Orvana Reports Drill Results from the Esperanza Gold/Silver Property, Chile.VANCOUVER, Bc--(BUSINESS WIRE)--Jan. 22, 1996--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. reports results of the November 1995 drill program at the Esperanza gold/silver property, Chile. Esperanza is a large, "La Coipa-type", volcanic-hosted precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. system, located in the Maricunga Gold Belt of northern Chile. The joint venture between Orvana (40 percent) and Hemlo Gold Mines Inc. (60 percent) has an option to purchase a 100 percent interest in the 114 square kilometre Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
Eighteen reverse circulation drill holes (totaling 2,393 metres) were completed. The program tested a variety of targets on the Esperanza property including volcanic, intrusive and sediment hosted disseminated/stockwork gold, volcanic hosted gold/silver in 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. mantos, and gold bearing vuggy silica silica or silicon dioxide, chemical compound, SiO2. It is insoluble in water, slightly soluble in alkalies, and soluble in dilute hydrofluoric acid. Pure silica is colorless to white. zones.
TARGET DRILL INTERVAL INTERCEPT ASSAY
AREA HOLE from to Gold Silver
(metres) (metres) (g/t) (g/t)
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Arqueros
Sur 95-12 22 32 16 0.9 6.7
Arqueros
Sur 95-15 74 116 42 3.46 87.7
includes 80 88 8 12.33 160.0
Arqueros
Sur 95-16 130 178 48 trace 72.8
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Carachitas
W 95-04 0 180 180 0.17 <0.3
Carachitas
W 95-05 4 168 164 0.30 <0.3
Carachitas
W 95-06 6 150 144 0.35 <0.3
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Santa
Rosa E 95-01 80 124 44 0.3 2.4
Santa
Rosa E 95-02 8 44 36 0.5 18.4
Santa
Rosa W 95-08 12 158 146 trace 21.7
includes 14 52 38 trace 53.8
includes 22 30 8 trace 75.6
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Hole 95-15 was drilled across a vuggy silica zone 500 metres south of the Arqueros prospect previously identified by Anglo American. The 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. and host rocks are identical in both areas and they may represent parts of the same or parallel zones. The hole was collared 100 metres along strike from Anglo's drill hole SP-85, which intersected 26 metres of 1.1 grams of gold per tonne, 16 metres of 1.3 grams of gold per tonne, 6 metres of 1.3 grams gold per tonne and 36 metres of 120 grams silver per tonne. A diamond drill hole planned in 1996 will check for suspected down-hole contamination in Hole 95-15. Results from the Santa Rosa Santa Rosa, city, Argentina Santa Rosa, city (1991 pop. 80,629), capital of La Pampa prov., central Argentina. It is a modern city and road junction surrounded by a rich agricultural and cattle-raising area. and Carachitas W target areas are considered encouraging, as they reflect, over extensive areas, similar alteration and mineralization to other large deposits in the Maricunga Gold Belt. The Orvana/Hemlo joint venture is currently planning a Phase II drill program at Esperanza to drill 2000-3000 metres with a combination of reverse circulation and diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral . Orvana, as operator, expects to commence the program in February, 1996. CONTACT: Orvana Minerals D. Neil Hillhouse or Thomas W. Beattie (604) 682-4929 |
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