Jersey Goldfields Progress Report Regarding Pilzhum and La Envidia Projects.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 5, 1996-- 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. Co(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 ) Dr. Peter J. Guest reports: Jersey Goldfields Corporation (the "Company") 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 are pleased to announce progress on both their Pilzhum and La Envidia properties in Ecuador. At Pilzhum, drilling has recently commenced to investigate anomalies generated in an earlier rock chip sampling program, and various structures delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. by mapping. Currently, four holes have been completed to an average depth of 100 meters (328 feet) and the fifth is in progress at 75 meters (246 feet) with a target depth of 150 meters (492 feet). An additional three holes were planned, but this has been increased to five based on the encouraging results to date. All holes have intersected zones of silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. , argillization, and sulphides (including pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. and copper sulphides and quantities of sulphide minerals, which seem to be sulphosalts of silver and copper). One of the holes (PD96-16), which has been drilled in an area designated as "Zone A", is currently being sampled. This hole was drilled within 50 meters (164 feet) of an existing hole which cut 22.5 meters (73.8 feet) of volcanics which carried .5 grams/tonne (.02 ounces/tonne) gold and 42.8 grams/tonne (1.38 ounces/tonne) silver. Channel samples taken in trenches below hole PD96-16 cut silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. and oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. volcanics and yielded values of 2.95 grams/tonne (.09 ounces/tonne) gold over 37.2 meters (122.0 feet), including 4.19 grams/tonne (0.13 ounces/tonne) over 25.2 meters (82.7 feet). PD96-16 itself has cut over 50 meters (164 feet) of silicified and brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec volcanics which appear similar to the trench samples 50 meters (164 feet) away. The true width of this zone is estimated at 35+ meters (115+ feet). Rock chip geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of has indicated there are several other anomalous zones on the property. Zone B is approximately 1 km (3,280 feet) NW of Zone A and has numerous jasperiod bodies in volcanics. One six meter (19.7 feet) zone averages 60.2 grams/tonne silver (1.94 ounces/tonne). Twelve hundred meters (3,936 feet) to the SE of Zone A, is Zone C which is a newly discovered fault controlled zone having 29.2 grams/tonne (0.94 ounces/tonne) silver over three meters (9.8 feet). This area is currently being resampled to expand this anomalous zone. Another newly discovered zone, Zone D, is located 1.5 km (4,920 feet) WSW of Zone A. In Zone D, channel samples assayed 42.9 grams/tonne silver (1.38 ounces/tonne) over 5 meters (16.4 feet) including 3 meters (9.8 feet) at 68.6 grams/tonne silver (2.21 ounces/tonne). This zone is observed over 50 meters (164 feet) and is parallel to Zone A. This area is currently being sampled to expand the zone. Drilling will be complete in January with results to follow shortly. Final results are in hand for the drill program at the La Envidia Project. A total of 11 holes were drilled although the last hole was lost before reaching target depth. Total meterage was 1033 (3,388 feet). The area investigated was approximately 1300 x 1100 meters (4,264 x 3,608 feet). The last hole was drilled an additional 600 meters (1,968 feet) to the east but was lost at a depth of only 23 meters (75 feet). Holes were targeted to give stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat information, test geophysical targets and geochemical targets. The tabulated results for material in excess of one gram per tonne (0.03 ounces/tonne) gold and/or 0.1 percent copper are as follows: -0-
Hole # Interval Width Au grams/tonne Cu
(m) (m) Percent
2 9-16.5 7.5 2.29 -
49.5-57.0 7.5 - .233
79.5-97.5 18.0 - .230
incl. 85.5-87 1.5 1.76 .252
incl. 91.5-97.5 6.0 - .483(x)
3 12.0-15.0 3.0 1.78 -
6 42.0-48.0 6.0 - .150
84.0-126.0 42.0 - .144
incl. 84.0-109.5 25.5 - .184
7 43.5-55.5 12.0 - .410
85.5-102 16.5 - .237(x)
9 31.5-48.0 16.5 - .124
10 87.0-105 18.0 - .130
(x) = hole ends in this mineralization
-0- More complete interpretations of the recently completed geophysics are expected in the near future and will be used with the current results to plan additional programs in this area. -0- NOTE: 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 does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Barrington Communications Group Jill Brand, 604/ 682-1700 1-800-663-0321 or Jersey Goldfields Corporation Rose E.L. Moon, 604/ 683-5651 |
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