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Gold/Mining/Energy : Daren Industries Ltd. DIL
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To: FooFooTheSnoo who wrote ()1/23/2000 10:06:00 PM
From: FooFooTheSnoo  Read Replies (1) of 2
 
Daren negotiating access trail to Hanson Lake
Daren Industries Ltd DIL
Shares issued 2,346,349 2000-01-14 close $0.2
Monday Jan 17 2000

Mr. Joseph Montgomery reports
On Jan. 6, 2000, Foran Mining announced in Stockwatch the securing of environmental approval on a proposed underground test mine at the company's McIlvena Bay deposit at Hanson Lake, Sask. Daren Industries is most interested in this development as Daren holds five quarry leases in this area. The proposed surface camp and underground test mine is approximately 500 metres southwest of Daren's quarry lease No. Y7549. It is expected that 9.5 kilometres of road access to Foran's camp will be created this winter, allowing for access 12 months a year to this area.
Daren is currently negotiating with Foran a memorandum of understanding regarding the construction, access and maintenance of this proposed road. Daren's proposed quarry access trail will join this new Foran road. Daren's surface quarry lease, Y7549, has an estimated 4.2 million tonnes of 20 to 40 mesh sands which are suitable for fracturing oil and gas wells. The current market price for 20 to 40 mesh sand proppants is $100 to $135 per tonne in the Western Canadian sedimentary basin.
Hanson Lake, Sask., has a considerable location advantage over the imposed U.S. sands currently supplying the majority of the sands used at present in the oil and gas industry in Western Canada.
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