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From: B-Haile (eritrea.lave@comhem.se)
Date: Sun Nov 28 2010 - 19:50:03 EST
NGEx Resources Inc (Canada) - Eritrea Project
Eritrea
In Eritrea the company is exploring for volcanogenic massive sulphide deposits. The company's most advanced project is Hambok.
Hambok is a volcanogenic massive sulphide copper/zinc project located in the western lowlands of Eritrea approximately 200km by road west of the capital city of Asmara. The Company's land position covers approximately 100km of favorable stratigraphy northwest and southeast of the Bisha Deposit.
A NI 43-101 report was completed in January, 2009. Indicated resources (at a 0.75% zinc cutoff) are estimated at 10.7 million tonnes grading 0.98% copper, 2.25% zinc, 6.84 g/t silver, 0.20 g/t gold containing 231.1 million pounds of copper, 530.7 million pound of zinc, 2.3 million ounces of silver, 68.8 thousand ounces of gold. There is an additional inferred resource (at a 0.75% zinc cutoff) of 17.0 million tonnes of 0.85% copper, 1.74% zinc, 5.89 g/t silver, 0.19 g/t gold containing, 318.5 million pounds of copper, 652.1 million pounds of zinc, 3.2 million ounces of silver, and 103.8 thousand ounces of gold.
The Company holds its exploration ground through exploration licenses granted by the Eritrean government. The government retains a 10% carried interest in all discoveries and has the right to acquire an additional, fully-contributing, participatory interest in any discovery.
Maps and Photos http://www.ngexresources.com/s/eritrea.asp
Ngex Resources Inc. Company Profile http://www.24hgold.com/english/company-gold-silver-ngex-resources-inc-.aspx?id=21944696E6680
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