GMD RESOURCE CORP.
Suite 1650 - 999 West Hastings Street, Vancouver British Columbia V6C 2W2
Telephone: (604) 662-3350 Facsimile: (604) 669-1605Toll Free: 1-800-808-3350 E-mail: rduncan@helinet.com
CDNX Symbol - "GMD"
U.S. 12g3 Exemption #82-4071
News Release No. 222
February 25, 2000
NEWS RELEASE
Royce Group Diamond Project, NWT Update
GMD Resource Corp. (the "Company") has received an information update on the Royce Group Diamond Property situated 150 km north northwest of Yellowknife, NWT from Monopros Limited, the operator of the property, who may earn a 51% interest in the property by incurring not less than $16,000,000 in four sequential programs by April 30, 2004.
Monopros advises that preliminary kimberlite indicator results from the 1,148 glacial till samples that were collected between July through September, 1999 are being compiled and interpreted. These results will be finalized and merged with the existing database to facilitate target selection and future planning. The indicator minerals selected will be probed at the De Beers facility in South Africa following the completion of sorting.
An airborne helicopter geophysical contract has been awarded to Fugro Airborne Surveys Ltd. and will commence immediately. This geophysical program will provide new geophysical data for claims staked in 1999, and will also provide greater resolution for targets selected for follow-up investigation from a previously flown survey. Targets to be drilled during this winter will be selected from this survey.
Drilling is scheduled to commence mid-March, 2000. The work will be supported from the camp at Spirit Lake situated in the center of the Royce Group.
For further information please contact Investor Relations at (604) 669-6619 or 1-800-808-3350.
GMD RESOURCE CORP.
"Rodney N. Duncan"
Rodney N. Duncan
President |
