Absolut's Final Phase II Drill Results and Outline of 2005 Program for Pico Machay.TORONTO -- Absolut Resources Corp. (ABS (Automatic Backup System) See backup program. ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ABS)is pleased to announce the final five holes of its Phase II drill program at Pico Machay. This drill program consisted of 19 widely-spaced holes over a strike length of 1,500m. The objective was to test the size and grade potential of the first target, located near the centre of a large 5km by 2km high-sulphidation alteration system. Highlights of the final five holes include ABS-125 which intersected 43.5m @ 0.73 g/t Au. ABS-125 is located 500m east of ABS-108 which intersected 106.5m @ 1.87 g/t Au (as previously reported). Summary drill results for the latest holes:
From To Interval Au
Hole # (meters) (meters) (meters) (g/t)
ABS-120 70.5 78.0 7.5 0.54
ABS-121 111.0 115.5 4.5 1.90
ABS-123 0.0 15.0 15.0 0.46
22.5 39.0 16.5 0.66
64.5 84.0 19.5 0.38
ABS-124 1.5 13.5 12.0 0.68
ABS-125 0.0 3.0 3.0 0.84
7.5 51.0 43.5 0.73
54.0 61.5 7.5 0.54
As a reference the Newmont / Buenaventura Yanacocha high-sulphidation gold mine has an average grade of 0.96 g/t Au and Barrick's Alto Chicama deposit grades 1.39 g/t Au. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dan Noone stated "We are extremely pleased with the results of what was a very ambitious program in 2004. Drilling has discovered a large central zone of gold mineralisation, that clearly justifies an aggressive, expanded Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA drill program." A 6,000m campaign has been budgeted and is scheduled for early 2005. Drilling will focus on infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. between the current widely-spaced holes in order to delineate an initial resource estimate. In parallel, other priority targets developed by ongoing detailed mapping, rock-chip sampling and geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. will be drill tested. The concession area at Pico Machay has been expanded to 4,500 hectares by the recent staking of an adjoining 800 hectares. Absolut Resources' wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Minera Calipuy SAC Sac: see Sac and Fox. SAC - 1. An early system on the Datatron 200 series. [Listed in CACM 2(5):16 (May 1959)]. has an agreement with Monterrico Metals PLC to earn up to a 75% interest in the Pico Machay gold project. Absolut Resources has over CAD$2 million in the treasury and is well financed to carry out the Phase III program at Pico Machay as well as advancing the Hualatan and Carisla projects to the drill ready stage. Absolut Resources Corp. is a precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration and development company based in Toronto, Canada. Absolut strongly believes in an international best practices approach, and implements this on all its social and environmental decisions. Absolut has implemented a quality control program to ensure best practice in geochemical sampling and analysis of surface and reverse circulation drilling samples. NOTE: There are two images available on CCNMatthews' website: PICO MACHAY Regional Geology: http://www2.cdn-news.com/database/fax/2000/abs1208a.pdf PICO MACHAY Detailed Geology: http://www2.cdn-news.com/database/fax/2000/abs1208b.pdf Absolut Resources Corp. Exchange Tower 130 King St West, Suite 3680 Box 99 Toronto, Ontario, M5X 1B1 This press release contains forward looking statements.The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Absolut Resources Corp. (TSX VENTURE:ABS) |
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