Network modifies work commitment and payment schedule for Calderaadmin
Network Exploration Ltd., a mineral exploration Company announce that its Chilean subsidiary, Network Exploration Chile Limitada, has modified the terms of its work commitment and payment schedule whereby the Company will continue to earn a 50-per-cent interest in the Caldera gold and copper project as announced November 9, 2006.
Under the terms of the modified agreement the overall work commitment and property payments remain the same; however, the payment schedule has been modified to expedite this year’s work program.
Network will release details of its upcoming work program on the Caldera property in due course.
The Caldera property, covering an area of 2,400 hectares, is located in the mineral-rich Huasco province of Chile. Based on historical occurrences of gold and copper deposits in similar geological settings within the Andes Mountains and historical gold mining activity on the property itself, the Company is confident that there exists a strong potential for the Caldera project to host economic gold and/or copper ore bodies.