Peruvian Gold tests Encanto prospect

Junior Peruvian Gold (PVO-V) is awaiting assay results from nine diamond drill holes on the Encanto gold porphyry prospect in northeastern Ecuador.

To date, the program has spanned 921.8 metres, having intersected 10-to-30-metre-thick intervals of sericitized porphyry containing quartz veins, mineralized locally with pyrite and lesser amounts of chalcopyrite and galena.

The intersections are being split on a 1-metre basis and then shipped to Quito, Ecuador, for preparation prior to assaying in Vancouver.

A total of 26 holes, comprising a minimum 2,000 metres, are planned from seven sites. The program is aimed at exploring an area of the porphyry where trenching returned high-grade gold numbers from a mineralized zone extending for a minimum of 870 metres along strike and 500 metres vertically.

Trenching results were highlighted by: 52.2 metres averaging 5.4 grams gold and 9.7 grams silver per tonne, including 17.7 metres of 10.4 grams gold and 21.4 grams silver in trench 1; 16.3 metres averaging 11.4 grams gold and 10.8 grams silver in trench 4A; and 23.6 metres averaging 21 grams gold and 29.4 grams silver in trench 7.

An adit, the length of which thus far exceeds 20 metres, is being driven in an area below trench 2 to provide information on underground continuity.

Trench 2 returned 15 metres averaging 6 grams gold and 14.1 grams silver, including 3.4 metres of 14.4 grams gold and 23.8 grams silver.

The adit is initially being developed parallel to the mineralized zone so that a series of crosscuts can be completed across the zone at 25-metre intervals. The first 6 metres of the adit have averaged 2.34 grams gold and 2.8 grams silver.

The Encanto prospect lies within the Bonita concessions, which cover 20,326 ha of leases along a 25-km-long target zone. Peruvian Gold can earn a 60% interest in these concessions.

Stream sediment sampling along the western portion of the concessions is in progress. Of 37 samples recently analyzed, 13 returned anomalous values of greater than 0.1 gram gold, including three that ran greater than 1 gram.

Follow-up sampling and prospecting of the anomalous areas are planned.