LATIN AMERICA — Apac hits gold at Los Menucos

Junior explorer Apac Minerals (APC-V) has hit broad low-grade gold mineralization at the Los Menucos property in southern Argentina.

The company completed 45 reverse-circulation holes, totalling 4,000 metres, on three high-sulphidation prospects: El Puesto, Caltrauna and Cuya.

At El Puesto, 21 holes tested a 1,500-metre area where surface values averaged 1 gram gold per tonne. Eleven of the holes hit significant gold mineralization over a 750-by-500-metre area. The first two holes, which tested surface outcrops of vuggy silica on a prominent ridge, yielded the best results, including 34 metres averaging 0.96 gram gold per tonne and 36 metres averaging 1.3 grams, respectively. Within these intersections were higher-grade intervals, including 1.76 grams over 12 metres and 1.76 grams over 24 metres.

Anomalous gold values of less than 0.5 gram were intersected in four holes 450 metres east of the first hole. Stepout holes 0.5-1.75 km to the north, south and east of the first hole failed to intersect significant mineralization.

Five kilometers to the northeast, Apac tested the south Caltrauna prospect where surface values averaged 0.8 gram gold over a 2-by-0.5-km area. Eleven of the 18 holes intersected gold mineralization with grades ranging from 0.2 to 1.4 grams over intervals of 2-50 metres. Among the better intersections were 50 metres grading 1.4 grams gold in hole 9, and 28 metres grading 0.7 gram in hole 8. Within these intersections were higher-grade intervals, such as 2.44 grams over 12 metres and 1.2 grams over 6 metres.

Apac has yet to complete mapping and sampling of the Caltrauna prospect, which comprises 5 sq. km.

Farther northeast, at the Cuya prospect, six holes tested a 500-metre area in a zone of silicified breccia measuring 1.5 sq. km. All the holes encountered broad mineralization, including an interval of 98 metres grading 0.23 gram gold.

The company says the drill results confirm the presence of disseminated high-sulphidation gold mineralization in a previously unexplored area.

Apac, which is earning a 100% interest in the property from the private exploration syndicate Arminex, has 10.8 million fully diluted shares and $500,000 in working capital.