ATLANTA, Oct. 12, 2010 (GLOBE NEWSWIRE) -- OTC Stock Review announces it has initiated coverage of Eaglecrest Explorations Ltd. (TSX-V:EEL) (Pink Sheets:ECRTF) (Frankfurt:EAT), a gold exploration company which has an option on the 150 square kilometer Fredonia project area in the prolific Central Cordillera gold belt in northwest Colombia. Eaglecrest recently announced an additional option to acquire a 75% interest in the mineral title of the 19 square kilometer Venecia Project, also in northwest Colombia, where outcrops have yielded gold assays up to 3.8 grams per tonne. Additionally, Eaglecrest owns 100% of 120 square kilometers of mineral title at the San Simon Gold Project in northeastern Bolivia. Eaglecrest is initiating exploration work in Colombia and has identified three areas at San Simon with open-pit and underground gold resource potential.
As far as mining is concerned, Colombia is a hotbed, and Eaglecrest is there. Colombia has produced about 94 million ounces of gold and was once the largest gold producing country in South America. Colombia is the least explored of the mineral rich Andes Cordillera, even though most major mining companies have a presence there. In 2010, Colombia was rated the 7th best mining jurisdiction by Behre Dolbear, up significantly from 2009. Colombia has a pro-mining government, promoting rapid growth and is ranked highest in Latin America for Investor Protection and 5th in the world by the World Bank. With a modern infrastructure and skilled workforce, investors are showing a great deal of interest in companies with properties in Colombia. In our opinion, Eaglecrest Explorations will give investors reason to celebrate once results from its projects in Colombia start to come in.
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