Press Release Source: Dhanoa Minerals Ltd.
Dhanoa to Launch Intensive Exploration Program Monday April 2, 4:00 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Apr 2, 2007 -- Dhanoa Minerals Ltd's (OTC BB:DHNA.OB - News)(Frankfurt:D7Z.F - News) three gold mining operations are located in southern Ecuador within the famed "Bella Rica" Camp. Some of the numerous strong and persistent very high-grade vein systems in this area have been mined almost continuously since the Spanish Conquest centuries ago. Even today, many rudimentary operations are conducted by small scale local groups, scattered around the densely mineralized mountain. ADVERTISEMENT Ecuador traditionally has not been on major miner and investor radar screens. However, all that changed recently with the Aurelian Resource Inc. discovery of a deposit which many contend contains well over ten million ounces of gold. The Aurelian deposit appears to be on the projection of Newmont's giant Yanacocha operation in northern Peru.
Just east of Dhanoa's operations is the Quimsacocha Project of the Iamgold Corporation, with Indicated Resources approaching three million ounces of gold and twenty million ounces of silver. Adjacent to the north are the Gaby and Papa Grande deposits of International Minerals Corporation, with an historical resource of the order of five million ounces of gold.
Southeast of Bella Rica is the rich Portovelo Mining District. This area is somewhat comparable in terms of mining style and history, but more advanced with respect to operations and development. Portovelo is indicative of what can be done with sufficient resources with positive implications for our Company.
It appears that Dhanoa is strategically positioned within an emerging gold arena of international stature. As initial steps to realize full potential, the Company is formalizing plans to undertake underground expansion, open pit development and the installation of a centralized modern treatment plant to produce gold, silver and copper.
However, to realize its full potential, it is critical to establish a larger well-defined resource base. The prior operators lacked sufficient technical expertise and capital to develop and identify the full gold vein potential. Dhanoa proposes to remedy the matter by initiating an aggressive and widespread exploration program to prove up resources that would qualify under Canadian 43-101 standards and facilitate project financing and expansion.
|