Tri-Valley Unit Announces the Addition of Two Copper Properties to Select Resources Portfolio
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BusinessWire
09:26 a.m. 10/25/2006
BAKERSFIELD, Calif., Oct 25, 2006 (BUSINESS WIRE) -- Select Resources Corporation, a wholly owned subsidiary of Tri-Valley Corporation (TIV), has recently added two copper properties to its base metals exploration portfolio. Both properties are located in mining friendly Nevada.
The first property, the FARJK claims, targets oxide copper, exposed over a large area which has received minimal past exploration. The claims cover outcrops with visible malachite, azurite and chalcocite. Numerous samples have been collected that have assayed in excess of one percent copper. The Nye County claim position covers roughly one square mile and can be expanded. Select Resources controls 100% of this claim block.
The second property, the Delcer prospect, contains visible copper mineralization. Malachite, azurite and chrysocola occur along a one-mile trend and the claims cover approximately one square mile in Elko County. This property has experienced limited copper production that dates back to World War I, with no modern exploration focus. Select Resources is a joint venture participant in the Delcer property.
Mr. David Oliver, Senior Staff Geologist, said, "Over the past twenty years, domestic copper exploration has been limited to efforts adjacent to existing mines. Opportunities are present to obtain quality U.S. copper properties that have been overlooked during this period."
"With the global long term copper outlook strong, and prices at record levels, our intent is to secure control or participate in copper properties with high grade mineralization, focusing on properties that may be able to be developed into mines within a reasonable period of time," stated Dr. Henry 'Rick' Sandri, President.
Select Resources is also exploring two large gold prospects in Alaska, owns the world-class high grade and ultra bright Admiral Calder calcium carbonate deposit in southeast Alaska, and participates in producing industrial minerals in California. |
