Stock Guru spoke with Richard Schnoor, Director of International Operations for Network Exploration, Ltd.� � Mr. Schnoor was excited to discuss the Chilean mines, their history, their locations, and the existing infrastructure to support the mines.
“These mines have pre-existing trenching, sampling, and fly overs done by Noranda. This is not just a start up. What we have is fifty percent of an extremely good property. The weather allows you to work year round. There are local and experienced miners available in the area. Mining in this area pre-dates the Incas. These are established mining communities and the Chilean government is mining conscious which makes mining permits easy to obtain.”
“As you drive up into the Andes Mountains you see one flat bed truck after another carrying copper to Iquique, Chile, which is a a port where the copper is loaded for delivery to Asia. China is the largest consumer of copper and their expanding economy is driving up the price copper. I believe the most recent reports indicate there is only a two week supply of copper in the world. Because this is an historical mining community the mining infrastructure is in place including the highways, the ore processing mills, and the trucking industry is advanced. Mining is the number one Chilean industry and the citizens are benefiting from this industry.”
Mr. Schnoor describes the terrain as being approximately 2500 meters above sea level. He explained the high hydrothermal reaction in Andes Mountains caused an amphitheater bowl shaped indention with a few scrub plants being mostly dessert terrain with hills on the property where they gold mines are located. He noted this bowl area has a colorization from the copper mineral reaction. Historically major copper discoveries were made by airplane by searching for this particular colorizaition. There is also a large outcrop with characteristics of copper deposits. Copper leaches down 80 to 100 meters below the surface and creates a copper concentration which creates this colorization.
Mr. Schnoor explained: “You want a concentration of more than .5 percent of copper samples and we found samples as high as 1.67 percent. Gold is a welcome byproduct and some small amounts of gold have been found as well. Samples that were high in gold had some copper and samples high in copper had some gold. There is extensive mineralizations all over the property. In Mina Blanca, one of the abandoned mines on the property, there were two to eighteen grams per ton of gold.
“We are optimistic through a six month drill program we can establish this will be a very profitable mine. We are committed to pay for the exploration over the next four years 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.
Stock Guru: NETYF
Source: Richard Schnoor NETYF
Network Exploration Ltd. — NETYF
505 Burrard St.
Suite 1880
Vancouver, BC V7X 1M6
CAN
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.
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