Cyber Rock picks CUHL!
Attached is Copperhill's most recent press release. CUHL is likely to be actively trading soon.
December 10, 1997
Joint Venture Agreement, Dart Creek Prospect
COPPER HILL CORP ("CUHL-Z")
- Joint-Venture Agreement, Dart Creek Prospect
Earl R. Benson, President of Copper Hill Corporation is pleased to announce the signing of a Joint-Venture Agreement with First Labrador Resources Ltd., on its 100 percent owned Dart Creek Property ("Dart"). The property consists of 58 claims(3,596 acres) located within 5 km southwest of the Teck-Donner Consortium's Voisey's Bay South exploration area.
The Joint-Venture Agreement calls for First Labrador Resources Ltd. To acquire a 51 percent interest in the Dart property over a one-year option vesting period. Pursuant to the agreement, First Labrador Resources Ltd. must furnish to Copper Hill Corporation a cash payment of $15,000.00 and 250,000 shares of First Labrador Acquisitions (ASE, "FLI") and expend the sum of $150,000.00 in work commitments on the property by December 31st, 1998. This work commitment is to include a
diamond drilling program. When First Labrador Resources Ltd. has earned its 51 percent interest, it will become operator of the project.
Copper Hill Corporation's Airborne Geophysical Survey (reported in Press Release 97-04, November 6, 1997) exhibited coincident magnetic and VLF-EM anomaly trends from the northwest to the southeast of the property. These anomaly trends are corroborated by ground geophysical data from magnetometer VLF-EM and Max-Min surveys previously conducted on the western half of the property.
The property is essentially flat-lying and covered by overburden but with outcrops in the north-west, and south-east. At these locations, prospecting and geological mapping by geologist Wilson Jacobs had noted "dense, olivine gabbro or troctolitic units" (i.e. ultramafic to mafic magmatic). Mineralization at the outcrops consists of highly weathered and oxidized sulfides which have assayed up to 0.23 percent and 0.39 percent nickel, 0.12 percent and 0.22 percent copper; and 0.09 percent and 0.10 percent cobalt.
Copper Hill Corporation is extremely encouraged by these results and with First Labrador Resources Ltd.'s commitment to diamond drill this prospect.
Copper Hill Corporation is a mineral exploration company with properties in Labrador and on the Island of Newfoundland. The total issued and outstanding shares of the Corporation is 15,643,140, including the exercise of 147,500 options (by the former directors at $0.40 per share). Copper Hill Corporation has applied to the Canadian Dealing Network for listing and is expecting the outcome of that review in the near future.
TEL: (709) 739-4780 Earl R. Benson, President FAX: (709) 739-4785 |
