Canadian Company Press Release
BAN 2000-01-11
Band-Ore Resources Ltd. and Southern Africa Minerals Corporation: Quebec Diamond Hunt
BURLINGTON, ONTARIO--Band-Ore Resources Ltd. (BAN.T) and Southern
Africa Minerals Corporation (SAF.T) jointly announce that they
each have acquired a 50% interest (total 100%) in mineral
exploration permit 1504 located on the east side of Ungava Bay,
in northern Quebec. The 89.5 square Km property is situated
approximately 10 Km south of the new diamond discoveries announced
by Twin Gold Corp. (TWG.T) in October and December,1999. The
permit was acquired based on information obtained from a
preliminary structural analysis of the area using satellite
imagery. The project covers similar structures known to exist on
the Twin Gold and neighbouring properties in the area.
Band-Ore and Southern Africa are participating in a detailed
structural study of the area using modern satellite imagery
including Landstat TM, SPOT panchromatic images, aeromagnetic data
and digital elevation data to map structural controls on the
property. The costs of the program will be shared with other
companies in the area and Marum Resources Inc. (MMU.V) who have
kindly spearheaded the acquisition and analysis of the satellite
data.
The area has been spotlighted by the latest announcement of Twin
Gold Corp. on December 7,1999, when the company released the
results of the diamond analysis of a 109.8 Kg kimberlite sample
that yielded a high diamond count of 214 diamonds of which 44 were
macrodiamonds (greater than 0.50mm in one dimension) including 8
diamonds that exceeded 1.0 mm in one dimension. The sample from
the Torngat # 1 dyke averaged nearly 2 stones per kilogram of
kimberlite which rival the early diamond counts of Winspear
Resources' dyke (WSP.V) in the Northwest Territories.
Band-Ore and Southern Africa are listed on the Toronto Stock
Exchange and are both sufficiently financed to carry out the
exploration programs on a 50/50 basis. Both companies will use the
consulting services of diamond expert, Bill Jarvis, to evaluate
the exploration programs.
THE PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD. WHICH
ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY
AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
/T/
Email: bandore@wwonline.com Website: www.band-ore.com
Samc@southernafrica.net www.southernafrica.net
/T/
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Wayne O'Connor
(905) 319-7469
or
Denis Francoeur
(905) 319-8019
|
