Neue news von DeBeira, warscheinlich um die verunsicherung zu beseitigen,
es wird heute noch weit hoch gehen!!!!!
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De Beira Announces Loi for Multi-Million oz Minanca Mining Gold Project in the El Oro Province of Ecuador
Friday June 16, 2:10 am ET
PERTH, WESTERN AUSTRALIA--(MARKET WIRE)--Jun 16, 2006 -- DE BEIRA GOLDFIELDS INC. ("DE BEIRA" or the "Company") (OTC BB:DBGF.OB - News)(FWB: D1Q)(WKN: A0JDS0) is pleased to announce that it has entered into a letter of intent with the vendors of the Minanca Mining Project in the El Oro province of Ecuador.
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HIGHLIGHTS
- Acquisition of a PRODUCING GOLD MINE with multi million oz potential.
- Existing resource base in excess of 4 million oz (not to NI43101).
- Located in Southern Ecuador where exploration activities have recently generated world class discoveries i.e. Aurelian Resources Inc. 189m @ 24g/t Au at its Fruta del Norte Project.
- Resource inventory in Colombia and Ecuador now in excess of 10 million oz Au or Au + Cu equivalent (not to NI43101)
De Beira Goldfields is pleased to announce that it has entered into a letter of intent with privately owned, Emco Corporation, over the poly metallic Minanca mining property located in the highly productive Portovelo-Zaruma gold belt in the El Oro province of Ecuador. The Portovelo region is host to a 15 km long system of poly metallic epithermal veins. Locally, the vein system covers an area approximately 7 km long by 1 km wide, with mineralisation hosted in highly fractured host rocks with quartz and carbonate filling.
The Minanca property has been continuously mined since 1845 and mining in the region dates back to the 1600s'. Mineralisation on the Minanca property includes gold, silver, copper, zinc and lead occurring in quartz calcite veins within an andesite host rock. The mine has 3 principal veins, varying in widths from 0.6m to 5m and length between 500m and 800m, of which only the Abundancia vein is the focus of current mining activity. Numerous stockwork veinlets separate the major veins, and these stockworks are currently undergoing evaluation for an open pit-mining scenario.
"We are very excited by the prospectivity of this region of Ecuador and welcome the opportunity to acquire such an important strategic asset in this zone. The company's asset base in South America is expanding rapidly due to the efforts of our Chairman, Klaus Eckhof, who will return to that continent next week," commented Reg Gillard, President.
Previous production from the mine since 1905 has been estimated at 4.5 million ounces of gold, the bulk of which was mined by SADCO (South American Development Company) between 1895 and 1950. SADCO total production for this period was 7.6 million tonnes at a cut off of 14.4 g/t gold for a total production of 3.6 million ounces of gold and 12 million ounces of silver.
The processing plant located 3km south of the mine is currently utilising 2 ball mills, flotation cells, carbon absorption and electrolysis.
Recent (non compliant) resource calculations resulted in an estimate of 4.73 million ounces of gold from 127 million tonnes.
No exploration drilling has been carried out in recent times. As part of the future development strategy, De Beira intends to fast track drill target definition to test the further depth potential of the current vein systems and simultaneously examine the potential of open pit mining the stockworks. De Beira is confident the drilling will also significantly increase the current resource estimate and will report these resources with reference to the NI43-101.
Deal Structure
Under the terms of the Letter of Intent with Emco Corporation, De Beira has agreed, subject to completion of due diligence, to acquire an 80% interest in the share capital of the Ecuador company, Minera Nanguita CA ("MINANCA"). Minanca is the owner of the Minanca operating mine and all related assets.
The purchase consideration for the 80% interest comprises 3 million restricted common shares in the capital of De Beira at a deemed price of not less than US$10.00 per common share and a cash payment of US$400,000. De Beira will also commit to providing approximately US$7 million in loan funds to Minanca, primarily for the purposes of exploration activities and mine upgrade, however an amount of US$1.375 million will be used to retire existing bank debt.
All resource/reserve reports were prepared without reference to NI43-101 or CIM definitions required for NI43-101 and thus may not qualify as reserves or resources.
DE BEIRA GOLDFIELDS INC.
Reg Gillard, Director
About DE BEIRA GOLDFIELDS INC.
DE BEIRA is a Nevada based mineral exploration company. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at www.sec.gov.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security. |
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