|December 20, 1996|
Assay Results From Centenario
|Energold Mining Ltd. announces assay results from the drilling program at the El Centenario epithermal gold deposit in the Dominican Republic. Starting in early October a total of 19 Gopher holes (HC-96-37 to 55) have been completed for 1,346.1 metres of drilling until December 13th when the drill was shut down for tune up and maintenance in preparation for drilling to recommence around January 10th, 1997. Drilling has advanced at a rate of 14 metres per 10 hour shift, including moves and days off at an average all in cost of US$ 75.00 per metre. A Winkie drill, which uses a small diameter core, completed 14 holes for a total of 349.1 metres from October 1st to December 17th, 1996. Assays have been received for 7 of the 19 Gopher holes, a further two which were previously reported in 1995 and 8 Winkie holes of a planned fifty drill holes.|
Gopher holes HC-96-37 to 43 inclusive were drilled on sections 350 to 425. Holes 37, 38 and 42 appear to confirm the limit of the mineralization to the South. Significantly, HC -96-43 suggests that the zone is open to the North and to depth on Section 375E where it had been previously believed that the zone was cut off by a fault. Holes HH-95-35,36 and HC-96-43 indicate a previously unrecognized NW striking structural control open to the NW, SE and to depth. Assays for the remaining holes (HC-96-44 to 55) are pending.
A total of 14 Winkie holes (HW-96-38 to HW-96-51 inclusive) were drilled on the periphery to define the limits to the West of the zone. The Winkie drilling despite poor recoveries suggests that the Zone is in fact partially open. Out of the assay results received to date for Holes HW-96-38 to 45, Hole HW-96-38 included 1 metre of 33.98 gm/T Au; Hole HW-96-41 averaged 1.52 gm/T Au from 5 to 15 metres . The balance of the holes experienced low recoveries and nominal values throughout.
Reconnaissance exploration of several concessions in which the Company has optional rights to acquire an interest has identified promising targets in the Los Ranchos Formation, host to the 32 million ounce Pueblo Viejo deposit. These targets will be followed up pending approval by the government of the exploration concessions which are all under application.
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