Here's perhaps why it's stronger
Black Hawk Mining Announces Drilling Results From The Manantial
Espejo Project In Argentina
Company: BLACK HAWK MINING INC
Symbol: BHK/TSE
Toronto, Ontario
BLACK HAWK MINING INC. (TSE-BHK) is pleased to report the
following drilling results supplied by Silver Standard Resources
Inc. Silver Standard has the option to acquire 50% of Black
Hawk's interest in the Manantial Espejo project. The exploration
program is conducted and the results are provided by Silver
Standard.
Today, Silver Standard reported partial results from a successful
drilling program at the Manantial Espejo silver-gold project
located in southern Argentina. The program, which consisted of
both diamond and reverse circulation drilling, was successful in
identifying new veins with resource potential as well as
expanding known mineralization in previously drilled vein
structures.
Reverse circulation drilling totaled 1,982 metres in 27 holes.
These shallow holes tested seven new veins that had not
previously been drilled with the objective of establishing
priorities for further drilling. The best results were from Veta
Mesa, located about three kilometres east of Veta Maria which
hosts 70% of drill-defined mineralization. Hole T-141 at Veta
Mesa intersected at least six well-mineralized veins. The best
intersection was 0.07 grams per tonne of gold and 1,024.8 grams
per tonne of silver over 1.0 metre. Other values of note are
listed on the table that follows.
Seven diamond drill holes tested Veta Melissa, located about 500
metres east of Veta Maria, over a 500-metre strike length. All
but one intersected significant values and are notable for
elevated gold assays. The best hole was T-167 which intersected
3.0 grams per tonne of gold and 699.0 grams per tonne of silver
over 16.5 metres. Included was 2.3 metres of core that assayed
16.27 grams per tonne of gold and 2,866.7 grams per tonne of
silver. T-168 was drilled at a steeper angle in the same location
as T-167 and shows multiple vein intersections that are well
mineralized over narrower intervals compared to T-167. Further
drilling of Veta Melissa will be necessary to determine
structural controls for silver and gold mineralization and to
assess its economic importance. Diamond drilling in late 2000
totaled 2,767 metres in 27 holes and further results will be
reported in a follow-up release.
The samples were prepared by Bondar-Clegg Co. Ltd. at its office
in Mendoza, Argentina and sent for assay at its laboratory in
Santiago, Chile. The results are from using industry standard
fire assaying with an atomic absorption finish and samples
showing values greater than the upper detection limit were
reassayed with a gravimetric finish.
Black Hawk owns 80% of the Manantial Espejo project. The
remaining 20% interest is held by a subsidiary of Barrick Gold
Corporation. Silver Standard will acquire its project interest
through cash payments of US$1.54 million (paid) to Black Hawk and
exploration expenditures of US$4.5 million by December 31, 2001,
extendable to 2002 under certain conditions.
BLACK HAWK MINING INC. is an international mining and exploration
company that operates the El Limon Mine in Nicaragua, and holds
prospective gold/silver exploration properties in Nicaragua,
Canada, Argentina and the United States. Black Hawk is listed on
the Toronto Stock Exchange under the symbol BHK. |
