VANCOUVER, May 13 /CNW/ - Network Exploration Ltd. (the "Company")
(TSX.V: NET) is pleased to announce Phase 1 of its 2009 gold exploration
program. Specifically, Network will commence an extensive underground drifting
program below the gold-bearing La Blanca mine at the Company's Caldera
Property in Northern Chile.
Surrounded by over 150 gold workings, and three abandoned gold mines, the
LaBlanca mine - the largest of the historical mines on the property - is
located in the southwest corner of the property in an elliptical stockwork
several hundred meters southwest of the exposed contact of the intrusive
complex which hosts the copper mineralization recently drilled by Network. The
LaBlanca mine is a series of underground workings totaling approximately 200
meters beneath the surface of a 100 meter x 300 meter silica breccia stockwork
in a quartz-sericite altered andesite. The LaBlanca mine is located on the
east side of Caldera Mountain and is a strike extension of the northeast
trending structure that hosts the gold placer workings located centrally to
the intrusive complex.
An eight man team, headed by senior geologist Marco Fernandez-Concha,
will crosscut 1.8m x 1.4m drifts in an area commencing approximately 30m
beneath the La Blanca mine into the 100m x 300m silica breccia in which the
gold-bearing La Blanca mine is located. This first Phase program will follow
the gold vein structures approximately 200m into Cerro Caldera (Caldera
Mountain). Network's management will evaluate the team's progress and results
during the entire 60-90 day Phase 1 program in order to determine the most
prudent course of action for subsequent exploration programs.
Mr. Richard Schnoor, Director of International Operations states: "We've
always been excited by the gold targets at Caldera and this is our first real
opportunity to systematically evaluate this system."
"This gold area has had historical gold mining by local artesian miners",
notes Senior Geologist Marco Fernandez-Concha. "We are optimistic that this
Phase 1 program will help us define a prudent course of action for exploring
the Caldera property."
Results will be released when available.
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
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: Network Exploration Ltd., (604) 638-7363,