RE: Dia Met Minerals Ltd. - "Homerun Project" - Victoria Island Diamond Play
DIAMET MINERALS LTD joins the "Homerun Project" - Victoria Island Diamond Play Area. HAWKEYE is providing an excerpt from Dia Met's news release hereunder, however, to read a full version of their August 26, 1999 news release go to www.diamet.com/version2/press.html
For further information and claim maps on the Victoria Island Diamond play go to our web site at www.hawkeyegold.com/prop/properties.html and click on the diamond entitled "Homerun" Diamond Project - Victoria Island, Nunuvut" for the YANKEE Property or contact the Company Corporate Communications department at 1-800-665-3624.
Thank you.
Hawkeye Gold International Inc. (HGO-V)
Greg Neeld
President
Excerpt from Dia Met Minerals Ltd August 26, 1999 news release
Dia Met Minerals Ltd. has reached a substantial property agreement with partners Major General Resources Ltd. and Ascot Resources Ltd., covering a portion of their extensive land holdings on Victoria Island, Nunavut. Dia Met may earn a 51 percent interest in the properties by expending a total of $7 Million over 5 years and making a one time cash payment of $32,500 on closing.The properties optioned by Dia Met consist of 3 separate blocks of staked claims and Prospecting Permits totalling 2608 square kilometres or 644,300 acres. One of the properties, the Mariner Group totalling 651 square kilometres or 161,000 acres, is presently held in a 50:50 partnership between Major General and Ascot, while the other properties are wholly owned by Major General.The Table, below, shows the ownership, sizes, earn-in expenditures required and resulting equity ownership if Dia Met vests its interest in these properties.
The Mariner and Homerun Properties have been staked and permitted by Major General Resources and, in part, by Ascot Resources since the announcement of nearby kimberlite discoveries in 1998. These properties are adjacent to and partly surround the discovery claims held by the Monopros/Major General/Ascot joint venture. The five diamondiferous kimberlites, announced in late 1998, contained micro-diamond results ranging from 1 micro/100kg to 102 micros/100 kg.The success of Dia Met's diamond discovery at Lac de Gras leading to the operating Ekati Mine clearly establishes their expertise at diamond exploration. Dia Met will be the operator of the project and, to this extent has commenced field operations with a crew of 12-15 people on site.The field program for the short season remaining consists mainly of glacial till and esker sampling in areas considered as high priority. Some detailed, low level aeromagnetic surveying over several selected areas is also being considered and quotes have been obtained.The agreements are subject to the approval of the various Boards of Directors.
Charles E. Fipke, Geologist and Director, Dia Met Minerals Ltd.
The American Stock Exchange, Toronto Stock Exchange and the Vancouver Stock Exchange have neither approved nor disapproved the information contained in this release. |
