VANCOUVER, June 3 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to announce that it has completed a 60 metre channel sampling program within La Blanca mine at the Company's Caldera property in northern Chile. Results of the program revealed 5.82 g/t of gold over 12.0 meters.
Four adits were completed by artisanal miners in the past. Of these, the uppermost adit (No. 4) was the most extensive. Results of sampling of the adit walls over a length of 36 metres, which included a 4 metre section that was not sampled, show a 12.0 metre sample assaying 5.82 g/t of gold and a further 20.0 metre sample assaying 2.21 g/t. Results from the mine samples taken in two of the other adits were also highly anomalous, with the highest assay value being 1.765 g/t of gold over 2.0 m.
The highest value for gold was 9.24 g/t over 2 metres. Silver and copper values were also found to be anomalous, with maximum values reaching 20.9 g/t over 20.0 meters and 3,000 ppm over 2.0 meters, respectively.
"Individual results from these continuous channels show uniformity in the mineralization, especially in the area's upper-most level," says Marco Fernandez-Concha, the Company's senior geologist. Moving forward, Network Exploration plans to conduct a second phase of exploration, implementing vertical drilling over the northeastern part of the system.
La Blanca houses a 300m x 100m silica breccia, consisting of stockwork with quartz-sericite alteration. It is located on the western portion of a porphyry copper-gold system at the Company's 24 sq. km Caldera property.
Samples were taken at two metre intervals throughout the channels, placed in tamper proof bags and delivered by company personnel to the ALS Chemex laboratory in La Serena, Chile where they were assayed utilizing the Au plus 36 element ICP package.
This field program is managed by Senor Marco Fernandez-Concha, an experienced South American geologist. This press release has been approved by Ken Thorsen, a Director of the Company and the Company's Qualified Person.
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. For additional information, contact the company at 604-638-7363 (toll-free 1-866-637-5138) or visit www.networkexploration.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel"
President
Forward-Looking Statements: This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements.
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THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. 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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