Network Exploration Drills 36 Meters of 0.52% Copper
Vancouver,
British Columbia: Network Exploration Ltd. (the "Company") (TSX.V: NET) is
pleased to announce the results of the first four drill holes on the Caldera
Project located in Chile.
Highlights
of the first four holes include:
• CA08-RC3 intersected 72.0 meters of 0.20% Cu, 0.124 g/t Au and 0.012%
Mo including 35.0 meters averaging 0.26% Cu, 0.100 g/t Au and 0.011% Mo and
an additional 24.0 meters averaging 0.19% Cu, 0.206 g/t Au and 0.019% Mo;
• CA08-RC4 intersected 171.0 meters (the entire hole) averaging 0.23%
Cu, 0.070 g/t Au and 0.006% Mo including 36.0 meters averaging 0.52% Cu, 0.120
g/t Au and 0.007% Mo.
"These
are exciting results for the first holes of our program as they are consistent
with our theory of Caldera being a copper-gold-molybdenum porphyry system."
says Director of International Operations Mr. Richard Schnoor. "Chilean
geology hosts some of the world's largest copper porphyry systems with unsurprisingly,
some of the world's largest open pit copper mines."
This
first phase drill program at Caldera has now been completed and includes a
total of 1344 meters in nine reverse circulation drill holes. Holes were originally
targeted to depths of 250 meters but as rock conditions tested the depth capabilities
of the drill (which was not capable of drilling angled holes) the company
decided to drill three more holes than originally planned to complete the
contracted footage.
CA08-RC1
was targeted to test a moderate geochemical and induced polarization anomaly
on the west side of the property. Moderately to strongly altered granodiorite
with several zones containing weak pyrite and minor chalcopyrite were intersected.
There are several thin zones with copper values between 0.1 and 0.2% copper
but none of substantial thickness.
CA08-RC2
was drilled 350 meters southeast of CA08-RC1 on the same geochemical and geophysical
anomaly and intersected similar rocks with one section of more concentrated
values.
CA08-RC3
and CA08-RC4 are located in an area of relatively low chargeability, moderately
strong copper geochemical results and good alteration north and west of the
stronger induced polarization anomaly. Both intersected significant sections
of copper and gold mineralization and hole CA08-RC3 returned the most significant
molybdenum results from the property to date. Hole CA08-RC4 returned continuous
values of copper greater than 0.1% from surface to the end of the hole at
171.0 meters with a 36 meter section that assayed 0.52% copper.
The
first four holes for which assays have been received were all drilled in the
northwest corner of the property. Of the remaining five holes, three tested
the eastern portion of the 3.5 kilometer long strong induced polarization
anomaly and reportedly intersected thick sections of high concentrations of
sulphides and two tested surface geochemical anomalies in highly altered rocks
in the northwest parts of the property.
Table
1. Caldera Property Drill Results:
Hole
No |
From
(m) |
To
(m) |
Thickness
(m) |
Cu
(%) |
Au
(ppm) |
Mo
(%) |
CA08-RC1 |
NSV* |
|
|
|
|
|
|
|
|
|
|
|
|
CA08-RC2 |
24.0 |
42.0 |
18.0 |
0.26 |
0.134 |
0.002 |
incl |
36.0 |
42.0 |
6.0 |
0.46 |
0.307 |
0.004 |
|
|
|
|
|
|
|
CA08-RC3 |
15.0 |
87.0 |
72.0 |
0.20 |
0.124 |
0.012 |
incl |
15.0 |
48.0 |
35.0 |
0.26 |
0.100 |
0.011 |
and |
63.0 |
87.0 |
24.0 |
0.19 |
0.206 |
0.019 |
incl |
84.0 |
87.0 |
3.0 |
0.20 |
1.075 |
0.046 |
|
|
|
|
|
|
|
CA08-RC4 |
0.00 |
171.0 |
171.0 |
0.23 |
0.070 |
0.006 |
incl |
18.0 |
54.0 |
36.0 |
0.52 |
0.120 |
0.007 |
*- No Significant
Values
Samples
were taken at three meter intervals throughout all holes, bagged 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 41 element
ICP package.
For
a map showing the distribution of drill holes at Caldera, please visit the
following link: www.networkexploration.com/caldera/drillholes.pdf
The
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 866 637-5138).
Network Exploration
Ltd.
www.networkexploration.com
(604) 638-7363
We seek Safe
Harbor.
