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Recent report from ELRA
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Elray Resources, Inc. (OTC.BB:ELRA), a global exploration and production mining company with a portfolio of valuable properties, is pleased to provide the following information on the three main types of gold veins that have been identified to date in the district:
1. Veins of quartz with pyrite disseminated, clorite of lesser importance
with stripes, bands and patches.
2. Veins of quartz with abundant pyrite and little calcopyrite, the lead
ore and esphalerite are present as bands, patches and thick
disseminations.
3. Carbonate veins with a thick gangue of calcite and calcite-quartz, at
times with lead ore, esphalerite and thick clorite located at one side
of pyrite.
As a general rule, gold is present as fine particles, smaller than size of a mesh No. 100. Locally the mineralization of gold is present in the wallrock in the northeast area of the faults and fractures trace.
Ecuador’s mineral wealth is second only to its oil wealth. Until now, mining has been relatively scarce in Ecuador because most mining potential resided in the ecologically sensitive and remote Amazon rainforest. Recent new mining laws have opened the door for foreign companies to allow for sustainable, environmentally controlled exploration and development of globally accepted mining standards.
About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia and South America. Elray Resources, Inc.’s primary objectives are to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company’s expectations, objectives, anticipations, plans, hopes, beliefs, intentions, or strategies regarding the future. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with gold & precious mineral exploration, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company’s financial results is included in its filings with the Securities and Exchange Commission.
Contact:
Investor Relations:
Barry Duane
Phone: 877.379.ELRA (3572)
www.elraymines.com
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