Britannica Resources Corp.: Acquisition Furtherance.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Britannica Resources Corp. ("the Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BRR BRR Badan Rehabilitasi dan Rekonstruksi (Indonesian, Rehabilitation and Reconstruction Agency, Indonesia) BRR Bit Rate Reduction BRR Big Red Racing (game) )(PINK SHEETS:BRRF BRRF Baton Rouge Refinery ) is pleased to announce further information on its proposed acquisition of the Minanca-Machala producing gold project, located within the Portovelo-Zaruma mining district of Oro province Oro Province, formerly (and officially still) Northern Province, is a coastal province of Papua New Guinea. The provincial capital is Popondetta. , Ecuador. The Company has retained the services of Mario Falquez Andrade, Professional Engineer, to examine the technical aspects of the project. Mr. Falquez Andrade is a registered mining and metallurgical engineer (Mexico University 1975) and is affiliated with a number of professional associations including the Ecuadorian Society of Engineers, the Association of Mining, Metallurgical and Geological Engineers of Mexico, as well as the Mining Engineers Association of Ecuador. Mr. Falquez Andrade has over 30 years of experience in mining engineering at numerous production projects. From December 1997 to March 2000 he was the project manager at the Minanca project which is presently under review by the Company. Mr. Falquez Andrade is, therefore, well acquainted with all technical aspects of the project. Mr. Falquez Andrade has also authored numerous published articles in engineering journals and has served as Undersecretary of Mines for the government of Ecuador. The Portovelo-Zaruma mining district has a reported historical gold production of over 4.5 million ounces. Gold is located within a series of base metal rich shear, stock work and vein structures, adjacent to and bordering on alteration zones and halos associated with a cluster of acidic porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. intrusives. The property, comprising 45 hectares (112.5 acres), is located on the North bank of the Amarillo River, located within the town of Portovelo. The property is easily accessible by all weather roads with power and experienced personnel located in the immediate area. The project was in production until 1950 when Asarco terminated production due to low gold prices, when gold was valued at $35.00 an ounce. Asarco had completed over 14 levels of underground development and workings below the adit entrance. In 2002 underground mining resumed on the upper two levels of the mine, with modest production presently at the rate of 25,000 grams per month. In 2004 the property produced in excess of 200,000 grams from 58,000 tonnes from one easily accessible vein structure using inefficient mining methods. From the above, the present owners reported net revenue from mining in excess of $1 million U.S. Management of the Company believes that the property may host significant potential based on the past production history when Asarco was the operator, and the fact that even using inefficient small scale mining techniques, the mine is able to produce at present. The Company will be carrying out a comprehensive due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and technical examination of the project assets and its exploration potential. For general information on the area under consideration the web sites listed below are informative. www.cme.org.ec/Panoramai.HTM HTM HyperText Markup (file extension) HTM Hand To Mouth HTM harmful-to-minors HTM Held-to-Maturity HTM High Tide Mark HTM Hazlo tú mismo (Spanish: do it yourself) HTM Hierarchical Temporal Memory www.landlockedfilms.com/Streams%20of%20Gold.htm ON BEHALF OF THE BOARD Lee A. Balak, President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this news release. Britannica Resources Corp. (TSX VENTURE:BRR) (PINK SHEETS:BRRF) |
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