intersected 1,403.8 grams of silver-equivalent per tonne over a true width of 10.6 metres (or 40.9 ounces of silver-equivalent per ton over 34.7 feet); T-114 which intersected 853.6 grams of silver-equivalent per tonne over a true width of 8.2 metres (or 24.9 ounces of silver-equivalent per ton over 26.9 feet); and T-110 which intersected 519.9 grams of silver-equivalent per tonne over a true width of 13.2 metres (or 15.2 ounces of silver-equivalent per ton over 43.4 feet). Both T-116 and T-114 intersected bonanza mineralization with silver-equivalent grades of up to 2.7 kilograms per tonne over true widths of 5.2 metres or 80.1 ounces per ton over 16.9 feet. The recent drilling confirms the continuity of mineralization within the Maria vein and further detailed and in-fill drilling will lead to start-up of a full feasibility study. Silver Standard believes the Maria vein can form the basis for a high-grade underground mine complemented by limited production from surface mining of the vein system. The Maria vein is open along strike and at depth. The diamond drilling program at Manantial Espejo followed a three-month program of regional mapping and prospecting by two teams who covered approximately 60 per cent of the 225 square kilometre project area. During this program, company geologists discovered numerous new zones of potentially economic significance that require follow-up. Four short holes were drilled on two prospects, with anomalous assay results. The potential for discovery of additional high-grade zones similar to the Maria vein is considered excellent. Manantial Espejo, accessible by road in a region of recently discovered epithermal silver-gold mineralization, is located approximately 100 kilometres west-southwest of the new Cerro Vanguardia mine with production of 200,000 ounces of gold and 1.6 million ounces of silver annually. Based on block and polygonal resource calculations prior to the completion of Silver Standard's drilling, the Manantial Espejo project is estimated to host reserves and resources in all categories totalling 7.9 million tonnes grading 191 grams of silver and 2.87 grams of gold per tonne. Using a 1:55 gold:silver ratio, the Manantial Espejo project contains a preliminary resource of 88.6 million ounces of silver-equivalent. Silver Standard's equity share of the resource will exceed 35 million ounces of silver-equivalent on completion of its earn-in. Silver Standard has an option to acquire 50 per cent of Black Hawk Mining Inc.'s share in the Manantial Espejo project. It is currently held by a wholly owned subsidiary of Black Hawk Mining Inc. (80 per cent) and Barrick Gold Corporation (20 per cent). On completion of a feasibility study, Barrick must elect to either sell its 20 per cent interest to Black Hawk's subsidiary or increase its interest to 40 per cent, based on predetermined prices. WARNING: The company relies on litigation protection for "forward-looking" statements. MANANTIAL ESPEJO SILVER-GOLD PROJECT, ARGENTINA Drill From To True Gold Silver Hole (m) (m) Width (g/t) (g/t) T-105 88.1 92.5 4.3 1.54 178.6 T-106 29.1 33.7 4.5 3.39 224.0 T-107 32.3 35.3 2.9 1.16 150.1 T-108 58.3 61.8 3.5 0.28 89.4 T-109 96.3 101.2 4.8 8.58 285.5 T-110 25.7 39.4 13.2 0.81 475.4 incl. 35.4 39.4 3.9 1.96 852.3 T-111 75.5 81.1 5.2 9.32 378.8 T-112 14.3 24.1 9.8 0.82 240.0 T-113 28.3 32.0 3.6 3.10 58.6 T-114 16.1 24.6 8.2 11.74 207.9 incl. 20.8 24.6 3.7 25.35 306.2 T-115 58.3 70.9 11.4 5.08 204.5 T-116 11.0 22.1 10.6 19.84 312.6 incl. 15.5 20.9 5.2 40.08 540.2 T-117 39.0 44.0 4.8 10.99 265.3 T-118 42.1 46.4 4.2 2.54 87.3 T-119 33.1 34.6 1.5 0.85 4.6 T-120 22.0 24.0 2.0 0.19 19.5 T-121 26.7 28.8 2.0 0.30 1.1 T-122 17.4 18.8 1.4 0.01 50.4 MANANTIAL ESPEJO SILVER-GOLD PROJECT, ARGENTINA Drill Silver True Silver Hole Equiv Width Equiv (55:1) (feet) (55:1) (g/t) (oz/ton) T-105 263.3 14.2 7.7 T-106 410.4 14.9 12.0 T-107 213.9 9.5 6.2 T-108 104.8 11.4 3.1 T-109 757.4 15.7 22.1 T-110 519.9 43.4 15.2 incl. 960.1 12.7 28.0 T-111 891.4 17.1 26.0 T-112 285.1 32.2 8.3 T-113 229.1 11.9 6.7 T-114 853.6 26.9 24.9 incl. 1,700.5 12.0 49.6 T-115 483.9 37.5 14.1 T-116 1,403.8 34.7 40.9 incl. 2,744.8 16.9 80.1 T-117 869.4 15.9 25.4 T-118 227.0 13.6 6.6 T-119 51.4 4.9 1.5 T-120 30.0 6.6 0.9 T-121 17.6 6.6 0.5 T-122 51.0 4.6 1.5

To: Bill Murphy who wrote (3102)	1/18/1999 11:51:00 AM
From: chevalier	Read Replies (1) \| Respond to of 81900

Bill Excellon ($EXL on the VSE trading at $0.24 Canadian) is a cheap Mexico grassroots silver play that is drilling at the moment. Apex Silver is footing the bill for the program and judging the market action on Friday and today, I suspect that they are seeing interesting looking core. The drilling began last Monday and 1 hole is complete. Apex is permitted to drill up to 36 holes with each hole being 150-200 meters in depth; obviously they are expecting big things here. I believe that there are 12 million fully diluted and the cash position is very small. From what I could gather insiders own about 20-25% of the stock. Anyways, here is the release: have been buying this one today. Drilling in Mexico at the moment. News release I have attached will sum up most of what you need to know here. I have been told from a good source that hole 1 which is complete hit a 100 meter interval that appears to be mineralized. with these types of deposits it is fairly easy to see silver in core. Very good group behind this company and it is still unknown really. Not sure about the fully diluted or cash at the moment but the outstanding of 12.1 million shares on stockwatch is correct. I would guess F/d may be about 16 million or so. Excellon Resources Inc - Excellon has been advised that Platosa drilling is under way Excellon Resources Inc EXN Shares issued 6,699,805 1999-01-12 close $0.17 Wednesday Jan 13 1999 Mr. Richard Brissenden reports Excellon has been advised by Apex Silver Mines Ltd. that it has commenced a drilling program on the Platosa property. The Platosa property is five kilometres northwest of Bermijillo, Durango State, Mexico and lies 1.5 kilometres from a major paved highway, railroad and electric supply. In December 1997 Excellon's geological consultants completed a program which included geological mapping, geochemistry, geological interpretation, mapping and sampling (47 samples). The following paragraph is taken from Apex's report. Mineralization observed at Platosa is typical of that seen throughout the 2,200 kilometre long belt of replacement skarn deposits that crosses northern Mexico. Platosa lies centrally within this belt and offers attractive possibilities for containing additional economic base and precious metals-rich skarn replacement ores. The area lies only 25 kilometres from the Ojuela mine at Mapimi which produced five to six million tonnes of ore grading in excess of 3.5 grams per tonne Au, 475 grams per tonne Ag, 15 per cent Pb, 10 per cent Zn and 0.2 per cent Cu. There has been previous mining at Platosa where more than 75,000 tonnes of high-grade ores were recovered from the old workings. Five selected samples were taken from the existing underground workings. Assays from the samples ranged from 0.3 grams per tonne Au to 9.6 grams per tonne Au; 960 grams per tonne Ag to 1,600 grams per tonne Ag; 12 per cent to 19 per cent Pb; 5.1 per cent to 39 per cent Zn; and 1 per cent to 3 per cent Cu. Furthermore, 1970 vintage smelter liquidation sheets for the Platosa mine ores show 0.35 of a gram to 1.75 grams per tonne Au; 3,000 to 3,750 grams per tonne Ag; 30 per cent to 40 per cent Pb; and 2.0 per cent to 12 per cent Zn. The fact that these grades and the style of mineralization are similar to those at Mapimi strongly indicates the Mapimi-like ore bodies and/or metals contents might be expected at Platosa. The property has been owned by a Mexican family and until Excellon's recent involvement has never had modern geological techniques applied to it nor has it ever been drilled. On Aug. 18, 1998 Excellon signed an exploration and development agreement with Apex with respect to the Platosa property. Apex is a worldwide mining and exploration and development company with a primary focus on silver. It's shares are traded on the American Stock Exchange. Under the terms of the agreement Apex can earn a 65 per cent direct interest in the property with Excellon retaining a 35 per cent interest. At that point a joint venture would be formed. Should Apex decide to bring the property into production it would provide Excellon with a bankable feasibility study. The agreement provides for property payments by Apex to Excellon to $1.35-million (U.S.) over 4.5 years and minimum exploration expenditures of $1.5-million (U.S.) by Apex over five years with a minimum $100,000 (U.S.) in the first year. On signing Apex made an initial property payment to Excellon of $75,000 (U.S.). Excellon is responsible for making all property payments (totalling $973,000 (U.S.) over 4.5 years) to the underlying property owners during the option period. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing) --