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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: James N. Wilson who wrote (394)	7/27/2000 4:47:55 AM
From: TheBusDriver	Read Replies (1) \| Respond to of 4051

Here is the PR. Looks pretty good to me. CC also has put out an alert on NDT indicating this could push the stock to previous highs and beyond. In this depressed market I hope he is right. wayne ------------- NDT signs agreement for significant gold project NDT Ventures Ltd NDE Shares issued 25,538,743 Jul 25 close $0.26 Wed 26 Jul 2000 News Release Mr. Fred Hewett reports NDT Ventures has signed an agreement with a private Peruvian company whereby it can obtain an 80 per cent operating interest in the Antaiia gold project, a potentially large intrusive related gold system located in southern Peru. The agreement was negotiated with Compania Minera Solimana S.A., headquartered in Lima. NDT will be the operator of the project. The Antana project is located within the province of Azangaro in the department of Puno approximately 80 kilometres northeast from the city of Juliaca in southern Peru. The project is situated at an elevation of approximately 3,800 metres and is within 2O kilometres of a paved highway. In addition to excellent road access, the project is within close proximity to power and water. Gold mineralization at Antana is disseminated within a sub-volcanic rhyodacite with mineralization related to primary volatile differentiates of the intrusive. Gold is pervasively disseminated with silica in the rock matrix and within areas of volatile flooding and/or diffuse silica stockwork veining. The main zone of mineralization outcrops over an area of approximately 1,000 metres by 400 metres and forms a topographically distinct northwest trending ridge. The host intrusive appears to be a large sill that dips shallowly to the northeast under cover. Within the exposed area, 37 wide-spaced rock chip samples taken by the company averaged 1.115 grams per tonne Au with a high of 3.79 g/t Au. Fifty per cent of the samples exceed one gram per tonne. Each sample is representative of an approximate 10 metre wide area and are spaced a minimum of 50 metres apart. Prior to NDT consummating this agreement, a second North American based company carried out surface sampling on the property and these results were made available to NDT. Of 24 surface samples taken over an area of approximately 400 metres by 250 metres, the average grade was 1.24 g/t Au with a high gold value of 4.49 g/t Au. Fifty-eight per cent of the samples were over 1 g/t gold. These results are almost identical to results obtained by NDT in the same general area. Both flanks of the mineralized intrusive are lapped by black carbonaceous shale. Approximately 500 metres to the southwest of the main ridge isolated outcrops of mineralized rhyodacite, exposed through gravel cover, assay up to 1.75 g/t Au. These exposures significantly expand the area of potential as intrusive hosted mineralization can be reasonably projected under cover between outcrops. There are numerous historic mine workings along the intrusive/shale contact on both flanks of the ridge that exploited small antimony veins and breccias, and where values up to 3.8 g/t Au have been obtained. Given the surface distribution of mineralization and allowing for reasonable projections within a robust geologic environment, the Antana project has the potential for significant ounces of bulk-mineable gold. The apparent excellent continuity of gold mineralization combined with a low strip ratio, and favorable logistics make this project of clear economic interest. The company can earn its interest by paying (all US$) $1.15 million, with $200,000 payable on signing, and conducting $2.25 million in exploration over four years, completing a feasibility study and purchasing economically recoverable ounces of gold as defined by the study. The Company will initially earn a 50 per cent interest by completing the above payments and work expenditure, and purchasing 30 per cent of the defined gold ounces at $10.00 per ounce. It can increase its interest to 8O per cent by arranging financing for the project and by purchasing ana dditional 25 per cent of the defined gold ounces at $8.00 per ounce based on a $300 gold price, payable out of cash flow from any mining operation. NDT will receive preferential payback until all capital costs have been repaid, with Minera Solimana then receiving 20 per cent of cash flow. Work will start immediately, with drilling planned once initial surface work is complete. The agreement is subject to approval of the Canadian Venture Exchange, and a finders fee is payable. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com