Network Exploration Ltd. — NETYF
Stock Guru continues its discussion with Richard Schnoor, Director of International Operations for Network Exploration, Ltd.
“What we are after is copper, but we know there will be some gold. The copper target is centered in a depressed area in the form of an amphitheater two km wide. In large part a body outcrops in this area. Above and surrounding this outcrop occurs volcanic-sedimentary rocks which contain evidence of metasomatism. We have the results of the Noranda drilling and sampling.”
“The central zone of the intrusive outcrop contains the characteristics of a porphyry copper with quartz-sericite alteration and stockwork development containing tiny quartz vienlets with hematite and variable quantities of tourmaline. Through studies of satellite images regional structures at N450E, N300W and a possible EW system (0700 by Noranda) have been defined which give rise to a probable structural “knot” in the area centered on the valley to the east of Cerro Caldera. The geochemical study done by Noranda (principally soils) show high values in gold and copper with a good correlation between the two, defining an anomaly which coincides, in an enlarged form, with the center of the geophysical anomaly.”
Noranda drilled eight diamond holes to recognize different characteristics of the porphyry. The deepest hole was 150 m. The holes permitted Noranda to define the existence of a nucleus zone of potassic alteration, secondary biotite, with the development of various types of veinlets, characteristic of a porphyry system. Sections of low grade copper were intersected averaging less than 0.2% Cu, punctuated by grades higher than average. This mineralization corresponds to copper oxides noted at surface, films of chalcosite and veinlets of chalcopyrite, accompanied with pyrite, disseminated and in veinlets.
“Since to drill you want a concentration of more than .5 percent of copper samples we are optimistic because we found samples as high as 1.67 percent.”
“Our agreement will be that over the next four years we will pay for the drilling and make maintenance payments on the property to acquire our fifty percent interest.”
Richard Schnoor will return to Chile in two weeks to enter into the contract currently support by the Memorandum of Understanding regarding this property and NETY’s interest.
Stay tuned: Richard Schnoor gives Stock Guru an insight into the professionals that believe in this program and gives details on the partners.
Stock Guru: NETYF
Source: Richard Schnoor NETYF
Network Exploration Ltd. — NETYF
505 Burrard St.
Suite 1880
Vancouver, BC V7X 1M6
Phone: 604-681-3864
Fax: 604-681-1265
About Network Exploration: 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 604 495-6302 or visit our website at www.networkexploration.com
Forward Looking Statements: 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.
Disclosure: StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com.
Disclosure: Pentony Enterprises LLC was compensated 185,000 shares from a non controlling third party for profile coverage. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.