ELDORADO CORP. - COMPREHENSIVE SURFACE EXPLORATION PROGRAM UNDERWAY AT THE LA COLORADA MINE.CORPORATION(TSE, VSE, BSE: ELD ) Eldorado Corporation Ltd. is pleased to announce the commencement of comprehensive soil geochemical and geophysical surveys immediately surrounding the La Colorada Mine. These surveys are being carried out as part of the previously announced mine expansion study which is being managed by Steffen, Robertson & Kirsten. The soil geochemical and geophysical surveys will cover in excess of nine square miles resulting in approximately 3,000 soil samples and 100 line miles of geophysics. Areas of particular interest include the Humberto Zone, the La Colorada Southeast Exploration Area, the Sonora Sonora (sōnō`rä), state (1990 pop. 1,823,606), 70,484 sq mi (182,554 sq km), NW Mexico, on the Gulf of California, S of Arizona. Hermosillo is the capital. Sonora is mostly mountainous, with vast desert stretches; along the gulf are low, broad coastlands. I Exploration Area, the Creston Dos and Creston Tres Exploration areas. Results of the surveys will be used to establish targets for follow up trenching and drilling. HUMBERTO ZONE As announced on June 1, 1995, a new zone of mineralization has been identified approximately one mile east of the El Creston gold deposit. The zone extends for approximately 2,000 feet on surface and is associated with quartz-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. Hematite that has a metallic luster is called specular hematite, or specular iron.-manganese alteration. Surface sampling of old workings have returned values up to 0.013 oz/ton gold while a recently completed reverse circulation drill hole intercepted 85 feet grading 0.015 oz/ton gold. LA COLORADA SOUTHEAST EXPLORATION AREA La Colorada Southeast refers to an area adjacent to the La Colorada Sur Este Azzo d'Este II, 996–1097, lord of Este and the founder of his family's greatness, was invested with Milan by the emperor. Azzo's son, Guelph d'Este IV or Welf IV, d. 1101, was adopted by his maternal uncle, Guelph III, whom he succeeded as duke of Carinthia. In 1070 he was made duke of Bavaria. fault trending southwest from the Humberto zone for approximately three-quarter of a mile. The La Colorada Sur Este fault has been highlighted as a prime target for El Creston-Minas Prietas type deposits with the discovery of gold at the Humberto zone. This structure has been projected into the Creston Dos claim area approximately two and one-half miles to the south of the Humberto zone. SONORA I EXPLORATION AREA The Sonora I area refers to the area north of the Humberto zone and east of the El Creston-Minas Prietas deposits. This area is a priority exploration target as it is traversed by several north easterly trending structures including the projection of the Colorada Norte and Sur structures. CRESTON DOS - CRESTON TRES EXPLORATION AREAS These areas lie adjacent to, or underlie areas of proposed expansion pad, waste dump and plant facilities south of the Gran Central gold deposit. Condemnation and exploration of this area is of high priority as they lie within the projections of prominent ore related structures (La Colorada Norte, La Colorada Sur and La Colorada Sur Este). LA COLORADA ZONE The La Colorada zone is located along the northern margin of the same diorite intrusive hosting the Gran Central gold deposit. The diorite contact with rhyolite rhyolite, fine-grained light-colored acidic volcanic rock. Rhyolite is chemically the equivalent of granite, and is thus composed primarily of quartz and orthoclase feldspar with subordinate amounts of plagioclase feldspar, biotite mica, amphiboles, and pyroxenes. Rhyolite lava exhibits a typical banded structure produced by its flow pattern. Rhyolite lavas occur in continental and submarine volcanoes, especially island arcs, and in igneous dikes. volcanics is silicified and sericite altered with quartz sulphide veinlets. Previous drilling by previous owner recovered an intercept of 57 feet grading .032 oz/ton gold. Results of the ongoing exploration program will be released on a timely basis. On behalf of Eldorado Corporation Ltd. Richard J. Barclay President NOTE: Location map available from the Company at the phone number listed above. CONTACT: Richard J. Barclay, 604/687-4018 604/687-4026 (fax) |
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