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Network Exploration Ltd. - Preliminary trench and pit results confirm high surface copper and clarify gold zone at Caldera
Network Exploration Ltd. - Preliminary trench and pit results confirm high surface copper and clarify gold zone at Caldera.
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[{"type":"text","content":"\n\n\n\nVANCOUVER, May 30 /CNW/ - Network Exploration Ltd. (the "Company")\n(TSX.V: NET.H) is pleased to announce encouraging preliminary results from the\nphase II exploration program at its Caldera gold and copper project in Chile.\nInitial sample results from trench and test pits indicate high surface copper\nvalues of up to .48% copper and the discovery of two 35 meter trench sections\naveraging .43 g/t gold clarify a gold zone on the property.\n\n\nThe Company's recent trenching program was designed to analyze the\nnear-surface presence of copper and gold at the 2700 hectare Caldera property\nlocated in the mineral-rich Huasco Province of Chile. After careful\nconsideration, senior geologist Mr. Marco Fernandez-Concha determined\nlocations for 12 exploration lines and 11 excavator trenches across both the\ncopper and gold targets on the property.\n\n\nPreliminary assay results over trench N15 - a 105 meter trench at the\nNorth East edge of the copper zone - have shown two 35 meter sections\naveraging 0.43g/t gold. These findings clarify the presence of a gold zone at\nCaldera previously suspected due to anomalous surface gold samples found on\nthe property of up to 6.6 g/t (reported Aug '06). The newly discovered gold\nzone will require further exploration.\n\n\nCopper target results from test lines and trenches indicate widespread\nnear-surface copper values averaging up to .48% copper over 10 meter lengths.\nPreliminary trench results in the copper zone show 150 meters of 1921ppm, 180\nmeters of 1628ppm copper, and 170 meters of 1311ppm copper. The highest values\nreceived from 10 meter trench and pit samples were 4770ppm, 4440ppm, and\n4300ppm copper.\n\n\nThese values are encouraging as the potential for significant subsurface\nmineralization due to weathering and leaching of surface rock is indicated by\nassay values over 100ppm copper and 100ppb gold at surface. These surface\nfactors can result in an accumulation of mineralization at lower levels.\nExhibiting this theory, the Quebrada Blanca mine in Chile has found a\nsubsurface supergene mineralization averaging 80 meters in thickness overlain\nfor the most part by a 100 meter thick, low-grade or waste leached cap, and\nunmineralized rock and gravels. As 29.4% of Caldera's 494 trench and test pit\nsamples returned copper values over 500ppm, this is an indi...