Band-Ore Resources Ltd. - Ontario Diamond Project-GQ Property
Burlington, Ontario --
S.E.C. EXEMPTION #82-4233
SHARES: 22.9 MILLION
WEBSITE: band-ore.com EMAIL: bandore@wwonline.com
Band-Ore Resources Ltd. advises that a 50-metre line spacing
helicopter magnetic survey has commenced on the 25-sq.-km. GQ
diamond property located in Musquash Township, 15 km. north of
Wawa, Ontario. In February of this year the Company announced a
new diamond discovery that yielded 10 macrodiamonds and 35
micordiamonds from a 63.4 kg. sample. The purpose of the airborne
survey is to better define at least 10 bulls-eye circular
magnetic anomalies that were outlined on a previous government
airborne survey. The high-resolution data should also identify
other magnetic anomalies and dike structures that are known to
exist on neighbouring properties. Canabrava, Navigator and
Kennecott are currently conducting drilling programs on these
properties.
Upon completion of the helicopter magnetic survey, a detailed
stripping, mapping and sampling program of two diamondiferous
outcrops will commence, along with mapping and sampling of the
other anomalies.
Quebec Diamond Project-Torngat South Property
Band-Ore Resources Ltd. further advises that a fixed-wing
airborne magnetic survey will commence imminently on the
89-sq.-km. Torngat South diamond property located approximately
10 km. southeast of Twin Gold's (TWG.T) diamond-bearing dikes.
Preliminary analysis of the remote sensing and previous airborne
data suggests that several structures crosscutting the geological
horizons are present on the property. These features are
important as Twin Gold's diamondiferous dikes crosscut similar
geological horizons. Preliminary analyses of past airborne
surveys indicate the presence of circular magnetic anomalies on
the property. The airborne survey, which will be completed before
the end of the month, should clearly identify these anomalies and
structures.
The airborne survey is a combined effort in cooperation with
Marum Resources (MMU.V) and Dumont Nickel Inc. (DNI.M) in order
to achieve a cost-efficient program. The Torngat South property
is a 50/50 joint venture with Southern Africa Minerals
Corporation (SAF.T).
Band-Ore Resources Ltd. is a diverse Canadian exploration company
with two diamond projects, a platinum/palladium property west of
Thunder Bay, Ontario and two gold deposits in Northern Ontario.
Band-Ore is well financed, with over $1.0 million in the treasury
after Officers and Directors recently exercised stock options
totaling approximately $418,000.
For Further Information Please Contact:
Wayne J. O'Connor, President & CEO, Band-Ore Resources
Tel: (905) 319-7469
Olav Svela or Cathy Hume, Investor Relations, Hume, Kieran
Inc. Tel: (416) 868-1079
If you wish to receive press releases via email, please advise
Stefanie Thompson (stefanie@humekieran.on.ca). |
