Another area play announced today Aug 16/00.
CROWFLIGHT MINERALS INC. ("CML-V") MILLSTREAM MINES LTD. ("MLSM-Z") - Crowflight Increases Sudbury Property Portfolio by Optioning - Airport Property From Millstream Mines Ltd.
James M. Brady, President & CEO of Crowflight Minerals Inc. announces that Crowflight Minerals Inc. and Millstream Mines Ltd. have entered into an agreement whereby Crowflight can earn, subject to regulatory approval, an undivided 50% interest in the 46-claim Airport Property in the Sudbury Mining Camp. The property, located on the eastern side of the Sudbury basin structure in Falconbridge Township, is in an area where deep exploration has outlined high grade Ni/Cu/Co + Platinum Group Metal values. Inco''s rich Victor deposit is located some 3 km along strike to the northwest.
Previous surface exploration on the Airport property discovered sulphide mineralization with low copper, nickel and gold values. Areas of sulphide-bearing Sudbury Breccia, a favourable ore host, are present in the northern part of the property.
The option agreement, which is subject to regulatory approval, permits Crowflight to earn a 50% interest by making cash payments totaling $100,000, issuing 200,000 shares and incurring exploration expenditures of $1.0 million over a 2 year period. Crowflight is committed to a 6-month Phase 1 program requiring a $25,000 cash payment, the issuing of 50,000 shares and completion of a $150,000 exploration program which will include approximately 1,700 m of drilling. Upon the completion of Phase 1, Crowflight can elect to either continue or terminate the option.
A finders fee of 20,000 Crowflight shares is payable to Ian Brodie-Brown upon approval of this transaction. TEL: (416) 368-0114 Dr. James M. Patterson, Vice President, Exploration FAX: (416) 368-0198 Crowflight Minerals Inc. Internet: www.crowflightmineralsinc.com e-mail; jbrady@hornbybay.com
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