Esperanza to be explored in 1996

A major exploration program on the Esperanza gold property in Costa Rica will be carried out this year.

Lyon Lake Mines (ME) reports that the program will cover all four of its concessions, which total 80 sq. km.

Phase 1, to be completed by the end of May, will consist of geology and prospecting, stream sediment sampling and soil geochemistry. Targets have been identified on all four concessions, following the interpretation of the airborne magnetometer and radiometric survey completed in August 1995.

Phase 2 will consist of soil geochemistry and trenching over anomalies identified during the first phase. It will run from June through September, to be followed by drilling.

The program is being carried out by Costa Rican-based TC & A, whose president, Tim Coates, has been involved in the adjacent Cerro Crucitas project of Placer Dome (TSE) and is therefore familiar with the area’s geology.

Two of Lyon Lake’s concessions are on the western extension of the Cerro Crucitas deposit, which is known to contain at least 2.2 million oz. gold.

According to J.P. Lachance, Lyon Lake’s vice-president

of international operations: “Several good targets have been identified from our interpretation of the data received to date. We are confident there is a major gold deposit to be found, and we intend to find it.”