Gold and Silver Juniors, Mid-tiers and Producers Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: onepath	10/19/2006 12:27:50 AM
	of 78419

Corriente Resources Inc Symbol CTQ Shares Issued 74,622,393 Close 2006-10-18 C$ 4.19 Recent Sedar Documents Corriente seeks 43-101 report for possible spinoff 2006-10-18 18:03 ET - News Release Mr. Kenneth Shannon reports UPDATE OF ECUADOR GOLD PROPERTIES SPIN-OFF TO SHAREHOLDERS Corriente Resources Inc. has engaged an independent consultant to complete a review of its Ecuador gold concession package totalling 6,600 hectares containing encouraging gold targets that are not part of the current copper development program within the Corriente copper belt. Following completion of this review and accompanying 43-101 technical report, management can move forward with the company's plan to distribute these concession rights to existing shareholders. The company has received independent advice that the transaction will proceed at no cost to shareholders as of the chosen record date. The record date will be announced later this quarter following receipt of the 43-101 report. The gold concessions include the Tundayme prospect, which is immediately adjacent to Corriente's Mirador copper deposit landholdings and is approximately 15 kilometres from Aurelian Resources Inc.'s newly discovered Fruta del Norte gold zone. The Tundayme prospect has approximately eight km of north-south-trending structures that extend along strike to the Mirador project. This eight km trend is oriented in the same direction as the Fruta del Norte mineralized trend and parts have had preliminary prospecting and soil sampling done by Corriente. Further work is required to follow up anomalous gold soil and rock samples from that initial work. Also included is a second set of concessions approximately 50 km southwest of Mirador called the Piedra Liza prospect. Within the Piedra Liza prospect, four clusters of anomalous gold soil samples occur over a six km trend that is on strike and north of the Nambija area, which has produced over three million ounces of gold by local estimates. Follow-up ground work has identified altered rock samples with maximum gold values at one to four grams per tonne. The qualified person for this disclosure is John Drobe, PGeo, chief geologist. Corriente remains focused on moving its Mirador copper-gold project into production, along with development of the large Panatza/San Carlos copper complex in the north of the Corriente copper belt. The Tundayme and Piedra Liza gold prospects are not considered core to Corriente's copper growth plans and will be transferred to a new corporation that will be financed separately from Corriente Resources Inc. We seek Safe Harbor.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next