Network Phase I Drill Results
Vancouver,
British Columbia: Network Exploration Ltd. (the "Company") (TSX.V: NET)
has now received assays for the last five holes of the nine hole (1344
meter) drill program at the Caldera project in Chile. Nine holes were
drilled to test portions of a large intrusive with structural,
geochemical or geophysical anomalies. For the most part, alteration and
sulphide (primarily pyrite) content indicates that a large porphyry
system exists and further drilling is required to prove this. It is
believed that the recent drill results are from above the copper-gold
enriched part of the system.
"The
anomalous copper and molybdenum values received in Network's recent drilling
campaign demonstrate the presence of a large porphyry system," states
Senior Geologist Marco Fernandez-Concha. "Porphyry-related elements such
as gold and silver are sporadic but widespread, with moderate anomalous values
up to 1.78 g/t gold over 3 meters and 6.2 g/t silver over 3 meters."
Drill
holes CA08-RC5, 8, and 9 intersected highly anomalous copper. Hole
CA08-RC5 is anomalous in copper throughout with contents reaching 0.18%
copper. Hole CA08-RC8 intersected 42 meters averaging 0.13% copper and
0.03 g/t gold and hole CA08-RC9 intersected 69 meters averaging 0.18%
copper and 0.059 g/t gold. This is in addition to the earlier reported
CA08-RC4 which intersected 171 meters averaging 0.23% copper and 0.07
g/t gold (including 36 meters averaging 0.52% copper and 0.12 g/t
gold), CA08-RC3 intersecting 72 meters averaging 0.20% copper and 0.124
g/t gold, and CA08-RC2 which intersected 18 meters of 0.25% copper and
0.13 g/t gold (including 6 meters intersecting 0.46% copper and 0.31
g/t gold).
Classic
porphyry systems are characterized by many traits including structural
control, outer zones of base and precious metal deposition, a complex
intrusive system with porphyritic monzonite at the center, zoned
alteration, presence of silica rich breccia pipes, intrusion of late
dykes of varying composition, the presence of stockwork, the presence
of chalcopyrite in the hypogene part of the profile and strong magnetic
susceptibility at the core. As observed from surface results and from
drill cuttings from this first phase drill program, Caldera exhibits
all of these features.
To
date Network has tested only a small portion (approximately 0.4 square
kilometers) of the total exposed area of the five square kilometer
intrusive and because of the limited capabilities of the drill, was
only able to penetrate to depths less than 200 meters. More than 90% of
the area is deemed to be intrusive, and a potential host for
copper-gold mineralization remains to be tested. Additionally, the
northeast striking buried fault zone which has been the target of
artesianal placer miners, remains to be tested at depths.
The
Company is encouraged by the potential of the property which has not been
fully realized. Network's geologists are currently studying the data from
past programs prior to submitting the design for a second phase drill program.
Subsequent work programs will be proposed on the results of the current study
which will be completed over the next several weeks.
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 drill hole distribution, 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.
