Business
Network Extends Picha Option Agreement; Announces Financings
VANCOUVER , June 25, 2013 /CNW/ - Network Exploration Ltd. (the " Company " or " Network...
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"\n\n\nVANCOUVER, June 25, 2013 /CNW/ - Network Exploration Ltd. (the \"Company\" or \"Network\") (TSX.V: NET) is pleased to announce that it has come to an agreement\n with its partner LARA Exploration Ltd. (\"LARA\") to extend the initial period of its option agreement for the Picha\n Copper-Silver Project from June 6, 2013 to December 6, 2013.\n\n\nPicha Project\n\n\nThe 6,000 hectare Picha Copper-Silver Project is located within the\n Tertiary Volcanic Arc of Southern Peru, host to various epithermal\n gold-silver deposits and copper porphyry-skarn deposits. The Property\n is adjacent to the properties of Gold Fields Limited and Compañia de\n Minas Buenaventura S.A., that are host to the recent Chucapaca\n discovery with reported mineral resources of 7.5 million gold\n equivalent ounces.\n\n\nPicha is fully permitted by the General Mining Directorate of the\n Ministry of Energy and Mines of Peru for a diamond drill program for\n which Network has identified seven priority targets based on the\n available geochemical and geophysical data for the Picha project (see\n press release dated July 25, 2012). Five of the first series of targets\n are closely associated with significant IP anomalies (Numbers 1, 2, and\n 5, as interpreted by Pezzot) and two of the targets (Cobremani and\n Maricate) are geochemical targets with the highest copper (up to 12%\n from a chip sample) and silver (up to 77 g/t also from a chip sample)\n showings but no anomalous IP response.\n\n\nOption Agreement Extension\n\n\nThe Picha Option Agreement has been amended to move all obligations\n required for June 6, 2013 deadline to December 6, 2013 and all\n obligations initially required for December 6, 2013 to June 6, 2014. \n All other terms and conditions remain the same. See news release dated\n December 13, 2011 for more information.\n\n\nPresident and CEO of Network Exploration Ltd., Mr. Alexander Helmel\n stated: \"The Picha project perfectly models a drill-ready grass roots\n exploration project with very high potential and as such we are anxious\n to test the project with a drill bit.  Despite delays and less than\n perfect market conditions, we intend to deliver a completed drill\n program to our partners and shareholders.\"\n\n\nFinancing\n\n\nThe Company is proposing to complete a non-brokered private placement of\n up to 33,333,33...