NDT completes Antana scoping study
NDT Ventures Ltd NDE
Shares issued 25,538,743 Apr 10 close $0.11
Tue 10 Apr 2001 News Release
Mr. Fred Hewett reports
NDT Ventures has completed a scoping study on the Antana gold project
located near the city of Juliaca in southern Peru. The Antana project is an
intrusive related gold system acquired by the company in July, 2000.
In late 2000, NDT completed sixteen RVC drill holes, totalling 1,671 metres
and encountered significant widths and grades of gold mineralization.
Objectives of the drilling program included establishing the depth and
continuity of known surface mineralization and better defining the geologic
controls of the mineralizing system. These objectives were largely
accomplished. The scoping study included an internally generated resource
estimate that combined an indicated resource, as defined by drilling and an
inferred resource contained within the established permissive geologic
environment, and was designed to define within an order of magnitude the
economic probability for the project.
The scoping study was conducted internally by Thomas Burkhart,
vice-president of exploration under the supervision of a qualified person,
Fred Hewett, P.Eng. who is not independent (as defined by N.I. 43-101). The
cash flow analysis portion of the study utilized the services of Mine
Development Associates of Reno, Nev.
As the resource estimate and scoping study were generated internally by the
company, under N.I. 43-101 the specifics of the resource and study can not
be released to the public. The study indicates that with anticipated
capital and operating costs and at current gold prices, the Antana project
is economically marginal and return on investment is gold price sensitive.
The company believes that good exploration potential exists on the
property, but significant project expenditures would only be justified at
higher gold prices. NDT will continue to assess the future of the project
while aggressively assessing new opportunities in Peru and elsewhere, with
South America remaining a priority.
Currently, several quality projects that meet the company's high standards
to increase stockholder value are in varying stages of review.
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