Business
El Nino Acquires First Copper Project in the Democratic Republic of Congo (DRC)
El Nino Acquires First Copper Project in the Democratic Republic of Congo (DRC).
About this update from Metalquest Mining Inc
[{"type":"text","content":"\n\n\n\n-------------------------------------------------------------------------\n- El Nino has acquired an initial 70 percent interest, over\n 350 square kilometers.\n- Located in the world renowned DRC Copperbelt.\n- El Nino's first project is adjacent to Anvil Mining (AVM:TSX), Tiger\n Resources (TGX:ASX), BHP Billiton and First Quantum Minerals\n (FQM:TSX).\n- El Nino's President and management have extensive experience in the\n DRC.\n- Exploration program in progress.\n- El Nino is aggressively acquiring base metal projects throughout the\n DRC.\n- El Nino is the Project Operator\n- El Nino's market cap is approx. $11 million, working capital\n $3.2 million\n-------------------------------------------------------------------------\n\n\nVANCOUVER, May 29 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V: ELN;\nOTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce that it has acquired a 70\npercent interest in a Joint Venture Agreement with GCP Group Ltd, a private\nCongolese company. El Nino holds it's initial 70 percent interest in Research\nPermits No. 5214, 5215, 5216 and 5217. These permits were granted by the\nCadastre Miner of the DRC and covering 352 square kilometers in one of the\nmost prospective exploration areas in the DRC-Zambian Copperbelt. The permits\nare located between Lubumbashi and Likasi and offer easy access for\nexploration which offers excellent infrastructure.\n\n\nHarry Barr, Chairman of El Nino stated: "The acquisition of our first\nbase metals project in the DRC allows our company to fulfill our mandate of\nexploring and developing base metal projects on an international scale. Our\nobjective, simply stated, is to control one of the leading base metal and\nmineral exploration portfolios in the DRC."\n\n\nOn May 10th, 2006 Jean-Luc Roy was appointed President of El Nino and\nbrought his extensive expertise in exploration and development in Africa to\nour company. Mr. Roy spent 19 years of his professional career working and\nliving in Africa. In Africa Mr. Roy worked for Ashanti Gold and International\nGold Resources. Before joining El Nino, Mr. Roy played an integral part in the\ndevelopment of First Quantum Minerals (FQM) in the DRC as Managing Director\nfor five years. While in Africa Mr. Roy spearheaded teams that managed\nmulti-million yearly exploration budgets, helped plac...