Bridgeport Ventures Inc. Expands Rosario Land Position in Chile
05 February 2010 - 1:40AM
Marketwired
Bridgeport Ventures Inc. (TSX VENTURE: BPV) ("Bridgeport") is
pleased to announce that it has concluded an agreement to acquire a
100 per cent interest in the Simonetta property through its Chilean
subsidiary Rio Condor, S. A.
The 71 hectare property is located in Region III of Chile, near
the mining centre of Copiapo. It is adjacent and to the east of
Bridgeport's Rosario, Tamara and Soesmi properties and is located
in a similar geological environment. Copper oxide ores have been
mined from numerous pits on the Simonetta property.
Hugh Snyder, Chairman of Bridgeport stated, "Mineralization on
the Simonetta property confirms the eastward extension of copper
mineralization from Rosario for at least 600 metres and represents
an important step towards consolidating the company's land position
around the Rosario structure."
Under the terms of the agreement with the property owners,
Bridgeport will pay US $1 million over four years to acquire a 100
per cent interest in the Simonetta property of which US $30,000 was
paid on closing. This acquisition is royalty free.
Exploration on the Simonetta property will commence later this
month, as part of the exploration program that the company
undertook last month on its Rosario, Tamara and Soesmi projects. A
drill rig has been contracted to commence drilling in early March
and construction of drill pads has commenced.
About Bridgeport Ventures
Bridgeport Ventures (TSX VENTURE: BPV) is a Canadian mineral
exploration company with operations in Latin America. Its strong
technical team with local experience has a solid record of
discovery and a proven history of mining success. Additional
information on Bridgeport Ventures can be found at:
www.bridgeportventures.net.
Potential quantity and grade are conceptual in nature. To date,
there has been insufficient exploration drilling to define a
mineral resource on the property referenced above, and it is
uncertain if further exploration drilling will result in a mineral
resource being defined in this area.
Certain information set forth in this new release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. There forward-looking statement
are subject to numerous risks and uncertainties, certain of which
are beyond the control of Bridgeport, including, but not limited
to, the impact of general economic conditions, industry conditions,
volatility of commodity prices, risks associated with the
uncertainty of exploration results and estimates, currency
fluctuations, depending upon regulatory approvals, the uncertainty
of obtaining additional financing and exploration risk. Readers are
cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Bridgeport Ventures Inc. Hugh Snyder Chairman and
Chief Executive Officer (416) 350-2173
investorrelations@bridgeportventures.net
www.bridgeportventures.net
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