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Gold/Mining/Energy : OPW - Opawica Explorations Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Wilse who wrote (19)	3/23/1999 10:37:00 AM
From: Rocky510	Read Replies (1) \| Respond to of 72

Opawica makes new discovery in Argentina Opawica Explorations Inc OPW Shares issued 10,848,933 Mar 22 close $1.50 Tue 23 Mar 99 News Release Mr. Dan Clark reports Opawica has made a potential new discovery on its Cura Este property in the Valle del Cura district, Argentina, based on the latest results from a field program. Attention has been focused on this general area as a result of developments on the Veladero project of Argentina Gold/Barrick (greater than five million contained ounces of Au) and the Pascua-Lama project of Barrick (greater than 20 million contained ounces of Au). The new discovery is between 4,000 and 4,800 metres elevation and constitutes a suite of porphyries, tourmaline-barite breccias, silicified breccias, quartz stockworks, polymetallic veins and surrounding alteration zones occurring in an area in excess of 20 kilometres in diameter. There are no previous reports of mineralization from this area. To date, results for 200 out of approximately 500 samples are available. The exposed porphyries at surface returned values in the 0.2 of a gram per tonne Au to 0.7 g/t Au and 30 parts per million Mo to 50 ppm Mo range based on an initial 16 grab samples. Grab samples from silicified breccias, tourmaline-barite breccias, quartz stockworks and pyrite-rich polymetallic veins returned values between 0.5 g/t Au to 5.5 g/t Au and silver content in some narrow polymetallic veins ranged up to 1,320 g/t based on selective grab sampling. The system is still open to the north, south and west. Several stream sediment values in the 0.1 g/t Au to 0.2 g/t Au range indicate that the mineralization may extend further than the actual areas where rock samples were collected. The samples were analyzed by American Assay Laboratories in Mendoza, Argentina, by standard atomic absorption techniques, with checks by Australian Laboratories System in the same city. A second check on selected samples is being carried out by Lakefield Research in Canada. This discovery, although still in its infancy, underscores management's belief in the geological prospectivity of this area. Final results for the current field season are expected by mid-May. The current field program is oriented toward defining drill targets for the next field season that starts in the fourth quarter of this year. Furthermore, drilling continues on the joint venture properties with Falconbridge Limited in Kidd and Carnegie Townships in Ontario and results will be released as they become available. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com