MD & A + Financial statement just releasedThe detailed exploration programme depends on the geological setting, and advancement is contingent on results,
but will utilise the following basic methodology:
? Focus is Rio Zarza project where geological encouraging alteration, geochemically anomalous Au and
associated elements, basin stratigraphy and structure evidence a conceptual model favorable for discovery
of epithermal mineralization analogous to Fruta del Norte. Exploration includes shallow drilling on
epithermal veins, deep-looking geophysics, computer 3-D modeling and deep drilling in the Misahuallí-
Suarez structural basin.
? Valle de Tigre is a conceptual/area play using the exploration model based on Fruta del Norte and will be
executed with Rio Zarza programme, primarily deep-looking geophysics.
? Santa Barbara FJTX license which was retained by Ecometals contains an estimated 20% of the published
NI43-101 compliant Au resource (146Koz of 821Koz), but exploration focus is on new discovery using
ground magnetics and shallow drilling (ref: Easdon, M and Oviedo, L, 2004: Technical Report on the
Condor Project, Southeastern Ecuador, UTM Coordinates 9,552,000N and 770,000E, for Goldmarca
Limited, 122p).
So they didn't sell the Santa Barbara property, what i appreciate!
Thought they sold it with condor...so we still have 20% of the ni43-101 which should be about 160.000 ounzes of gold worth
224 000 000 MIO $ (10% would be 22.4 Mio $ so the actual shareprice with all whats coming for ec is a bargain)
from the first reading i think they will to exploration drilling their, too which yould add to the resource
We have 1.6 Mio $ money in the bank from today's financial statement.
I am still sure good times are coming sonner than you think.