VANCOUVER, Jan. 17 /CNW/ - Network Exploration Ltd. (the "Company")
(TSX.V: NET) is pleased to announce that Caldera's 1500 meter reverse
circulation drill program has commenced as scheduled.
Results from the Company's 2007 trenching and sampling program identified
a number of gold and copper anomalies on the property. From these results and
historical IP data, six locations have been chosen to test subsurface
mineralization to depths of up to 250 meters. The drill program is expected to
run until approximately mid-February.
The Caldera project is located in the mineral rich Huasco province, in
the Atacama Region (region III) of Chile. The property is approximately 150km
NE of the city of La Serena and consists of 17 mineral concessions covering
2400 hectares at elevations between 2500 and 2800 meters. Highlights from the
Company's recent trench and test pit program indicate widespread near-surface
copper averaging up to .48% copper over 10 meter lengths with 150 meters of
1921ppm copper, 180 meters of 1628ppm copper, 170 meters of 1311ppm copper and
two 35 meter sections averaging 0.43g/t gold.
The first phase of exploration led by Senior Geologist Marco
Fernandez-Concha has been completed and 96 samples have been submitted to ALS
Chemex Laboratories in Lima, Peru for analysis. This initial phase of
exploration was designed to provide a general understanding of the geological
features of the Company's 1600 hectare project in southern Peru. Results from
this program will be used for subsequent exploration programs.
Network Exploration Ltd. is a mineral exploration Company committed to
building shareholder value through the acquisition of base and precious metal
properties in North and South America. For additional information, contact the
company at 604 638-7363 (toll free 866 637-5138) or visit the Company's
ON BEHALF OF THE BOARD OF DIRECTORS
Forward looking Statements. This news release has been prepared by
management. This document contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
achievements implied by these forward looking statements.
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE. This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities & Exchange
For further information:
For further information: Cristina Bittante, Corporate Communications,