VANCOUVER, Aug. 19 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to announce a progress report on the underground exploration project at the Company's Caldera project in Chile.
The Company is currently carrying out underground exploration drifting in the historic La Blanca gold mine workings that occupy a portion of the Caldera property, which includes over 150 smaller gold workings and three abandoned gold mines.
The Company's plans are to complete 200 metres of exploration drifts, designed to test the gold content, strike continuity and thickness of vein structures hosting gold mineralization that lie within the approximately 100 metre by 300 metre silica breccia stockwork that is hosted in quartz-sericite altered andesite. To date, the drifting is 50% complete. Geologists at the site report that drifting has so far intersected alteration and favorable mineralogy for hosting gold mineralization. These include strongly argillized hydrothermal breccias, moderate to strong sericite alteration, disseminated hematite and local tourmaline breccias.
To date, 34 underground wall samples have been taken and submitted to ALS Chemex Laboratory in La Serena Chile where they will be analyzed by procedure Au-AA24 (50g fire assay and atomic absorption) and ME-ICP 41 (35 element ICP) methods. Results will be released when available.
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 866 637-5138) or visit the Company's website: 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.
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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