Daleco Resources Initiates Zeolite Pre-Development Program in Texas.WEST CHESTER West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa. -- Daleco Resources Corporation's (DLOV:OTCBB OTCBB See OTC Bulletin Board (OTCBB). ) wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Clean Age Minerals, Inc., announced today that a pre-development program has been initiated on its Marfa Zeolite zeolite Any member of a family of hydrated aluminosilicate minerals that have a framework structure enclosing interconnected cavities occupied by large metal cations (positively charged ions)—generally sodium, potassium, magnesium, calcium, and barium—and water Mineral Deposit. Stephan V. Benediktson, Daleco's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated that the pre-development program is designed to delineate, consistent with current regulatory definitions, ample reserve quantities to support long term extraction and processing operations. He noted that the work is timed to coincide with the Company's market development efforts. Richard Thibault, President of Clean Age Minerals, stated that the pre-development program will include a geological field program, including the drilling of approximately 30-40 bore holes totaling 3,000 feet. He added that the drilling and sampling efforts are expected to provide data as to the overall depth and depositional setting of a select portion of the zeolite deposit and analytical information regarding both surface and "at depth" physical and chemical properties of the in-situ zeolite ore. Mr. Thibault noted that independent qualified geological consultants have been retained to act as project supervisors and to produce a geological and reserves report. It is anticipated that the project will be completed in the second half of November. The successful completion of the pre-development program is a major step towards the ultimate commercialization of the Clean Age Mineral's Marfa Zeolite deposit. Daleco Resources Corporation is a natural resource company with holdings in oil and gas and minerals. Clean Age Minerals holds industrial mineral interests in Texas, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and Utah and provides leading edge mineral-based technology solutions to the environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a market. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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