Corriente Resources - Drilling Underway at Chama Project in Peru.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 19, 1997-- Corriente Resources (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CTQ CTQ Centre de Toxicologie du Québec CTQ Critical To Quality CTQ Cysteine Tryptophylquinone CTQ Confined to Quarters ) 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 has commenced on Corriente's 100 percent owned Chama Project in south-central Peru. Initial results of the 5000 metre program are expected in early May, 1997. Geological discoveries on the property are continuing with the completion of six shallow pits which have been blasted in the surface outcrop to test the effect of surface leaching of the gold grades at Chama. Approximately 70 kilograms of samples have been retrieved for assay and results should be available by mid-April. The company is encouraged by the presence of extensive hematite hematite (hĕm`ətīt), mineral, an oxide of iron, Fe2O3, containing about 70% metal, occurring in nature in red to reddish-brown earthy masses and in steel-gray to black crystalline forms. in the pits which supports the interpretation that gold grades (which correlate with hematite) should increase with depth compared to surface samples. Additional work has uncovered the presence of native sulphur Noun 1. native sulphur - an old name for sulfur brimstone, native sulfur atomic number 16, sulfur, sulphur, S - an abundant tasteless odorless multivalent nonmetallic element; best known in yellow crystals; occurs in many sulphide and sulphate minerals and at the surface at Chama which is associated with 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. at the Pierina project of Barrick Gold in Peru. Further, a regional prospecting program has outlined additional quartz-alunite targets in the vicinity of Chama and sampling of these new discoveries is currently underway. In separate activities, the Company has decided to secure a drill contract (to begin late April, 1997) for an initial 3000 metre drill program on the 100 percent owned Laurani silver-gold-copper project in Bolivia. This program will test three new quartz-alunite zones that were discovered by a program of alteration studies carried out by the company. These new targets are from 0.5 to 2 kilometres south of the existing workings at Laurani and represent a significant expansion of the epithermal system as it is presently understood. Given the size of the drill targets as outlined in the press release of October 24, 1996 (up to 1.5 X 0.5 kilometres) the potential at Laurani is considerable. Results from the drilling will be available in early summer, 1997. Kenneth R. Shannon, President The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the information contained herein. CONTACT: Corriente Resources Inc. Mr. Dan Carriere, 604/ 687-0449 604/ 687-0827 (FAX) http://www.info-mine.com/corriente |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion