Each drillhole encountered long intervals (from 30 to 105 metres) of variably altered intrusive rocks that host low-grade gold mineralization. The highest gold values within the low-grade intervals occurred in drillhole TZ-06-8 that assayed 3.7 grams per tonne over 5.2 metres. Other intervals between 10 to 15 metres thick occur in most of the drillholes but assay below the one-gram per tonne gold threshold. Some drillholes have multiple mineralized intervals. Drillhole TZ-13 was the furthest west and the deepest hole. From 96 to 105 metres the hole assayed 0.16% lead, 0.20% zinc, 9.2 grams silver and 0.46 gram gold per tonne over 20 metres and ended in mineralization. Nine of the thirteen holes bottomed in mineralization.
The values in the drillholes are below expectations as much higher gold grades were achieved in surface trenching and were expected in drill core. Supergene enrichment is the probable explanation of the large divergence of values in trenches and drillholes.
The best intersection on the Kelly Zone was in drillhole PK-06-3 that assayed 6.5 grams per tonne over 2 metres. Other holes have mineralized intervals of lower grade gold. No further work is planned on the Kelly Zone.
IP Anomaly and Other Areas
A historic Induced Polarization survey outlined a large area to the south west and down dip of drillholes TZ-06-12 and -13 that remains untested by drilling. In addition, there are other areas that require more work, especially to the northwest and west of the core of the Santa Rosa intrusive complex that require mapping and prospecting.
The Company has reviewed data from other Argentine gold and copper prospects and expects to be positioned soon to announce a second property agreement.
Assaying was conducted by ACME Analytical of Vancouver BC. Field work, data compilation and reporting were under the direction of Dave Kuran, P. Geo., who is the qualified person for the Company.
Chief Executive Officer
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The Company has received the Geological and Drilling Summary on the Santa Rosa Property in north western Argentina. A total of 18 NQ core holes were drilled (1,447 metres). Five holes were completed on the Kelly zone and 13 on the Tom zone. The holes were located to test for the down dip gold mineralization that exists in surface trenches and outcrop.