Wednesday, July 12, 2006 4:50:50 PM
Wednesday July 12, 3:52 pm ET
TSX-V: GML
PANAMA, July 12 /CNW/ - Goldmarca Limited (TSX-V:GML - News) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
Robin Slaughter,
President and Chief Executive Officer
ABOUT GOLDMARCA: Goldmarca Limited (TSX-V: GML - News) is an international mining company that is engaged in adding value to gold and mineral projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ." For more information, please visit www.goldmarca.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Safe Harbor Statement:
Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.
For further information
Robin Slaughter, President & CEO, 507-66714370 or Nick Demare, Director & CFO, 1-604-685-9316 or send email to info@goldmarca.com
--------------------------------------------------------------------------------
Source: Goldmarca Limited
PEAK OIL #board-6609
PEAK OIL - SUSTAINABLE LIVING #board-9881
PEAK NATURAL RESOURCES #board-12910
PEAK WATER #board-12656
Recent GOLD News
- Barrick and Zijin Contribute $1 Million to Support Papua New Guinea Landslide Victims • GlobeNewswire Inc. • 06/07/2024 11:18:39 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/29/2024 08:01:04 PM
- Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders • GlobeNewswire Inc. • 05/15/2024 11:00:00 AM
- Barrick Announces Extensive Exploration Partnership with Geophysx Jamaica • GlobeNewswire Inc. • 05/01/2024 10:15:00 AM
- Barrick to Ramp Up Production As It Remains On Track to Achieve 2024 Targets • GlobeNewswire Inc. • 05/01/2024 10:00:00 AM
- Barrick Declares Q1 Dividend • GlobeNewswire Inc. • 05/01/2024 09:59:00 AM
- Barrick Announces Election of Directors • GlobeNewswire Inc. • 04/30/2024 08:15:55 PM
- Barrick On Track to Achieve 2024 Targets • GlobeNewswire Inc. • 04/16/2024 11:00:00 AM
- Notice of Release of Barrick’s First Quarter 2024 Results • GlobeNewswire Inc. • 04/09/2024 11:00:00 AM
- Strategy-Driven Barrick Builds on Value Foundation • GlobeNewswire Inc. • 03/28/2024 09:20:38 PM
- Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base • GlobeNewswire Inc. • 03/20/2024 02:00:00 PM
- Barrick Opens Academy at Closed Buzwagi Mine • GlobeNewswire Inc. • 03/18/2024 08:00:00 AM
- Barrick to Grow Production and Value on Global Asset Foundation • GlobeNewswire Inc. • 03/15/2024 11:53:01 AM
- Loulo-Gounkoto Delivers Another Value-Creating Performance • GlobeNewswire Inc. • 03/10/2024 10:00:00 AM
- Passing of the Right Honorable Brian Mulroney • GlobeNewswire Inc. • 03/02/2024 01:17:35 AM
- Kibali and DRC Partner to Promote Local Content • GlobeNewswire Inc. • 03/01/2024 02:22:43 PM
- Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara • GlobeNewswire Inc. • 02/23/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 10:28:08 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 08:05:25 PM
- Clear Strategies and Strong Partnerships Set Barrick Up to Outperform, Says Bristow • GlobeNewswire Inc. • 02/14/2024 11:00:00 AM
- Barrick Announces New Share Buyback Program • GlobeNewswire Inc. • 02/14/2024 10:59:00 AM
- Barrick Declares Q4 Dividend • GlobeNewswire Inc. • 02/14/2024 10:58:00 AM
- NGM Strongly Positioned for Growth • GlobeNewswire Inc. • 02/10/2024 01:00:16 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/08/2024 03:03:08 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/08/2024 12:46:55 PM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM
Element79 Gold Corp Files for OTCQB Uplisting, Provides Financial Update • ELEM • Jun 11, 2024 9:25 AM