Orvana Minerals - Vinto Project, Bolivia Update.VANCOUVER, British Columbia--(BUSINESS WIRE)--June 12, 1997-- Orvana Minerals Corp (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ORV ORV abbr. off-road vehicle .) Orvana Minerals Corp. (ORV-T) and its Bolivian joint venture partner EMUSA have completed a second phase of drilling at their jointly owned (50 percent Orvana, 50 percent EMUSA) Vinto prospect 5 kilometres southeast of Oruro in the Altiplano altiplano (ăl'tĭplä`nō), high plateau (alt. c.12,000 ft/3,660 m) in the Andes Mts., c.65,000 sq mi (168,350 sq km), W Bolivia, extending into S Peru. . Vinto is an Ordovician-age, sediment-hosted, structurally related, fine grained gold deposit associated with antimony antimony (ăn`tĭmō'nē) [Lat. antimoneum], semimetallic chemical element; symbol Sb [Lat. stibium,=a mark]; at. no. 51; at. wt. 121.75; m.p. 630.74°C;; b.p. 1,750°C;; sp. gr. (metallic form) 6. - similar in setting to the Pederson deposit. (The Pederson deposit has previously been reported to contain a resource of 52.6 million tonnes at 1.4 grams gold per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. totaling 2.3 million ounces gold). A total of 16 reverse circulation (RC) holes have been drilled at the Vinto prospect within an area 1 kilometre long by 200 metres wide (see attached figure). Seven holes were drilled in 1996 for which highlights have been previously reported (September 25, 1996 release) and nine holes were completed in 1997. Summary data for all drillholes are here reported, using as a cutoff a 3 meter minimum thickness with a minimum gold value of 0.5 grams gold per tonne. Drillholes are all inclined from 45 to 70 degrees. Significant 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. has been intersected in 13 of the 16 holes as summarized on the attached table. Highlights include: Results of 13 mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. holes drilled in a portion of the mineralized zone identify more than 7 million tonnes grading in excess of 1.0 grams gold per tonne. Gold mineralization occurs as fine disseminations associated with 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. in Llallagua Formation sandstone/quartzites. The mineralization remains open, particularly along strike, with considerable additional inferred extension based on surface 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 , alteration Modification; changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. and geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. as well as structural projection. The extent of the mineralized area appears greater than 2 kilometres long by 200 metres wide, within which a geological potential for plus-one million ounces gold is considered reasonable. Mineralization is oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. to a depth of more than 100 metres and occurs along an elongate e·lon·gate tr. & intr.v. e·lon·gat·ed, e·lon·gat·ing, e·lon·gates To make or grow longer. adj. or elongated 1. Made longer; extended. 2. Having more length than width; slender. ridge, suggesting that Vinto would be amenable AMENABLE. Responsible; subject to answer in a court of justice liable to punishment. to low cost open pit mine development and heap leach leach v. leached, leach·ing, leach·es v.tr. 1. To remove soluble or other constituents from by the action of a percolating liquid. 2. processing. The presence and scale of potentially economic gold mineralization at Vinto in addition to the Pederson deposit confirms the presence of a sediment sediment, mineral or organic particles that are deposited by the action of wind, water, or glacial ice. These sediments can eventually form sedimentary rocks (see rock). hosted fine grained gold, antimony district in the Altiplano region. Planning continues for a 1997 follow-up program to expand the mineralized system on Vinto. Additional results will be reported as they become available. -0-
Vinto Project, Bolivia
1996-1997 Reverse Circulation Drill Summary
(Cutoff: minimum 3 m continuous thickness
at 0.5 grams Au/tonne)
Hole Length From To Interval grams Au/tonne
PV-1 164.6 0.0 3.0 3.0 0.730
68.6 71.6 3.0 1.042
--------------------
total 6.1 0.886
PV-2 199.6 4.6 7.6 3.0 0.823
29.0 32.0 3.0 0.959
--------------------
total 6.1 0.891
PV-3 152.4 42.7 50.3 7.6 1.649
129.5 134.1 4.6 1.632
137.2 140.2 3.0 0.774
--------------------
total 15.2 1.469
PV-4 82.3 no significant mineralization
PV-5 106.7 10.7 13.7 3.0 1.216
59.4 65.5 6.1 0.524
--------------------
total 9.1 0.755
PV-6 102.1 1.5 4.6 3.0 0.516
22.9 27.4 4.6 0.661
35.1 38.1 3.0 0.873
39.6 47.2 7.6 1.420
61.0 64.0 3.0 2.902
65.5 68.6 3.0 2.902
79.2 96.0 16.8 0.765
--------------------
total 41.1 1.181
PV-7 187.5 4.6 7.6 3.0 11.475
15.2 42.7 27.4 1.700
45.7 51.8 6.1 0.719
--------------------
total 36.6 2.351
1996 - Total 7 holes
995.2 m average 17.0 m 1.515 grams Au/tonne
PV-8 125.0 103.6 109.7 6.1 1.574
115.8 123.4 7.6 0.711
--------------------
total 13.7 1.095
PV-9 128.0 10.7 16.8 6.1 1.279
PV-10 125.0 no significant mineralization
PV-11 152.4 6.1 9.1 3.0 0.656
24.4 27.4 3.0 1.114
32.0 38.1 6.1 0.896
44.2 57.9 13.7 0.590
64.0 67.1 3.0 0.598
76.2 79.2 3.0 0.560
89.9 94.5 4.6 0.663
106.7 111.3 4.6 0.874
117.3 121.9 4.6 0.788
128.0 131.1 3.0 0.513
--------------------
total 48.8 0.711
PV-12 135.6 no significant mineralization
PV-13 207.3 16.8 21.3 4.6 0.731
35.1 41.1 6.1 2.286
167.6 172.2 4.6 0.836
--------------------
total 15.2 1.385
PV-14 172.2 15.2 33.5 18.3 0.965
50.3 57.9 7.6 0.805
135.6 144.8 9.1 0.512
--------------------
total 35.1 0.812
PV-15 179.8 6.1 9.1 3.0 0.509
16.8 19.8 3.0 0.736
103.6 106.7 3.0 0.994
--------------------
total 9.1 0.746
PV-16 173.7 22.9 25.9 3.0 0.680
39.6 42.7 3.0 0.695
53.3 56.4 3.0 0.569
115.8 120.4 4.6 0.835
--------------------
total 13.7 0.710
1997 - Total 9 holes
1,399.0 m average 20.2 m 0.872 grams Au/tonne
1996-97 - Total 16 holes
2,394.2 m average 18.8 m 1.141 grams Au/tonne
CONTACT: Orvana Minerals Corp. D. Neil Hillhouse, 604/682-4929 or Orvana Minerals Corp. Nancy E. Woo, 604/682-4929 or Orvana Minerals Corp. Leigh W. Freeman Freeman can mean:
http://www.orvana.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion