Business
Network receives Ministry of Mines approval for Pistala acquisition; Phase II exploration update at Caldera
Network receives Ministry of Mines approval for Pistala acquisition; Phase II exploration update at Caldera.
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"\n\n\n\nVANCOUVER, April 10 /CNW/ - Network Exploration Ltd. (the "Company")\n(TSX.V: NET.H) reports that pursuant to its news release issued March 7, 2007\n- announcing the Company's acquisition of the 1600 Hectare Pistala property in\nSouthern Peru - the Company has received final government approval for the\nstaking of the claims from Peru's Ministry of Mines office in Lima, Peru.\n\n\nThe Company will commence preparations to create an exploration program\nat the Pistala property designed to outline the surface geology of the\nproperty through a series of geological mapping and surface sampling\ncampaigns. Senior Geologist Mr. Marco Fernandez-Concha will be preparing the\ninitial exploration programs for the Pistala property and will consult with\nneighboring claimholders - Colorado based Apex Silver Mines Ltd. and\nAustralian based Western Metals - regarding possible collaboration of efforts\nfor the initial exploration programs.\n\n\nThe Pistala property is located east of the major NW-SE trending\nIncapquio fault system in Southern Peru in a geological belt having the same\ncharacteristics as other world class copper deposits. Approximately 150Km\nNorth West of Pistala and within the same cretaceous group of rocks as\nPistala, the Topuepala, Cuajone and Cerro Verde/Santa Rosa mines are operating\ncopper mines extracting grades ranging from .3% to .74% Cu.\n\n\nCALDERA UPDATE\n\n\nAt the Company's 2700 Hectare Caldera property in Chile, Phase II\nexploration is currently being completed. The extensive pre-drilling\nexploration program led by senior geologist Mr. Marco Fernandez-Concha -\nprevious general manager of Teck Peru S.A. - has been designed to further\nanalyze the copper and gold anomalies on the property and to pinpoint target\nlocations for the Company's upcoming drill locations.\n\n\nApproximately 1500 meters of excavator trenches have been completed, 12\nlines have been strung, and approximately 120 test pits have been prepared\nfrom which over 450 channel and chip samples are being removed. Mr. Marco\nFernandez-Concha will be transporting over 3500 Kilos of samples to the ALS\nChemex Lab in La Serena for detailed mineral analysis.\n\n\nIn preparation for the Company's upcoming drill program,\nMr. Fernandez-Concha has used the excavator to prepare several drill pads for\nknown drill target locations....