VANCOUVER, Jan. 22 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET.H) (US: NETYF.PK) reports average assay values of .28 % copper over 40 meters and .35 g/t gold over 30 meters from previous Noranda trench-work while testing and refining Caldera's geological compilation.
Network's senior geologist, Mr. Marco Fernandez-Concha, recently wrapped up a short exploration program at the Caldera property where he led a Chilean exploration team through a program designed to help pinpoint future drill targets and re-evaluate the geological model of the property. This program included the re-sampling of select sections of Noranda's remaining trench locations and re-logging, splitting and assaying the drill cores which remain from Noranda's 1994-1995 exploration program.
Of the 9 drill holes completed by Noranda in 1995, six drill cores have been located, split, and re-assayed. The assay values from drill hole No. CA-95-2 which was drilled to a depth of 70.5 meters at a 45 degree angle contained an average of .24 % copper over the final 18 meters of the core leaving the mineralization open to depth. This hole terminates at a vertical depth of approximately 50m.
"The .24 % Copper revealed in the final 18m of drill core No. CA-95-2 is encouraging as it indicates that mineralization exists to a deeper level," adds Mr. Richard Schnoor, Director of International Operations. "Noranda only touched the surface of the mineralization and we intend to discover what lies beneath it."
Additionally, Mr. Fernandez-Concha sampled from select locations within the remaining Noranda trench-work where he found in trench 2, .35 g/t gold (Au) and .23 % copper (Cu) over a length of 30m and from trench 6, .21 g/t gold (Au) and .28 % copper (Cu) over a distance of 40m. The Noranda trenches are spaced at approximately 100 to 300 meter intervals and sampling has also revealed an erratic presence of silver (up to 13.3 g/t) and Molybdenum (up to 107 g/t).
The rock samples were transported and delivered to ALS Chemex in Chile by Mr. Marco Fernandez-Concha where they were analyzed using regular ICP techniques. Professional Engineer Mr. Peter Folk is the qualified individual responsible for the geological content of this news release.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel"
President
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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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