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GUAYAQUIL, ECUADOR--(MARKET WIRE) -- [H]arris E[X][P]ploratio[N] Inc., (H'X'P'N - News). The geographic location of the Balsapamba property is identified as the Balsapamba Parish, Canton San Miguel de Bolivar, Bolivar Province in the Republic of Ecuador. The property is marked as a polymetallic property, indicating the presence of several various mineral resources which have been divided into five mineralized sections. The blocks are called as Andres, Juan, Gilbert, El Cangrejo and Diana.
The UTM coordinates are PP. 9.804.800 N 702.300 E
9.805.800 N 702.300 E
9.805.800 N 703.600 E
9.804.800 N 703.600 E
An excerpt from the 203 page "Report on the Mineral Exploration in the Bolivar Area, Republic of Ecuador" authored in March 1991 by the "Japan International Cooperation Agency, Metal Mining Agency of Japan" identifies the Balsapamba area as a "Macuchi formation of late crustaceous and granitic rocks of Oligocene to Miocene that intruded into this formation."
A more recent internal research shows that indications of a hydrothermal alteration of siliceous character with epidotic, chlorite and sulfide mineralization in big concentrations, has had interaction with the andesite mineralization present. The primary direction of the mineralized bodies N. 35 W. apparently would be converging toward a centre among the benchmarks 870 and 900 and in proximity to the intrusive body; Preference in the block Andres were at the level of the river, 10 mineral bodies of 2.30 meters of thickness separated with cuarcitas and andesite blocks have been detected with disseminated sulfides and veins smaller then Quartz pyrite.
The Company is currently working with Minera Cristal partners to define a budget and initial project. Further news on this and other corporate progress is expected within the next few weeks.
Scott Wright of Zeal Research, writes: "Within the gold-stock world though lies a sub-sector that is not represented by an index and really has no boundary on its potential ... An early phase of exploration in which many juniors reside is called greenfields. Greenfields exploration is the poke-and-find method of exploring a broad target area that has initially favorable geology with little or no evidence of mineralization. This is probably the most important phase of exploration in the gold industry as it is ultimately responsible for its longevity."
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