Argosy Mining - Slovakia Drilling Program Underway.VANCOUVER, B.C.--(BUSINESS WIRE)--June 10, 1996--The Company is pleased to announce that diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral is underway on its epithermal gold properties in the Slovak Republic. A two-stage 20,000 metre (66,000 ft) program is proceeding at the Kremnica and the Pukanec projects utilizing two Longyear Super 38 drills supervised by Canadian crews. Both drills will be sited at Kremnica for approximately two weeks, after which one drill will be moved to the Pukanec property. This drilling sequence has been determined by site logistics. The objective of phase one drilling at Kremnica is to extend the Sturec reserves (428,000 ozs gold equivalent) with an initial 18 holes. Phase two drilling will test the Katerina target west of the Sturec reserve block. The Katarina target is a zone of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. 300 m by 600 m (1,000 ft by 2,000 ft). Phased drilling on the Pukanec Project will begin with an 18 hole program on the Biela Bana zone (1,300 m by 260 m/4,264 ft by 850 ft) and the Pukliar zone (500 m by 250 m/1,640 ft by 820 ft). Trenching on the Pukanec property has continued to define additional zones of gold-silver mineralization. Following encouraging trench trench: see ocean. results, a new drill target is now being prepared for drilling at the Agras Zone, 600 m (2,000 ft) west of the Biela Bana Zone. The mineralization trenched to date has a strike length of 500 meters and averages 75 meters in width (1,640 ft by 246 ft). Mineralization is both in veins and disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. within 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. andesite andesite Any member of a large family of rocks that occur in most of the world's volcanic areas, mainly as surface deposits and to a lesser extent as dikes and small plugs. . Grades in soil/weathered bedrock range from 0.2 to 5.6 g/t gold and 5.0 to 225 g/t silver (0.006 to 0.164 oz gold/ton and 0.146 to 6.57 oz silver/ton). Old mine workings indicate that the zone continues for at least a further 500 m (1,640 ft) to the north where additional sampling is planned. Argosy will report drill results following completion of each phase of drilling on each property. ON BEHALF OF THE BOARD Yale R. Simpson President -0- NOTE TO EDITORS: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the contents of this News Release. CONTACT: Argosy Mining Corp. Yale R. Simpson, 604/689-5529 1-800-851-7423 604/689-5079 (Fax) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion