Argentina Gold Corp. - Initial Assay Results - Veladero Property.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 14, 1996--ARGENTINA GOLD CORP. (VSE See DOS/VSE. VSE - Virtual Storage Extended :ARP) (the "Company") is pleased to announce the first assay results received from the reverse circulation drilling programme being conducted on the Veladero property in which the Company, as operator, holds a 60 percent interest and Barrick Exploraciones holds a 40 percent interest (see attached map). -0-
Drill Hole Total From To Interval Average
Depth (Metres) (Metres) (Metres) G/Tonne
(Metres) Gold
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1 200 0 60 60 2.16
86 106 20 2.18
124 156 22 1.01
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2 85 60 72 12 0.63
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3 150 60 72 12 1.56
90 110 20 1.14
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4 103 2 14 12 0.93
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5 150 0 6 6 1.53
40 150 110 2.29
including 64 3.26
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Drilling is being carried out in a silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. zone (Breccia Agostina) which is approximately 100-150 metres wide and which was outlined by previous IP-resistivity surveys. The strike length of the anomaly being tested is continuous for 2.5 km. of which 1 km. is being tested by the present drilling program. To-date a total of 2,250 metres have been drilled. Drilling continues and will exceed the proposed 2,500 metre drill program. Further results will be announced shortly. Drill hole no. 1 was drilled entirely in the breccia zone with different degrees of silification and several fracture zones. A major fault was intersected at 195 metres. Hole no. 2 was a geological test of the extension of the breccia zone which was encountered at 54 metres. Drilling started in colluvium col·lu·vi·um n. pl. col·lu·vi·ums or col·lu·vi·a A loose deposit of rock debris accumulated through the action of gravity at the base of a cliff or slope. in drill hole no. 3 and the breccia zone was entered at 55 metres and continued to 135 metres where silicified ignimbrite ig·nim·brite n. A volcanic rock formed by the welding together of tuff material from an explosive volcanic eruption. [Latin ignis, fire + imber, imbr-, rain + was encountered. Drill hole no. 4 started in the breccia zone. A fault was entered at the 50 metre level where silicified vulcanite vulcanite (vul´k  nīt),n a hard material with a form of rubber as the base; formerly used for denture bases. with intense sulphide mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. was encountered. Drill hole no. 5 is 50 metres to the south of drill hole no. 1. A series of breccias with layers of ignimbrites and different intensities of silification were encountered. A fault zone was found at 147 metres. The Company also reports that the 1,200 metre core drilling programme at the Rio Frio Project continues. The Company's joint venture partner, Western Mining Corp. (WMC WMC Winter Music Conference WMC Weill Medical College (Cornell University) WMC Wisconsin Manufacturers and Commerce (Madison, WI) WMC Westchester Medical Center WMC Western Mining Corporation ), is presently carrying out core drilling to intersect the ore body located below the Chezanco (Zancarron) Mine. Alunite al·u·nite n. A gray mineral, chiefly K2Al3(OH)6(SO4)3, used in making alum and fertilizer. bearing breccia zones have been intersected. Assay results are pending. The Company also reports that the drilling programme on the Del Carmen Carmen throws over lover for another. [Fr. Lit.: Carmen; Fr. Opera: Bizet, Carmen, Westerman, 189–190] See : Faithlessness Carmen the cards repeatedly spell her death. [Fr. Project, where the Company holds a 40 percent interest and Barrick Exploraciones, as operator, holds a 60 percent interest, has commenced. ON BEHALF OF THE BOARD Lukas H. Lundin Director CONTACT: Argentina Gold Corp. Lukas H. Lundin, 604/689-7842 |
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