Argosy Mining Corp.: Kremnica Geological Resource passes 1 million ounces, drilling continues.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 30, 1997-- ARGOSY MINING (VSE See DOS/VSE. VSE - Virtual Storage Extended :AGO.) Argosy Mining Corp. is pleased to announce that the potential in-situ geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. resource at its Kremnica Gold Property in the Slovak Republic of Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. has passed one million ounces gold, and that exploration is continuing using two drilling rigs. The resources are present within the main Sturec deposit and in a deposit called Vratislav, 300 metres north of Sturec. The potential in-situ geologic resource estimates for these deposits at cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, grades of 0.5 and 1.0 g/t gold are summarized in the following tables: -0-
Kremnica Potential In Situ Geological Resource
(0.5 g/t gold cut-off)
Deposit Tonnes Gold Silver Total Total
Grade Grade Gold Silver
(g/t) (g/t) Ounces Ounces
Sturec(1) 19,495,000 1.54 13.2 965,000 8,273,000
Vratislav(2) 1,060,000 2.18 21.6 74,000 737,000
TOTAL 20,555,000 1.57 13.6 1,039,000 9,010,000
(1.0 g/t gold cut-off)
Deposit Tonnes Gold Silver Total Total
Grade Grade Gold Silver
(g/t) (g/t) Ounces Ounces
Sturec(1) 13,143,000 1.91 15.4 807,000 6,507,000
Vratislav(2) 595,000 3.33 24.7 64,000 472,000
TOTAL 13,738,000 1.97 15.8 871,000 6,979,000
Tonnages and Total Ounces rounded to the nearest 1,000
(1) a new independent resource estimate by Western Services
Engineering
(2) a 1992 unaudited resource estimate by the Slovak Geological
Survey
The in-situ geological resource estimate for the Sturec deposit was calculated by Western Services Engineering of San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] using a three-dimensional computer block model. The modelled part of the Sturec deposit is 1,240 metres long in a north-south direction Noun 1. north-south direction - in a direction parallel with lines of longitude direction, way - a line leading to a place or point; "he looked the other direction"; "didn't know the way home" and is up to 100 metres wide, dipping steeply to the east. Argosy drilled the deposit on east-west lines that are 100 metres apart. Numerous cross-cuts and drill holes tested the deposit before Argosy commenced its drilling program in 1996. Many of these cross-cuts and drill holes and some of Argosy's new drill holes fall between these drill lines, providing confidence that the deposit is continuous between lines. The deposit remains open at depth where Argosy discovered high grade gold 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. in 1996, such as that in hole AS-7, which contains 60.7 metres averaging 4.84 g/t gold and 41.9 g/t silver at a vertical depth of 115 metres. The Western Services Engineering estimate is based on 30 pre-existing cross-cuts (some of which were sampled on both walls), 27 pre-existing drill holes and 33 Argosy diamond drill holes. This database constitutes a total of 7,305 samples. Sample preparation for these samples was conducted by the Slovak Geological Survey The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey Laboratory and SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions Qualitest Inc. of France. Gold assaying was conducted by Slovak Geological Survey (4,677 assays), SGS Qualitest (2,733 assays), Chemex Labs Inc. (245 assays) and Bondar-Clegg & Company (226 assays). The 7,881 assays performed on the 7,305 samples provides Argosy with a reasonable number of check assays. The company has retained half cores from all drill holes in a secure storage facility to allow additional check assays as required. The Sturec block model was created using GEMCOM software and consists of a large number of sub-blocks each measuring ten metres in a north-south direction and five metres in both the east-west and vertical dimensions. Individual sub-blocks were assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a grade using geology and assays from nearby cross-cuts or drill holes. A weighting factor (inverse (mathematics) inverse - Given a function, f : D -> C, a function g : C -> D is called a left inverse for f if for all d in D, g (f d) = d and a right inverse if, for all c in C, f (g c) = c and an inverse if both conditions hold. distance cubed) assures that assays located closer to a sub-block provide a much stronger influence on its grade than assays located farther away. All of the sub-blocks in the quoted Sturec resource occur within 100 metres of two 5-metre composites of assays, each from separate cross-cuts or drill holes. Approximately 60% of the gold resource (579,000 ounces) occurs in sub-blocks that are located within 50 metres of two composites. Approximately 22% of the resource occurs in sub-blocks that are located within 25 metres of two composites, and these resources comprise a Measured and Indicated Mineral Resource of 3,940,000 tonnes averaging 1.67 g/t gold and 14.4 g/t silver. The Vratislav resource estimate was made in 1992 by the Slovak Geological Survey. They categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat the resource as Z2, which is approximately equivalent to an indicated, in-situ geological resource. Argosy has not conducted drilling in this area, and neither Argosy nor Western Services Engineering has verified or audited this resource. The company plans to do exploration at Vratislav during 1997 and will update this resource as it conducts its exploration work. Exploration at Kremnica is continuing with two drilling rigs on-site. Targets being tested are the Sturec deposit and the Wolf, Katarina and Sturec West zones. ON BEHALF OF THE BOARD signed "Y. R. Simpson" YALE R. SIMPSON, President -0- 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 604/689-5079 (FAX) 1-800-851-7423 URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.argosy-mining.com |
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