news out: Spirit Exploration, Inc. Begins Phase One Exploration Program on Kylee Concession, Ecuador
MACHALA, ECUADOR--(MARKET WIRE)--Oct 30, 2007 -- Spirit Exploration, Inc. (Other OTC:SPXP.PK - News) has begun its Phase One exploration program on its recently acquired Kylee concession. Spirit has retained Duncan J. Bain, P.Geol. of London, Ontario, Canada to conduct this independent exploration field work. Duncan Bain has conducted over 100 geological studies around the world and is 43-101 compliant. The program will include detailed mapping, prospecting, stream sediment sampling, chip and channel sampling, trenching and litho geochemical sampling. All current and past underground workings will be mapped, surveyed and sampled. The result of this preliminary program should give us many potential drill targets.
Mr. Bain has also been commissioned to independently review several mining projects Spirit presently has under option. These properties encompass over 30,000 hectares in Zaruma, Portovelo, Loja and Machala areas of Ecuador. These projects range from grass root exploration projects to concessions with operating mines. Peter Laipnieks, President of Spirit stated "there is a land rush going on in Ecuador and we are securing a range of projects that will add to our resource base. Our initial focus was to secure and develop known veins systems such as our Muluncay and Maria Olivia Projects. We are now looking to add other projects to our portfolio that offer "discovery" potential as well as added production."
