Argosy Mining Further Kremnica Drilling Results.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 25, 1996-- Argosy Mining Corp. (VSE See DOS/VSE. VSE - Virtual Storage Extended :AGO) Argosy is pleased to announce its new 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 results at the Kremnica project, located in the central Slovak Republic, Europe. Drilling commenced in June and is planned to continue into December. At Kremnica, Argosy has received substantially all of the assay results from its 29 hole, 3634 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, Phase I diamond drilling program. Results were released previously for twelve complete and six partial holes. The significant drill intercepts in all drill holes are listed in the attached table. The drill intercepts that are either new or that have been extended by the latest assays are indicated below. The new assay data demonstrates that Argosy is continuing to confirm and extend the Sturec gold deposit. -0-
Drill Hole From To Length Gold Silver
(m) (m) (m) (g/t) (g/t)
AS-1 87.4 95.3 7.9 1.88 9.2
AS-2 79.1 80.2 1.1 15.30 7.1
111.6 117.5 5.9 2.72 20.2
AS-3.1B 55.2 64.0 8.8 1.64 5.8
AS-4 1.5 43.0 41.5 1.53 14.3
AS-4D 8.2 10.8 2.6 6.83 27.5
14.0 54.0 40.0 1.88 18.1
57.0 93.0 36.0 1.67 13.6
99.0 116.0 17.0 1.04 27.0
AS-4.5.1A 2.0 23.6 21.6 1.56 10.2
AS-4.5.1B 4.7 46.0 41.3 1.05 9.5
AS-5.1.1A 1.5 56.0 54.5 4.24 36.2
AS-5.1.1B 2.0 22.0 20.0 1.21 10.6
AS-6 114.2 129.0 14.8 1.35 23.7
145.0 171.0 26.0 2.48 54.2
AS-7 121.3 182.0 60.7 4.84 41.9
Argosy has an on-going check assay program that has modestly affected some of the previously reported assay intervals. The company's current practice is to release assays as they are obtained and to change them as necessary as check assays are received. Drill hole AS- as- pref. Variant of ad-. 7 provides the most significant drill intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. at Kremnica to date. Assays returned from the bottom 22 metres of core extend the intercept to 60.7 metres and increase the average grade to 4.84 g/t gold plus 41.9 g/t silver (previously reported to be 38.7 metres at 3.95 g/t gold). The best interval in the hole is a 24 metre long intercept that averages 9.3 g/t gold. The drill hole was terminated in ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly 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. due to drilling difficulties. Mr. Steven Potter A potter is someone who makes pottery. Potter may also refer to: People
Nine of the drill holes ended in mineralization due to drilling difficulties associated with unstable unstable, adj 1. not firm or fixed in one place; likely to move. 2. capable of undergoing spontaneous change. A nuclide in an unstable state is called radioactive. An atom in an unstable state is called excited. old mine workings. The 9 drill hole intercepts follow: -0-
Drill Hole From To Length Gold Silver
(m) (m) (m) (g/t) (g/t)
AS-4 1.5 43.0 41.5 1.53 14.3
99.0 116.0 17.0 1.04 27.0
AS-4.1A 18.6 68.0 49.4 2.61 20.3
AS4.1B 17.0 86.0 69.0 1.66 12.1
AS-4.5.1B 4.7 46.0 41.3 1.05 9.5
AS-5.1.1A 1.5 56.0 54.5 4.24 36.2
AS-5.1.1B 2.0 22.0 20.0 1.21 10.6
AS-7 121.3 182.0 60.7 4.84 41.9
Argosy's drilling to date indicates the Sturec deposit strikes north and dips to the east at 60 to 80 degrees. Over an 800 metre strike length, its thickness ranges from about 10 metres to more than 100 metres. The thicker part of the deposit is interpreted to occur along a structural intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. which extends beyond the area which has been drilled. Argosy's Phase II Kremnica drilling is underway. The program is testing the Sturec vein system over a 600 metre long zone, south of the Phase I drilling and the untested Katarina target located to the west of Sturec. This winter, the company will initiate metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. studies and resource calculations for the Sturec deposit and analyze historic mine data to generate additional exploration targets. The company also plans to install a sample preparation facility at Kremnica to reduce the time required between drilling and the receipt of assays. An aggressive drilling campaign is planned for 1997. ON BEHALF OF THE BOARD signed by "Y.R. Simpson Simp·son , Sir James Young 1811-1870. British obstetrician and a founder of gynecology. He is also known for introducing the use of chloroform as an anesthetic. " YALE R. SIMPSON, President NOTE: For complete table of drill results please contact the company. 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) 800/851-7423 |
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