Company Information for Coastport Capital Inc

Company stock charts - 12 Month chart

TSX.V; CPP View full financial data

Company Statement

Coastport Capital Inc. (TSXV: CPP) is a Canadian based exploration company. The Company currently has two projects, both located in Ecuador: the Shyri gold/silver Project and the La Plata VMS Project.

Ecuador is considered an emerging exploration opportunity. The 1990's exploration boom seen throughout much of Latin America was not enjoyed by Ecuador. However, Ecuador's recently revised and now favourable mining laws, stable political environment and world-class mineral potential, as evidenced by recent discoveries such as IAMGOLD Corporation's Quimsacocha Deposit, and Aurelian Resources' Fruta Del Norte discovery, have changed that.

Coastport is now on the leading edge of an emerging country play.

Current Operations

SHYRI PROJECT
Coastport has signed an earn-in/option agreement with Cornerstone Ecuador S.A., a wholly owned subsidiary of Cornerstone Capital Resources Inc., to acquire a 100% interest in the Shyri Gold Project in southern Ecuador. The Shyri Project covers highly prospective areas contiguous to IAMGOLD's Quimsacocha Project. Numerous target areas, with potential for both high and low sulphidation-type gold deposits, locally returning bonanza grades, have been outlined on the Shyri Project. The recent discoveries of the Quimsacocha deposit and Aurelian's Fruta Del Norte discovery highlight the region's potential.

The $US1.5 million first year program will include systematic grassroots exploration and development of drill targets as well as diamond drill testing of several existing targets.

The Shyri Project, collectively more than 450 km² in area, straddle the Gañarin Belt, a 50 km long feature with volcanic centers, related intrusives and numerous epithermal gold-silver prospects. IAMGOLD's Quimsacocha Project is the most advanced project in the belt.

Reconnaissance exploration work by Cornerstone began in April, 2005 resulting in the discovery of numerous low and high sulphidation type epithermal gold-silver targets. Five target areas referred to as the Cañaribamba, Gran Muralla, GAMA, LAMA and Yanasacha have been identified. The highlight of recent saw-cut channel sampling at Cañaribamba was a 4.4 m interval of 32.2 g/t Au and 40.5 g/t Ag.

Geographical Spread

Ecuador

Board of Directors and Key Management

Related News

Most Recent Statement