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Company
Overview
Eaglecrest Explorations Ltd. (EEL-TSX.V; EAT-Frankfurt) is
an advanced gold exploration company with nearly 300 square
kilometres of mineral title at the San Simon project in northeastern
Bolivia. The structures that host gold mineralization on the
property are geologically identical to some of the major well-known
quartz vein gold deposits and gold shoots, such as those found
in Ghana in Western Africa, which have produced millions of
ounces of gold. Eaglecrest’s mission is to accelerate
the development of San Simon into a world class gold mine.
Gold at San Simon is located in high-grade vertical gold shoots,
similar to some of the major well-known gold deposits like
Ghana in West Africa.
This discovery enabled the company to begin a close-spaced
infill definition program, drilling holes that are spaced
25 metres apart rather than the usual 100 metres. To date,
Eaglecrest has completed 12,975 metres of drilling in 64 holes
at San Simon.
Eaglecrest began drilling another high-grade gold shoot (L484)
about 150 metres west of where it began its infill delineation
program. The company discovered thick gold mineralization
in two holes that were previously drilled and discovered new
high-grade gold intercepts which Eaglecrest is continuing
to drill.
San Simon is located in northeast Bolivia, which has been
a prolific mineral-rich country for centuries. In addition
to having a high density of mineral occurrences, several international
mining companies have moved forward with their Bolivian projects,
including: Apex Silver Mines, Coeur d’Alene Mines Corp,
Newmont Mining Corporation and Pan-American Silver Corporation.
The Bolivian government made two announcements in 2007 that
demonstrate its commitment to facilitating the execution of
mining projects. In May, a Presidential decree ensured all
mining concessions that were active over the last three years
will remain in force. And in November, the Bolivian Congress
approved a reform to the mining tax code, bringing more clarity
and certainty to the mining industry. These announcements
are great news for Eagelcrest, since the company can continue
with its exploration program exactly as planned. |
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