Radar Acquisitions Corp -
Radar Acquisitions Colorado survey results
Radar Acquisitions Corp
RAC
Shares issued 8,301,143
1999-09-10 close $4.2
Monday Sep 13 1999
Mr. John Bergen reports
As part of its exploration program, Radar Acquisitions Corp.
obtained ground magnetic surveys and airborne magnetic
surveys to delineate the heavy mineral zones of its joint
venture properties in Colorado, U.S.
Ground magnetic survey
Twenty-five ground magnetic lines were surveyed across the
main trend. Based on favorable results, ground magnetic data
was collected north of the known trend. Drill holes were
spotted on the strong magnetic response to ensure intersecting
the heavy minerals, then fences were drilled across the zone.
Based upon the success of the drilling program, guided by the
ground magnetic survey, Radar had its joint venture partner,
River Bend Exploration Inc., obtain a airborne magnetic
survey of the area of interest, including the exploration area.
Airborne magnetic survey
The airborne magnetic survey was over an area of
approximately 2,700 square miles. Interpretation of the
airborne magnetic data was provided to the joint venture by
Kenco Minerals of Colorado.
Results of magnetic surveys
Interpretation of the airborne magnetic data north of the main
trend indicates an additional strike length of 10 to 14 miles
and seven miles of strike length to the south.
The airborne magnetic survey indicates that there are trends of
heavy minerals in the Titanium Ridge trend, although it is
considered that further ground magnetic geophysics and
drilling data will be required. This trend has a potential strike
length of 20 miles, although, because these trends consist of
barrier islands, the mineralization may not be continuous.
The location of the heavy mineral resource is confirmed by the
ground magnetic survey, the airborne magnetic survey and the
drilling program.
The drilling program indicates that the exploration area
(approximately three square miles) contains approximately 20
million tons of inferred heavy mineral resource. As previously
announced, 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 amount of approximately 20 million tons of inferred heavy
mineral resource set forth in the preceding paragraph is
derived from the supplemental report on the heavy minerals
deposit prepared for the joint venture in August of 1999 by
TS2 Consulting Inc. (Anthony G. Speed, professional
engineer). The resource estimate is shown in a separate
volume to the report.
The airborne magnetic survey indicates additional magnetic
anomalies over an area of approximately 800 square miles,
some of which are 10 to 20 miles long. The results of the
airborne magnetic survey demand a further exploration
program which Radar intends to start approximately Oct. 1,
1999.
The results of the bulk sample analysis will be released as
soon as it is received from Carpco Laboratories which Radar
expects to be in the near future.
The company's latest information indicates that the feasibility
study will be released sometime in October, 1999.
Other than the foregoing there are no other material changes to
the business or operations of Radar.
(c) Copyright 1999 Canjex Publishing Ltd.
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