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

To: Rockhound who wrote (2923)	2/22/1999 12:42:00 PM
From: russet	Read Replies (1) \| Respond to of 3282

Update from ARP: Drilling results from #114, 117, 115, 120 will determine if high grade mineralization extends from Filo Federico to the NW target. Such mineralization could greatly increase resource estimates in the Northwestern zone. Results from these holes are expected shortly. The company is currently planning where to collar the fence of holes to link Filo Frederico to Amable North and then to Amable itself. They do not want to waste time and money drilling blank holes so they will take some time to make sure they drill in the best places to get success. This fence of new holes will cover over 2 km of potentially new resource. Resistivity charts and surface chemical analyses show these areas are likely connected by gold/silver bearing mineralization. Past holes have been drilled according to these resistivity lines with great success. This drilling is planned to be completed before the end of the May freezeup. Check the website in the last week? It has changed. Sophia has been busy updating the sections concerning Veladero. She has a good section on access to the site (note there is no problem working the minesite year round from the Argentine side, roads are plowed) and now has the resource calculations by the engineering consultants. The consultants are presently putting the finishing touches on a preliminary cost analysis of a stand alone mining operation. This will be posted on the website as soon as it is completed.. The resistivity charts have not been updated for the Cerro Pelada diatreme zone. This will hopefully be done this week. The new charts distributed at the Roundup in Vancouver indicated Cerro Pelada has a good chance of hosting a large gold/silver mineralization zone. Note this large area west of Amable has not been drilled yet. A criticism has been leveled at the company that the holes are being drilled too close together. This is necessary to turn a resource into a proven reserve. How else would you expect them to do that? There is a mine here, the question is, how big? One should also note that although some holes start close together, they are drilled at different angles, so that the end point of the holes may be a few hundred meters apart. Do you think that's far enough apart? Do you know of any other mines that were proven up faster, given the money, resources and conditions this company is working under? If you say yes, I think you are full of something and need to take a trip to the toilet. A flow of results and updates should continue from now until July based on the drilling done from now until end of May. Data presented to date indicates the resource will increase. Stock is pretty cheap now, thanks to price of gold dropping and momentum players fleeing. russett is buying (the comical one Frank, time will tell who's right about the price of ARP, I say over $8.00)