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Gold/Mining/Energy : Kalahari Resources Makes Major Move Upwords
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To: kfdkfd who wrote (342)9/26/1999 2:18:00 PM
From: kfdkfd  Read Replies (1) of 349
 
The company also has extensive land holdings in Canada's Northwest
Territories. To date, the region has not been kind to SouthernEra's
exploration efforts, however. The Back Lake joint venture continues
exploration at Munn Lake, but currently without the financial participation
of SouthernEra. The estimated $750,000 program continues to explore the
kimberlite sill discovered early this year. The main thrust of the current
campaign consists of a 10 to 15-hole drill program to define the strike and
down-dip continuity of the kimberlite sill, and to determine its thickness
on both the northern and southern shores. Upon completion of this work,
SouthernEra's interest would be diluted to 60 per cent, down from the
current 70 per cent mark. As well, the company appears to have withdrawn
completely from the MacKay Lake program, having written down its $3-million
investment with the statement that it plans no further work on the property
in the near future.
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