Jersey Goldfields -- Drilling Commences at the Pilzhum Project.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 21, 1996-- Dr. Peter J. Guest reports: Jersey Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Corp. (the "Company") (VSE See DOS/VSE. VSE - Virtual Storage Extended :JRG JRG joint review group (US DoD) JRG Junta Revolucionaria de Gobierno (Revolutionary Governing Junta; El Salvador) JRG Jim Roberts Group ) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Jerseymines Minera del Ecuador S.A., are pleased to announce that drilling has commenced as of Nov. 19, at the Pilzhum Project in Canar Province in Ecuador, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Preliminary results have been received on approximately half of 450 rock chip samples and have yielded values exceeding 10 ppm gold and 57 ppm silver. LA ENVIDIA: Complete drill results are still pending from a recently completed eleven hole drill program at the La Envidia project in Cotopaxi Province Cotopaxi is one of the provinces of Ecuador. The capital is Latacunga. The province contains the Cotopaxi Volcano, an intermittent volcano with a height of 19,388 feet. The province is divided into 7 cantons. . Preliminary gold results have been received from 2 of the 11 holes and copper results have been received from 1 of the 11 holes. The best interval to date has returned 2.9 grams per tonne gold over 1.5 meters. Numerous anomalous areas over 100 ppb gold are observed in both holes. EL ROSARIO: At the El Rosario Project, in Canar Province, a program of access improvement, mapping and sampling is nearing completion. Recent rock chip sample results have outlined a zone of 450 meters by 200 meters within which 36 percent percent of all surface samples run in excess of 1 ounce per ton (31 grams) silver. Highest values exceed 16 ounces per ton (+500 grams) silver and one ounce per ton (31.16 grams) gold. Several other target areas are being tested to define a drill program scheduled to commence in the near future. CHICAL: Gold values of over 6 grams per tonne and numerous samples over 1 gram per tonne of gold, have been received in soil samples from the Chical Project in Carchi Province in northern Ecuador. The majority of these samples were taken from an area recently accessed by road construction. Work continues to prepare this project for a drill program to commence in the new year. The Company has a large land position in Ecuador consisting of 46 concessions, well distributed throughout the mineral belts of the Andean Cordillera cor·dil·le·ra n. An extensive chain of mountains or mountain ranges, especially the principal mountain system of a continent. [Spanish, from cordilla, diminutive of cuerda, cord . Eight of twenty-one projects have been joint ventured to other companies including Gencor of South Africa. The Company is actively pursuing additional mineral property acquisitions in South America and is considering further joint venture arrangements on its properties in Ecuador. -0- Note to Editors: 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 not reviewed and is not responsible for the accuracy or adequacy of this news release. CONTACT: Jersey Goldfields Corporation Jim Yates, 604/683-5651 Rose Moon, 604/ 683-5651 |
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