Southwestern Gold - Drilling Commences on the Minaspata Property, Peru.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 4, 1997-- Southwestern Gold Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : SWG SWG abbr. standard wire gauge ) Southwestern Gold Corporation (SWG-T) is pleased to announce that Cominco Ltd.'s Peruvian subsidiary, as operator, has informed the Company that a 27 hole reverse circulation drilling program has commenced on the Minaspata Property, Peru. Minaspata is located about 110 kilometres southwest of Cuzco and is comprised of 28,600 hectares of exploration concessions. Cominco's subsidiary has completed a detailed surface evaluation of the Property including alteration mapping, extensive rock chip sampling and geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. . This work has defined three large gold 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. systems associated with acid-sulfate alteration in Tertiary volcanics. Gold mineralization is intimately associated with vuggy-silica and alunite al·u·nite n. A gray mineral, chiefly K2Al3(OH)6(SO4)3, used in making alum and fertilizer. which in places is exposed over a vertical distance of 150 metres. The Cerro Utunsa Zone is roughly 2,000 by 1,500 metres in size. Results of rock chip sampling in this zone returned values of up to 40 metres of 2.2 grams/tonne gold. This zone is also defined by a broad resistivity resistivity Electrical resistance of a conductor of unit cross-sectional area and unit length. The resistivity of a conductor depends on its composition and its temperature. high indicating intense 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. to at least 250 metres depth. The Quellocirca Zone is 2,000 by 1,000 metres and like the Cerro Utunsa Zone, the gold mineralization is within vuggy silica. Surface rock chip results included 30 metres of 3.8 g/t gold, 30 metres of 1.9 g/t gold, 150 metres of 1.0 g/t gold and 20 metres of 1.2 g/t gold. Both the Cerro Utunsa and Quellocirca zones represent very large tonnage targets. The Minaspata Property is owned 100 percent by the Abancay Joint Venture (Southwestern 50 percent, Cambior 41.5 percent and Cambiex 8.5 percent). Cominco's subsidiary can earn 50 percent of the Property by making cash payments totaling US $ 2.8 million and drilling 10,000 metres by June, 1999. Southwestern is an international exploration company with projects in Chile, Peru, Brazil and China. CONTACT: Southwestern Gold Corporation George H. Plewes, 604/669-2525 604/688-5175 (fax) |
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