Another Mine at less than 2g/tNEWS RELEASE #00-11 EEL-CDNX
SHARES OUTSTANDING: 44,117,763
Bulk Sampling Grade Improves
Eaglecrest Explorations Ltd. reported today that new results from surface
bulk sampling at the company's San Simon gold project in Bolivia has resulted
in an increase of average grade of material processed to 1.92 grams per tonne
gold from 1.69g/t.
The company said five additional two-tonne samples yielded results from
0.74g/t to 8.4g/t. A total of 78 tonnes of altered, gold mineralized
quartzite has been processed and analyzed to date from outcroppings within
the Paititi pit area. Grade is calculated on the basis of measurement of gold
collected at an on-site gravity mill as well as fire assay of head and
tailing samples. Coarse gold accounted for 57.1% to 84.1% of the five,
two-tonne samples reported today. The surface bulk sampling program has been
concentrated on an 130 metre north-south corridor across the centre of
artisanal workings and has been extended 500 metres in an east-west direction.
Eaglecrest said that while bulk sampling and trenching is continuing, the
next major stage of project development will focus on underground bulk
sampling. Early-stage planning is focussed on a 600 metre decline designed to
intersect a high-grade zone discovered during the 1999 drilling campaign.
Scissor holes on one section at a depth of 60-70 metres below surface,
returned values of 16.26 g/t gold over 4.63 metres and 6.55 g/t gold over 12
metres, respectively. Part of the year 2000 drill campaign was designed to
add lateral continuity to the above scissored intercept, known as the 12/17
Zone. Four holes drilled at 25 metre intervals, both to the east and west of
the 12/17 Zone, all intersected the same zone seen in the 12/17 drill
intercepts. Assays are awaited from these four holes. Various consultants
have been retained to assist in planning the underground test project.
Eaglecrest president Gary Cope said the new bulk sample results were
particularly encouraging as three samples that returned values of 3.4g/t,
5.9g/t and 8.4g/t were taken from the edge of the Paititi pit earlier
exploited by artisanal miners. The higher grades reported in these samples
give further credence to anecdotal reports of high grade recoveries by
artisanal miners, he said.
"An ongoing trenching program is confirming continuity of favourable geology
to the east and west of the pit. Currently, trenches have been completed over
1.9 km of strike length and detailed sampling is underway," Cope added.
The company also reported today that the Cominco Laboratory in Vancouver now
has received all but one hole of the recently completed 11-hole diamond drill
program. Results will be released when all detailed fire assay and metallic
screen analysis has been completed.
On behalf of the Board of Directors,
"Gary Cope"
Gary Cope
President
For further information contact Investor Relations at (604) 684-9384, toll
free 1-888-456-1112.