Blue Vista Technologies Acquires Hurdman Property
08 9월 2011 - 8:30PM
Marketwired
Blue Vista Technologies Inc. (TSX VENTURE: BV.H) ("Blue Vista") and
Eloro Resources Ltd. (TSX VENTURE: ELO) (FRANKFURT: P2Q) ("Eloro")
are pleased to announce that they have entered into an arm's length
agreement (the "Agreement') whereby Blue Vista is to acquire
Eloro's wholly-owned Hurdman Property, comprising 13 contiguous
mining claims covering 2,944 hectares in Hurdman Township, 120
kilometres north-northwest of the city of Timmins, Ontario.
Pursuant to the Agreement and subject to regulatory approval and
closing, Blue Vista will acquire a 100% interest in the Hurdman
Property by issuing 5,000,000 shares and paying $40,000 to
Eloro.
The Hurdman Property
The Hurdman Property has concentrations of base-metals within
pyrrhotite-pyrite mineralization in biotite-garnet gneiss and
pegmatites, and has been explored for base-metal mineralization
since the 1960's. Mineralization consists of disseminated and
massive pyrrhotite and pyrite with associated sphalerite, gahnite,
silver and smaller amounts of lead and copper. The zinc-bearing
zone can be followed 250 metres along strike, 125 metres down dip
and over drill widths varying from 1 to 38 metres. Drilling by
Eloro identified a continuous zinc-silver rich, semi-massive to
massive sulphide zone. Nineteen of 25 drill holes drilled in 2007
intersected the Hurdman Sulphide Zone (HSZ). The drilling work
confirmed the presence of a zinc (greater than 2%) and silver
(greater than 15 g/t) corridor, which displays thicknesses varying
between 1.9 and 19.95 metres. The HSZ represents a large Zn-Ag
system that remains open in all directions.
About Blue Vista
Blue Vista is listed on the NEX Exchange, under the symbol BV.H.
Blue Vista is in the process of applying to become a Tier 2
Resource Issuer on the TSX-V and in conjunction with this is in the
process of acquiring a 100% interest in the Hurdman Zinc-Silver
Property located 120 kilometres north-northwest of Timmins,
Ontario.
About Eloro Resources
Eloro Resources is an exploration and mine development company
with a portfolio of gold and base metal properties in northern and
western Quebec. The Company is focused on expanding the historic
gold resources at its wholly-owned past-producing Simkar gold mine
property ("Simkar Property"). The Simkar Property consists of two
contiguous mining concessions totaling 226 hectares in Louvicourt
Township, approximately 20 km east of Val-d'Or, Quebec. Since 2009,
Eloro has completed 15,035 m of drilling on the Simkar Property and
has identified two new mineralized zones below the historic
workings and two near surface zones in a diorite unit south of the
historic workings.
Eloro plans to pursue exploration work at the Simkar Property
with the objective to outline quality gold resources in an
established mining camp.
The above technical information on the Hurdman Property has been
reviewed and approved by Steve McCutcheon, P.Geo. who is a
"Qualified Person" under National Instrument 43-101.
This News Release includes certain "forward-looking statements".
These statements are based on information currently available to
the companies and the companies provide no assurance that actual
results will meet expectations. Forward-looking statements include
estimates and statements that describe future plans, objectives or
goals, including words to the effect that the companies or their
management expect a stated condition or result to occur. There can
be no assurance that forward-looking statements will prove to be
accurate. Actual results and future events could differ materially
from those anticipated in such statements. Readers should not place
undue reliance on forward-looking information.
CAUTIONARY STATEMENT: Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
Contacts: Blue Vista Technologies Inc. Judy Baker President and
CEO (416) 786-7860 Eloro Resources Ltd. Thomas G. Larsen President
and CEO (416) 868-9168 (416) 361-1333 (FAX)
www.elororesources.com
(TSXV:BV.H)
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