VANCOUVER, Nov. 25 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to outline plans for a second phase drill program at its Caldera project in Chile. Positive results from the Company's recent exploration programs (see press release of November 24, 2009) in the area of La Blanca gold prospect, the previously-discussed trench 15 area (see press release of May 30, 2007), and the copper porphyry targets demonstrate the presence of a gold and copper bearing system which warrants a significant Phase II drill program.
A 3000-metre diamond drill program designed to bore a series of approximately 15 holes distributed across the property from the La Blanca area to trench 15 will focus on the areas which have the highest potential for gold mineralization and copper concentration. Specifically, the drill program will cover the following areas:
- La Blanca prospect area: Recent exploration programs in this area
have revealed three zones of gold mineralization which have not been
fully delineated for depth or along strike.
- Trench 15 area: Recent trenching and surface work in this area has
revealed two - 35 metre sections of 0.43 g/t Au and 0.42 g/t Au
respectively. This area is approximately 650 metres from the
Andacollo mine area (another old gold mine) and approximately 2.9 km
northeast from the La Blanca mine area. Due to the slope of the area,
access roads will provide two key functions: the cut will provide
approximately 500 metres of exposed geology from which to provide a
geological assessment, and access to the drill pads themselves.
- Copper porphyry target: The heart of the Caldera property, its main
copper porphyry target, will be tested at greater depth
(approximately 400 metres) focusing on areas with host rock similar
to those which have revealed the highest copper concentrations from
previous trenching and drilling campaigns.
"Our phase II drill campaign will continue to develop the gold and copper targets at the Caldera project," stated senior geologist Marco Fernandez-Concha. "In the meantime, we look forward to mobilizing a geological team back to the property to bulk sample portions of the La Blanca adits," added Fernandez-Concha.
The Phase II program outlined above may be modified based on results and/or unexpected ground conditions, as appropriate.
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 website: www.networkexploration.com.
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
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 Commission.
SOURCE Network Exploration Ltd.
For further information: For further information: Network Exploration Ltd., (604) 638-7363, toll-free 1-866-637-5138