Drilling Programs Commencing on Four Argentina Gold Projects.
The project areas involved are Veladero, which is being jointly explored by the Company (with a 60 percent interest) and Barrick Exploraciones (with a 40 percent interest), Del Carmen, which is being jointly explored by Barrick Exploraciones (with a 60 percent interest) and the Company (with a 40 percent interest), and the Rio Frio and La Poposa projects, both of which are being jointly explored by Western Mining Corp. (to earn a 60 percent interest) and the Company.
At the Veladero Project, the Company, as operator, has completed 27 kilometres of IP-resistivity surveying which has outlined an anomalous zone of 3 kilometre strike length coincident with sporadic outcrops of a mineralized, silicified breccia zone (Breccia Agostina) carrying gold values of up to 9.0 g/tonne gold at surface. A reverse circulation drill program of up to 2,500 metres has commenced today. At the Del Carmen Project, Barrick, as operator, is conducting geophysical surveys, road construction and drill site preparation. Approximately 16 kilometres of IP-resistivity surveying has been completed on the Rojo Grande target. Preliminary results indicate a resistivity anomaly that coincides with the favourable argillic alteration. A reverse circulation drill program of up to 4,000 metres will commence in mid-March, 1996.
At the Rio Frio Project, Western Mining has commenced a core drilling program of up to 1,200 metres at the Chezanco Prospect. Western Mining has advised that they will be adding a second rig at Chezanco and may conduct a reverse circulation drill program at another target area known as the Rio Frio alteration.
At the La Poposa Project, Western Mining has advised that it intends to carry out a reverse circulation drill program on altered areas identified as favourable for gold mineralization. A drilling program of up to 3,000 metres will commence the first week of March, 1996.
Management is pleased with the progress being made on these projects noting that at present a minimum of 10,000 metres of drilling is being carried out by 5 drill rigs on its properties. Results from the various programs will be reported on a timely basis when available.
ON BEHALF OF THE BOARD
"J. Patricio Jones"
NOTE - There is a map available by contacting the company at the number below.
CONTACT: Argentina Gold Corp.
J. Patricio Jones, 604/689-7842