###### EIL V./QTR MATA MATA Peru joint venture COMMENCING DRILL PROGRAM

[Peter Meyer]

http://www.etcindustries.com/property/mata.html
>
> [Image] [Image]
>
> [Image]
> The Mata Mata Property, under
> option to ETC Industries Ltd.,
> [Image] is located in the Cordillera
> Stocks Negra region of
> Corporate Central-Northern Peru.
> Info Historically, this region has
> been known for it's
> [Image] silver-base metal deposits but
> Request more recently is being
> Form recognized as a gold district.
> Guestbook The property is located
> approximately 360 kilometres
> [Image] north-northwest of Lima; in
> the Department of Ancash and
> is centered at 08 degrees 54
> [Image] minutes south latitude and 78
> Mata Mata degrees west longitude.
> Property
> The initial claim on Cerro
> California Mata Mata was staked in 1994
> as a result of advanced remote
> Rainbow sensing technology used to
> Claims evaluate satellite images for
> early stage mineral
> exploration. This technology
> Click on Map enhances a response produced
> for enlargement by iron oxides, clay and
> alunite (common hydrothermal
> [Image] alteration products) to
> produce what is called a TM
> anomaly. Additional properties
> [Image] were acquired by Queenstake
> Resources Ltd. in February of
> 1996 following the
> announcement of a new
> disseminated gold discovery in
> the Cordillera Negra. This
> deposit, Pierina, is reported
> to contain in excess of five
> million ounces of gold and is
> currently being developed by
> Barrick Gold Corporation. ETC
> Industries Ltd. has an option
> agreement with Queenstake
> Resources Ltd. to acquire an
> undivided 51 percent interest
> in the Mata Mata Property. The
> terms of the agreement povide
> for ETC to make a payment of
> U.S.$40,000 (Cdn$55,400) and
> to provide a total of
> U.S.S960,000 (Cdn$1,329,600)
> for exploration purposes.
> [Image]
>
> [Image]
>
> Access to the Mata The Cordillera Negra mountain
> Mata Property is by range is part of the Western
> a network of paved Andean Cordillera which is
> roads, dirt roads characterized by very rugged
> and horse trails terrain and active glaciers
> which total a above 5,000 metres (16,400
> distance of 550 feet) above sea level. The
> kilometres from eastern foothills are more
> Lima. During the gently sloping. The property
> rainy season when comprises four claims covering
> road access is 1,000 hectares at elevations
> difficult the between 3,950 and 4,900 metres
> property may be (12,955 to 16,070 feet) above
> reached by Lama sea level. The climate is
> helicopter. semi-arid for most of the
> Accommodation, food,year, however, rain falls a
> fuel and portion of most days from
> communications are December through March.
> available in Huaraz,
> a distance of 135
> kilometres by
> road/trail and to a
> lesser extent in
> Huaylas which is 40
> kilometres by
> road/trail. The
> nearest seaport is
> at Chimbote,
> approximately 250
> kilometres by road
> from Huaraz.
>
> -------------------------------
>
> The Mata Mata Regional structures have
> Property is folded the sedimentary
> underlain sequence into a series of
> predominantly by twoanticlines and synclines. A
> formations of Lower large body of granodiorite has
> Cretaceous intruded the sedimentary rocks
> sedimentary rocks on the eastem side of the
> which have been claim block. Several sills and
> intruded by Tertiarydykes intrude the sedimentary
> stocks, sills and package. These smaller bodies
> dykes. The Santa appear to be more felsic than
> Formation comprises the granodiorite but may be
> medium and thick apophyses of the granodiorite
> beds of limestone stock. Other bodies intrude
> with rare the sediments on the
> intercalations of southwestem and northeastern
> shale. The limestoneflank of Cerro Mata Mata.
> is ferruginous, can These intrusive/sub-volcanic
> [Image] be locally dolomiticrocks are extremely altered
> and contains thin and may be dacite porphyries.
> lenses of black
> silica. The On the Mata Mata Property a
> calcareous rocks aresulphide system with
> overlain by thinly disseminated pyrite occurs
> [Image] bedded sandstones over an area extending one and
> Stocks and fine grained a half kilometres
> Corporate brown quartzites northwesterly by one kilometre
> Info with intercalations northeasterly. Within the
> of shale, limestone sulphide system, the
> [Image] and gypsum belongingpredominant form of
> Request to the Carhuaz mineralization is called a
> Form Formation. Most of manto but is more clearly
> Guestbook the rocks observed described as lenticular shaped
> on the property to replacement bodies of
> [Image] date belong to the disseminated to massive
> Carhuaz Formation. sulphides occurring within
> [Image] northwesterly striking
> [Image] sedimentary beds. Several of
> Mata Mata the mantos have intrusive
> Property sills or dykes adjacent to
> them. Although the
> California beds/structures themselves
> have been traced for distances
> Rainbow over a kilometre, the massive
> Claims sulphide zones within them
> pinch and swell over these
> lengths. In many places the
> sulphide bodies have no
> surface expression at all.
> Each manto appears to have a
> unique combination and
> proportion of sulphides
> occurring within it. The
> sulphides occur with lenses of
> quartz and/or chert and
> calcite. Country rocks are
> predominantly silicified
> quartzose sandstones. The area
> has undergone glaciation which
> left unoxidized sulphides at
> the surface.
>
> -------------------------------
>
> Most of the mantos Sulphides in the gold bearing
> are limited to base manto comprise predominantly
> metals, however, massive pyrite and lesser
> gold mineralization massive arsenopyrite,
> has been detected inpyrrhotite and magnetite with
> one of them. Grades disseminations of galena,
> of up to 7.5 grams sphalerite, chalcopyrite and
> per tonne gold occurenargite. A selected sample of
> in selected samples massive sulphides which
> of the massive carries 5.1 grams per tonne
> sulphides. Chip gold also contains 124 ppm
> samples across 1.5 (124 grams per tonne) silver,
> metres carry values 329 ppm copper, 9.05% lead,
> in the 0.5 gram 3.1% zinc, more than 10,000
> range. The gold ppm arsenic and more than
> bearing massive 2,000 ppm antimony.
> sulphide zones are
> up to three metres Drilling is recommended on the
> wide. The Mata Mata Property to test for
> bed/structure subsurface extensions to the
> hosting the gold gold bearing replacement
> bearing sulphides mineralization and concealed
> has been traced for bulk tonnage disseminated
> 1.5 kilometres alongmineralization. The drilling
> strike, however, theis recommended in three phases
> sulphide bodies are which are contingent upon
> not continuous alongfavourable results from
> it. The gold bearingpreceding phases. Phase I will
> manto was include a minimum of two drill
> investigated by old holes and is estimated to cost
> workings which U.S.$150,000 (Cdn$207,750).
> include 80 metres of
> tunnel and a couple
> of raises.
>
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>
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