ETC Industries <EIL-V > - Gold - Peru Message Board

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Gold/Mining/Energy : ETC Industries - Gold - Peru

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To: Sergio R. Mejia who wrote (169)	11/4/1997 5:16:00 PM
From: baron-marney	Read Replies (1) of 244

The Chupaca gold prospect was originally staked as Ancash 26 is located in the Cordillera Negra, north central Peru at elevations of 3,300 to 3,800 meters, about 14 kilometers northwest of Huaraz and four kilometers northwest of Barrick's(NYSE-sym/ABX close 20 3/8ths) Pierina gold deposit. Chupaca was discovered October 1995 during helicopter-supported reconnaissance examination of TM imagery targets for alteration and mineralization. The property of 500 hectares or aproximately 50,000 acres and was owened by Queenstake Resources Ltd. and its 100% subsidiary Compania Minera IRI Peru S.A. prior to the agreement outlined in (169) your message. The E.T.C. Industries (EIL-v) acquisition is surounded on three sides by property and 100% owned by Barrick and to the north by property recently acquired in the Barrick 51%/ Queenstake 49% joint venture. Baron-Marney has color maps availible on the three companies CHUPACA-ANCASH, PERU holdings which shows E.T.C. interests in relation to the Pierina gold deposit of approiximately 6.5 million ounces. Early indications suggest up to 100 million tonnes of minerlization rock.

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