Hi All, I plucked this news release from the NPEC thread. Looks like this could be the first in a series of news releases planned for the near future, based on recent NPEC posts. 50,000,000 tonnes!!
NP ENERGY CORPORATION
June 14, 1997
NEWS RELEASE
NP Energy Corporation is issuing the following update on the Chilean copper and gold
projects. NP Energy holds a 20% interest in the Andacollo gold properties and a 20%
interest in the Copiapo (Mina Claudia) copper project. Company geologists have
estimated the potential for the Andacollo to be in excess od 3,000,000 tonnes of gold
ore in the manto structures and in excess of 3,000,000 tonnes in the high grade zones.
In the Copiapo properties projections are for a potential in excess of 50,000,000
tonnes of copper ore.
The following is received from the Company's partner, Frontier International
Resources Inc..
Frontier, through it's wholly owned susidary, Sierra La Plat S.A., has signed a lease
agreement on the Churumata property in the Andacollo mining district in Chile. The
agreement covers the site where construction is partially finished on a mill and test
facility. On the Company's other properties in the Andacollo, Company geologist,
Micheal Sandidge of Phoenix, AZ has been sampling and testing the ore zones to
define drill targets and potential reserves. Assay results have not been made available
as yet and will not be until the completion of Sandidge's reports. From the known data
such as previous drilll results, mining activities and current assay results. Mr. Sandidge
initiated negotiations several weeks ago and has been successful to date. Several
additional acquisitions are expected to be completed shortly. Frontier further reports
that all contractual obligations to the property are current. Finally Sierra La Plata
announces that it has initiated a law suit against Dayton Mining Corporation in order to
protect it's rights under the newly acquired Churumata property lease agreement.
Dayton is attempting to gain access to their mine site by annexing the surface rights to
the Churumata property. Lawyers for the Company inform us that under Chilean law,
the rights of the lessors and the lease contract are to be preserved.
For further information call Dave DiRicco at 415-261-9608
On Behalf Of The Board Of Directors
Per: Larry Regis Jr., President |
