Ecometals Announces Exploration Summary 2011 and Plans for 2012; Hits New Year Low
Shares of Ecometals Limited (EC.V) have hit a new year low of $0.125 today, after dropping 7% from the previous $0.135 close.
Today, Ecometals announced the summary of 2011 results and plans for continuation of exploration activities on the Rio Zarza Gold Project in southern Ecuador. Results of the drilling continue to be encouraging for discovery of epithermal type gold mineralization analogous to the adjacent Fruta del Norte deposit operated by Kinross.
The company also reported its plans for 2012, which include the following main tasks and objectives:
- Compilation of 2011 results pending receipt of geochemistry, XRD and
petrography, and other research studies in progress
- Update of exploration conceptual model to refine deep basin drilling
- Continuation of drilling in the Misahualli-Suarez basin anticipated to
start March 2012
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