Eil ready to leave the station.
this about to have a push in the next two weeks it looks like it is starting now maybe today will tell.Keep your eye on it it could hit .70 or at least double real soon they are J/V with Queenstake that are drilling the mata mata peru this next door to the Aquippa mine just bought by Barrick
ETC Industries Ltd.
CAPITALIZATION (as at December 31, 1996)
Authorized : 100,000,000 common shares
Issued and outstanding : 9,003,440 common shares.
12g Exemption: 82-1508
LISTED
Trading Symbol: VSE - "EIL"
NASD OTC BB "ETCIF"
Incorporation Date: March 17, 1980
Incorporation No.: 206 592
Exchange: V.S.E. Listed March 16. 1981
The company wishes to announce that it has entered into an agreement with Queenstake Resources Inc. (QTR.T) to acquire a 51% interest in the Mata Mata Project in North Western Peru by expending U.S.$150,000 for an initial drilling program and, after further recommendation to proceed, will incur up to an additional U.S.$850,000 over a 24 month period. The property is located in the Ancash area and falls in the same trend as the Pierina deposit which was developed by Arequipa Resources and is now owned by Barrick Gold. The first phase drilling program is to commence as soon as possible with the second phase to follow after further evaluation. A maximum allowable finders fee is payable. The Company is seeking approval by the Vancouver Stock Exchange for the
agreement.
EIL... I will be providing an detailed update on drilling tomorrow... but
key factors in core #1 were 95% recovery (indicates continuous mantle
below), drilled 240 meters, heavily mineralized, with one 40 foot
section greater than 30% mineralized, visible signs of gold, lead and
silver... hole two almost done... over 100 samples in for analysis
and first set of assay results may be in as early at next week...
closed at $0.27 on volume of 78,500 shares... Queenstake is
encouraged by the drilling to-date, as a result a fourth hole has been
added to the drilling program...
June 11, 1997
ETC Industries (EIL:VSE), jumped near the close to 0.27. This is
very indicative of a 'pre-promotion alert' as the market-makers
remove their offers and clean up the residue. Beyond 0.28, there is
"nothing"! The last few weeks has seen the stock move into a
longer-term shareholder base (confirmed). We should see a climb to
0.30 shortly, as 'onlookers' jump into the play action (speculators
wanting a peice of the potential run-up).
We are looking forward to seeing results from their first hole
for a few reasons: Queenstake (project operator) has chosen to add a
fourth hole to the program because of 1) what they saw in hole #1, and
2) core recovery was excellent giving them a better shot at a more
advanced drill program. Also, early word has it that there are
excellent values pulled from the first hole.
>V EIL C$ 11Jun Open Page 1 sto 1 25 .26 .27 280 2
1 200 .25 .28 450 3
3 270 .24 .29 70 1
2 150 .23 .30 50 1
2 130 .22 .31 50 1
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