Silver Companies Netco Silver
Last Updated on Sunday, 21 August 2011 09:57 Written by Brian Boutilier Sunday, 21 August 2011 09:56
Mining Companies - Silver Companies
Junior Explorer: Silver, multi-metals
Netco Silver is a junior exploration precious metals company committed to optimizing shareholder value through the acquisition, exploration and development of pure play silver opportunities in Latin America. The company’s headquarters are in Vancouver, BC, with a dedicated management team that brings a track record of acquiring quality assets and successfully raising capital to execute a defined business plan. The Company is listed on the Toronto Venture Exchange under (NEI) and OTC under (NTCEF).
Annual Trading Range .03- .23
Trading on 18 Aug 2011 @ .125
S/O 40,073,275
Warrants 12,120,000
Options 750,000
Fully diluted 52,943,275
March 31 2011
Cash and Equivalents 11.2K
ST Liabilities 78K
Revenue 0
Cash Burn Rate 107K
Quarterly Gain/Loss (0.00)
Update: Netco Increases Private Placement To $750,000
Stage: Discovery, Outlining Targets, limited Drilling
The Toruel Project consists of 5,736 hectares (14,168 acres) and many epithermal veins that have variable amounts of significant copper, silver, gold, indium, lead and zinc. Some of this mineralization is quite robust. The separate vein systems contain mineralization characteristic of the upper, intermediate, and lower levels of epithermal systems. Only a small fraction of the total vein systems have been drill-tested.
On a project scale, the individual veins of the Toruel Property occupy a corridor that strikes about N60E. This corridor is about 5 km in width and at least 15 km in length. Despite numerous recent drill holes completed by Netco’s partner, Marifil, the property is still in a very early stage of exploration, primarily because the majority of drill holes were concentrated on one target, the Toruel Vein. Although drilling has been concentrated on the more robust veins exposed on the surface, there may be many targets concealed by alluvium that have not yet been discovered.
The majority of the value found to date comes from the silver content of the mineralization. Although silver and copper presently are of the most value on the project, it also remains possible that, as exploration continues, gold or base metals may become more important, as the veins could zone laterally or vertically into a gold-rich zone. Indium has also been found in significant amounts locally, and could become a significant by-product.
The western block is shorter than the east block, geochemical values are lower (although still strongly anomalous), and its vein system is generally thinner, ranging from 1m to, perhaps, 4m in width. The western block has strongly silicified areas, >10m wide, along the main structure and a strong sericitic alteration assemblage. The central part of the structure is a quartz vein that is 0.50 m thick. The gold anomalies are lower than 1 g/t, with silver values generally less than 200 g/t. The eastern block shows more pronounced topography and forms a low ridge up to 20 m high and 100 m wide. The vein system has a geometry of splays and horse tail veins and veinlets splitting off of the main structure.
This part of the vein can be traced for more than 1,200 m along strike and is still open-ended. The main part of this vein averages more than 5m wide and surface channel samples show silver values averaging in excess of 400g/t with one sample containing 0.0 to 5,871g/t silver. Gold anomalies are variable, ranging from 0.14g/t up to 7g/t but, in general, the average is closer to 0.50 g/t Au.
Exploration Program
Aug, 2011
Management has just returned from a trip to Argentina, which included a site visit on the Toruel Project with the consulting geologist that oversaw the exploration work previously performed. Over the next three months, Netco will embark upon its first phase of exploration on the Toruel Project, which will include detailed mapping and sampling of the property, as well as geophysical work and trenching. The goal is to gain a better understanding of the true scope of the previously discovered Toruel vein system, as well as to investigate the entire property for additional veins and potential that may exist outside of the Toruel vein structure.
Andrew Gourlay (P.Geol.) President: “Sound geology begins with the systematic mapping and sampling of the property to truly understand its potential. We already know have a high-grade vein structure in the Toruel system, but this work will help us to determine if there are additional targets that we have yet to uncover on this property.”
Andrew Gourlay, President & Director
Mr. Gourlay is a mineral geologist with nearly 30 years of extensive exploration and management experience throughout South America, Asia and North America. Over his career, Mr. Gourlay has been a Qualified Person responsible for authoring numerous NI 43-101 reports and has successfully advanced projects from grassroots to definition drilling and into the resource calculation stage. These include the Bonaparte Gold Property in British Columbia and managing Kennecott Canada's first two years of successful diamond exploration in the Lac de Gras area. He is the former President of Andean American Mining Corp and Sinchao Metals Corp. and served as Exploration Manager for Chase Resource Corp in the Philippines, Essex Resource Corp in Bolivia, and Asia Gold Corp (a subsidiary of Ivanhoe Mines Ltd) in Mongolia. A graduate of the University of British Columbia in 1977, Mr. Gourlay is also registered with the Association of Professional Engineers, Geologists and Geophysicists of Alberta and a Fellow of the Geological Association of Canada.
Michael Sweatman, CFO & Director
Mr. Sweatman brings over 20 years experience as a Chartered Accountant in public and private practice, working with and advising many companies listed on the TSX Venture and Toronto Stock Exchanges including a former role as CFO and President of Yukon Energy Corporation. He is also currently CFO and Director of Lions Gate Metals Inc. [LGM.V] and Galena Capital Corp. [FYI.V] and Director of Mega Precious Metals Inc. [MGP.V] and of Mega Uranium Ltd. [MGA.TO]. Since November 1992, he has operated MDS Management Ltd., a Vancouver-based management company. He is a veteran member of the Institutes of Chartered Accountants of both British Columbia (1982) and the Yukon Territory (1990). Mr. Sweatman obtained his Bachelor of Arts degree in Economics and Commerce from Simon Fraser University in 1982.
Colin Bowkett, Director
Mr. Bowkett brings nearly 20 years experience in new project and business development as well as strategic alliances to the company. He is a partner in Canadian Nexus Ventures, a private investment firm based in Vancouver. His contributions have facilitated and financed multiple international Oil & Gas, and Mining transactions in both the private and public sector. Mr. Bowkett is a frequent guest speaker and contributor at various investment conferences, and currently serves on the board of directors or in advisory positions for several private and public entities.
Paul Andreola, Director
Mr. Andreola’s experience in business development and financial markets spans over 20 years with roles in senior management, marketing and communications for early stage companies. He is the co-founder of both MDU Communications Inc., a provider of premium telecommunications services, and Destiny Media Technologies Inc., a leader in digital media distribution. Mr. Andreola has served on the board of, and in advisory positions to, several public and private companies. Previously in his career, Mr. Andreola was a licensed investment adviser for over 10 years, and has facilitated and financed multiple early stage private and public companies in the resource and technology sectors.
Vartan Korajian, (President, Green River Petroleum subsidaries)
Mr. Korajian brings over 25 years experience as an international financial and marketing consultant, and corporate founder and manager of a number of private Canadian and international businesses. Mr. Korajian is founder of Global Asset Management and Consulting Inc, an international consulting firm specializing in structuring businesses with a concentration on marketing, financing, and human resources. Mr. Korajian speaks four languages fluently and earned a Bachelor of Commerce in Entrepreneurial Management from Royal Roads University of Victoria, BC. and an MBA in Marketing and Strategic Management from National University School of Business, San Diego.
Media
Letter to Investors-August 17th, 2011
Wednesday, 13 July 2011
Wednesday, 22 June 2011
Netco Increases Private Placement To $750,000
Wednesday, 06 April 2011
Netco confirms TSX Announcement on tier reclassification
Friday, 25 March 2011
Netco signs agreement to Acquire Toruel Silver Property
Friday, 04 March 2011
Announcement of Mr. Andrew Gourlay as Director, President & CEO
Wednesday, 16 February 2011
Monday, 10 January 2011
Appointment of Vartan Korajian to Netco Subsidiaries
Monday, 10 January 2011
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