Mena Resources Inc.: Drilling Commences on Vaquillas Project in Northern Chile.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 -- Mena Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MEA MEA Multiple endocrine adenomatosis. See Multiple endocrine neoplasia. ) is pleased to announce that its joint venture partner, Minera Teck Cominco Teck-Cominco TSX | TCK.B[1], NYSE: TCK) is a Canadian mining company. It was formed from the amalgamation of Teck and Cominco in 2001. Cominco started in 1906 as The Consolidated Mining and Smelting Company of Canada, formed by the amalgamation of several Chile Ltda ("Teck Cominco"), has commenced drilling at the Vaquillas Project located 110 km east of Taltal in the Antofagasta Region of northern Chile. The project covers an area of 60km in length and up to 15km wide and lies along the Domeyko-West Fissure fissure /fis·sure/ (fish´er) 1. any cleft or groove, normal or otherwise, especially a deep fold in the cerebral cortex involving its entire thickness. 2. a fault in the enamel surface of a tooth. Fault Zone between BHP Billiton's La Escondida mine to the north and CODELCO'S El Salvador 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. copper mine to the south. E[acute accent]The Vaquillas Project, like the region, is prospective for porphyry copper, gold and silver and will see approximately 2000 meters of drilling during the current drill program. Drilling will be directed at several recently outlined geological and geophysical targets. E[acute accent]Under the agreement, Teck Cominco has the option during the initial earn-in period to earn a 55% interest in the Property by incurring US$4 million in expenditures by September 30, 2008. Minimum cumulative project funding in the initial three years shall be as follows: E[acute accent]US$800,000 by September 30, 2006 E[acute accent]US$2,000,000 by September 30, 2007 E[acute accent]US$4,000,000 by September 30, 2008 E[acute accent]Under the basic terms of the agreement upon earning a 55% interest in the property, Teck Cominco may, at its option, earn a further 15% interest in the Property for a total 70% interest by completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and paying Mena US$2 million before September 30, 2011. Teck Cominco is the operator of the project and will provide all the necessary personnel and support to execute the exploration programs during the earn-in period. E[acute accent]Management looks forward to working with Teck Cominco in furthering the Vaquillas project and will supply progress up-dates in a timely manner as material information becomes available. Gregory F. Smith, PGeo is the NI 43-101 Qualified Person for Mena Resources Inc. responsible for the technical data reported in this news release. Mena is a junior mining company focusing on gold and base metal exploration in Latin America. The Company currently has projects in Chile, Venezuela and Honduras and is listed on 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. under the symbol MEA. E[acute accent]MENA RESOURCES INC. E[acute accent]Mario Szotlender, President E[acute accent]The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release. E[acute accent]Mena Resources Inc. (TSX VENTURE:MEA) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion