Radar Acquisitions Corp -
Radar Acquisitions Colorado drilling results
Radar Acquisitions Corp
RAC
Shares issued 8,301,143
1999-07-27 close $3.25
Wednesday Jul 28 1999
Mr. John Bergen reports
As reported in Stockwatch Sept. 23, 1998, and Dec. 8, 1998,
Radar Acquisitions undertook a drilling/exploration program
on properties leased by its joint venture partner, River Bend,
near Limon in Albert county, Colo.
The leases for this joint venture cover approximately 25,000
acres. The exploration area consists of approximately 1,900
acres.
The overall heavy mineral content of the total sample in the
exploration area has been determined at 10.6 per cent by
weight, although the composition of this 10.6 per cent has not
yet been determined.
The drilling program consisted of a ground-based
magnetometer survey and auger drilling.
Profiles of the exploration area were run using the
ground-based magnetometer survey and targets selected for
follow-up drilling. In the exploration area, 5,300 feet of auger
drilling was completed.
Eighty wells were drilled where indicated within the
parameters of the magnetometer survey. Samples from the 80
wells were gathered on a hole-by-hole basis, with every 2.5
feet being sampled. These samples were submitted to Loring
Labs in Calgary, Alta., for sink-float determination of the
heavy minerals content. Subsequently, composite samples of
the heavy mineral component were submitted to XRAL Labs
in Toronto, Ont., and the Mineral Lab in Denver, Colo.
Radar requested that these laboratories determine the rutile,
ilmenite, zircon and garnet composition, as well as other trace
elements, using X-Ray diffraction and X-Ray fluorescence.
In addition to the foregoing, a bulk sample has been compiled
and has been sent to Outokumpu Technology Inc. (Carpco
Laboratory Division) in Jacksonville, Fla., for the
determination of the most appropriate flow sheet for
separation of the heavy minerals. Results of this will be
announced when received.
Other than the foregoing there are no other material changes to
the business or operations of Radar.
(c) Copyright 1999 Canjex Publishing Ltd.
canada-stockwatch.com
It is very interesting for comparison to note that:
1. Consolidated Rutile Ltd. is mining a titanium project on Stradbroke Island, Australia having a heavy mineral content of 1%.
2. Dupont has mined a titanium project in Florida for the past 50 years having a heavy mineral content of 2-3%.
3. In Tennesse Altairs Camden is mining a titanium property having a heavy mineral content of 3.5%
4. In the Congolene area of Mozambique a titanium property with a heavy mineral content of 2.8% is being mined. |
