Looks like Dumont is up to something interesting, I have put it back on my ticker.
G
Dumont Announces Albany Drilling And Torngat Remote Sensing Programs
TORONTO, ONTARIO--Dumont Nickel Inc. (DNI-V, DNI-M) will begin
drilling at the Albany project in late February 2000 (see
www.dumontnickel.com/page2.html). Dumont has completed an
airborne magnetic survey of approximately 4,037 km, which verified
the M4-1 target and the M3-1 targets, previously identified on
vintage provincial surveys. Linecutting will commence immediately,
followed by a ground EM survey of 50-100 km, with drilling
expected immediately afterwards.
Dumont has commenced a remote sensing program at its 233 sq km
property (see www.dumontnickel.com/page4.html.) adjacent to Twin
Gold (TWG-T)'s Torngat diamond exploration property (see
www.twingold.com).
On December 31, 1999, Dumont completed flow-through financing in
the amount of $233,100 through the sale of 222 Units through
private placement in Ontario at a price of $1,050 per Unit, each
Unit consisting of 4,200 Dumont common shares (at a price of $0.25
per share) and 2,100 Warrants, each Warrant entitling the holder
to purchase one Dumont common share at $0.60 per share up to
October 31, 2001. Dumont will incur Canadian exploration
expenditures in the amount of 90% of the subscription price on or
before December 31, 2000 and renounce such expenditures to the
Subscriber with an effective date not later than December 31,
1999.
On August 27, 1999, Dumont announced an agreement to re-acquire
the interest in the Raglan Properties earned by HDG Raglan Limited
Partnership, a limited partnership associated with Hunter
Dickinson Group Inc. ("Hunter Dickinson"), and assigned to 583691
B.C. Ltd. by issuing common shares at a price of $0.601 per share
for 130% of exploration expenditures. Hunter Dickinson Group has
reported that exploration expenditures totaled $2,018,814 and a
final agreement to issue 4,568,700 Dumont common shares, subject
to regulatory approval, has been executed.
Dumont has completed 3 holes totaling 1,715 meters at the Blake
Project south of Thunder Bay under its joint venture with North
Atlantic Nickel. Hole BP-99-4 intersected about 170 meters of
sparsely-mineralized (<0.5% sulphides) rocks; assays are pending
but no significant amounts of Ni, Cu or precious metals are
anticipated in BP-99-4 or the other holes.
Further details on Dumont and its properties may be obtained at
Dumont's website at www.dumontnickel.com.
THIS PRESS RELEASE WAS PREPARED BY DUMONT NICKEL INC., WHICH
ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY
AUTHORITY OR SIMILAR BODY HAS APPROVED OR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Denis Clement
(416) 364-5569
or
Tom Obradovich
(705) 567-6883
or
Steve McIntyre
(416) 368-1013
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