To all,
DRILLING RE-COMMENCED AT VOISEY'S BAY
CALGARY, May 5 /CNW/ - ABSOLUT RESOURCES CORP. (ALR-ASE) has been advised by Landtech Drilling Services Inc. that the drill (which was damaged by fire on April 6) has been repaired and drilling recommenced Saturday, May 3, 1997. Drilling on Absolut's 100% owned claim block N was suspended at approximately 3,800 feet (1,150 meters). Based on the presence of a large section of Nain Othogneisses in the drill core, in addition to a variety of gabbro and ultra mafic rocks, it can be concluded that the stratigraphy could be suitable to host the Voisey's Bay type nickel/copper/cobalt sulphides.
Absolut wishes to advise that approval has been obtained from the Alberta Stock Exchange to extend the expiry date of the Warrants currently trading on the ASE from June 15, 1997 to July 10, 1998. The exercise price of the Warrants remains the same at $3.50. All other terms and conditions of the Warrants are unchanged.
The Alberta Stock Exchange has neither approved or disapproved the
information contained herein.
-0- 05/05/97
For further information: Linda Falkenberg, Absolut Resources Corp., (403) 262-8635
From Canada Newswire newswire.ca |
