Absolut Strikes Gold at Pico Machay.TORONTO -- Absolut Resources Corp. (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 that the company has received drilling results from its phase one reverse circulation drill program completed on the Pico Machay, High Sulphidation Gold Project in Peru. Highlights of the drilling include hole RC105 intersecting in·ter·sect v. in·ter·sect·ed, in·ter·sect·ing, in·ter·sects v.tr. 1. To cut across or through: The path intersects the park. 2. 90m @ 1.61 g/t Au and the discovery hole RC104 returning 63m @ 2.01 g/t Au. All of the holes drilled at Pico Machay intersected significant widths of mineralisation from near surface, validating the geological model. Drilling was targeted to intersect the central portion of a 1.4km by 150m resistive resistive /re·sis·tive/ (re-zis´tiv) pertaining to or characterized by resistance. unit defined by prior geophysical surveys. The resistive body expresses itself at surface as a vuggy silica unit striking east west and forming a dip slope A dip slope is a geological formation often created by erosion of tilted strata. It is seen in large ridges that have one side that is steep and irregular (an escarpment) and the other side, the dip slope, that is generally planar and tilting at a continuous angle. on the southern side of the central mineralised ridge. Drill results are as follows:
From To Interval
Hole # (meters) (meters) (meters) Au (g/t) Ag (g/t)
RC101 0.0 74.5 74.5 0.66 3.24
including 1.0 14.5 13.5 0.83 5.78
& 35.5 74.5 39.0 0.74 2.93
RC102 0.0 125.5 125.5 0.64 2.04
including 98.5 125.5 27.0 1.05 0.86
RC103 0.0 22.0 22.0 1.34 8.55
65.5 76.0 10.5 0.84 1.40
RC104 5.5 68.5 63.0 2.01 7.94
158.5 166.0 7.5 1.09 2.82
RC105 1.0 91.0 90.0 1.61 6.62
including 1.0 16.0 15.0 2.97 14.12
& 16.0 91.0 75.0 1.34 5.11
RC106 1.0 14.5 13.5 0.81 1.28
86.5 101.5 15.0 0.83 2.85
As a reference, the Newmont / Buenaventura world-class Yanacocha high sulphidation gold mine has an overall grade of 0.96 g/t Au and Barrick's Alto Chicama deposit grades 1.39 g/t Au. A second geophysical anomaly with dimensions of 1km by 400m has also been detected 500m to the northwest of the central zone. This anomaly lies beneath shallow soil cover and the upcoming field campaign will focus on detailed mapping and sampling and potential drilling as part of a phase two program. Absolut's 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 has an agreement with Monterrico Metals PLC to earn up to a 75% interest in the Pico Machay gold project. Absolut has implemented a quality control program to ensure best practice in chemical sampling and analysis of surface and reverse circulation drilling samples. All samples were transported from the Pico Machay project under independent supervision to ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex Laboratories in Lima, Peru. 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 and the company's consultants Ironbark ironbark Noun an Australian eucalyptus with hard rough bark Geoservices SRL 1. SRL - Bharat Jayaraman. ["Towards a Broader Basis for Logic Programming", B. Jayaraman, TR CS Dept, SUNY Buffalo, 1990]. 2. SRL - Schema Representation language. 3. SRL - Structured Robot Language. C. Blume & W. Jacob, U Karlsruhe. is providing technical management to the project. Under the guidelines of the 43-101 National Instrument the required qualified person for the Pico Machay Gold Project is Mr. Dan Noone who is a member of the Australian Institute of Geoscientists. This press release contains forward looking statements. To view map of Pico Drill Section 477800, please go to: http:// www.absolutresources.com/gallery/images/PicoDrillSection477800.jpg To view map of Pico Resistivity resistivity Electrical resistance of a conductor of unit cross-sectional area and unit length. The resistivity of a conductor depends on its composition and its temperature. Plan, please go to: http://www.absolutresources.com/gallery/images/PicoResistivityPlan.jpg 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. |
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