ECUADORIAN CLAIMS PRIME GOLD TARGET AREAS.SCOTTSDALE, AZ--(BUSINESS WIRE)--JULY 25, 1995-- ECUADORIAN MINERALS (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. ) Ecuadorian Minerals Corporation ("EMC") is pleased to announce that it has claimed (on a 100 percent basis) new exploration concessions covering two large areas of highly prospective ground in southern and central Ecuador. Over a year of extensive research, regional geological evaluation and field reconnaissance work with the objective of identifying areas with potential for large tonnage bulk mineable gold deposits has resulted so far in the claiming of 25 exploration concessions comprising approximately 70,000 hectares (700 square kilometers). The MONTE NUEVO area located in central Ecuador's Cotopaxi province consists of 14 concessions totalling 34,750 hectares. Initial work to date has identified several stream sediment anomalies with values up to 1.7 g/t gold and a hydrothermal breccia with rock chip assays up to 10.0 g/t gold. The claims cover a structurally well-prepared complex of volcanics, metasediments and intrusives - a geological setting favorable for bulk tonnage gold porphyries and volcanogenic massive sulphide deposits. The PICO Pico (pē`kō) [Port.,=peak], island (1991 pop. 15,129), 167 sq mi (433 sq km), Horta dist., in the N Atlantic, one of the central Azores. It takes its name from the volcanic mountain, Pico Alto [high peak], which rises to 7,711 ft (2,350 m). DE ORO ORO Oak Ridge Operations (DOE) ORO Operations Research Office ORO Office of Regional Operations (EPA) ORO Offsite Response Organization ORO Operations Research Organization ORO One Reference Only area is located in southern Ecuador in the provinces of Loja and Zamora Chinchipe and consists of 11 concessions totaling 34,960 hectares. The concessions cover most of a large (45 km x 12 km) porphyry intrusive complex which extends from northern Peru where several major and junior mining companies were recently engaged in a staking rush. The source areas for two active gold placer mining operations on the Rio Bolivar and the Rio Jibaro ji·ba·ro n. pl. ji·ba·ros 1. A rural inhabitant of Puerto Rico. 2. The country music of Puerto Rico. [American Spanish jíbaro, possibly from Taino siba are located on EMC concessions and the Isimanchi polymetallic deposit is adjacent to and partially surrounded by EMC holdings. EMC's acquisition of the MONTE NUEVO and PICO DE ORO areas represents the initial results of the Company's on-going exploration efforts to identify prime gold porphyry target areas in Ecuador. Field work in these and other high priority areas is in progress. After careful evaluation of results from the 2,000 meter drilling program on the 49 hectare TRES TRES Tree Swallow (bird species Tachycineta bicolor) TrES Transatlantic Exoplanet Survey TRES Threat Radar Emitter Simulator CHORRERAS concession, it has been determined that the property does not meet corporate objectives with regard to size potential to justify further work. The concession will be returned to the owners. On Behalf of the Board Stephen J. Kay President and 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. -0- The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. neither approves nor disapproves the information contained in this News Release. CONTACT: Jim Kasten, 602/483-9932 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion