GMD RESOURCE CORP.
Suite 1650 - 999 West Hastings Street, Vancouver British Columbia V6C 2W2
Telephone: (604) 662-3350 Facsimile: (604) 669-1605Toll Free: 1-800-808-3350 E-mail: gmdgeo@portal.ca
CDNX Symbol - "GMD"
U.S. 12g3 Exemption #82-4071
News Release No. 228
July 6, 2000
NEWS RELEASE
Royce Group Diamond Project, NWT - Update
GMD Resource Corp. (the "Company") reports that the Phase 2 Summer Program on the Royce Group Diamond Property situated 150 km north northwest of Yellowknife, NWT has commenced. Monopros Limited is the operator of the property. Monopros may earn a 51% interest in the property by incurring not less than $16,000,000.00 in four sequential programs by April 30, 2004. Phase One (May 1999 - April 2000) was completed at a cost of approximately CDN $1,500,000.00 and Phase Two (May 2000 - April 2001) expenditures will also be up to $1,500,000.00.
The Spirit Lake Camp situated in approximately the middle of the claims was reopened the week of June 19, 2000. The camp consists of twelve people including 7 samplers, surficial geologist, support personnel and the project geologist. The Phase Two Summer Program will consist of the collection of up to 1,500 till samples plus detailed surficial mapping to assist in the definition of the up ice limitations of the various developing indicator trains previously announced. The till sampling program will initially focus on approximately 250 samples in the high priority developing trains so that processing and follow up can be carried out prior to freeze up. The chemistry results from the year 2000 Summer till sampling program will determine anomaly specific detailed airborne surveys which will be conducted next winter with drilling to follow upon target selection.
For further information please contact Investor Relations at (604) 669-6619 or 1-800-808-3350.
GMD RESOURCE CORP.
"Linda Dezura" for
Rodney N. Duncan
President |
