TITANIUM CORPORATION INC.- The Next Major Mining Play Message Board

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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play

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To: Winzer who wrote (267)	8/23/2000 10:22:42 AM
From: Winzer	Read Replies (1) of 343

Today's NR sounds like we're headed in the right direction: NAR receives titanium seismic survey results NAR Resources Ltd NRL Shares issued 7,838,202 Aug 21 close $2.73 Wed 23 Aug 2000 News Release Mr. George Elliott reports NAR Resources has received positive results for the recently completed seismic survey of its large titanium-bearing heavy mineral sands project located near Truro, N.S. The company has earned an undivided one-third interest in the project from its joint venture partner, Titanium Corporation of Canada Ltd. The survey, which was conducted by Canadian Seabed Research of Nova Scotia, was commissioned to assist in the determination of the thickness of the deposit and in the prioritization of deep drilling targets. The seismic survey coverage was divided into two zones: (1) the sand bar deposits along the Shubenacadie riverbed which was traversed for 13.2 kilometres (8.25 miles) upstream and (2) the wide delta deposit at the mouth of the river in Cobequid Bay. The seismic survey covered roughly 55 per cent of the known extent of the depositional basin. Readings along the riverbed confirm the strong influence of the Bay of Fundy regional tidal force on the thickness of the deposit. As expected, the sand deposit is of variable thickness and is constantly shifting depending upon its location in relation to the strength of the tide and proximity to the water channels. The deposit thickens downstream with attained readings as deep as 12 metres (39 feet). The delta deposit in the Cobequid Bay is not as affected by the tide and is therefore relatively more uniform in depth. The average thickness of the delta deposit is 10 metres (32 feet) with some areas reaching 18 metres (58 feet). Previously, NAR Resources drilled 395 vibracore holes to a maximum depth of five metres. The drilling covered 10.08 million square metres (12.6 million square yards) of exposed surface expression and yielded titanium-bearing heavy mineral concentrations from 2 per cent to 20 per cent (refer to press release Nov. 4, 1999). If the drilled area were multiplied by an average thickness of 10 metres (32 feet), the project would contain an estimated minimum of 100 million cubic metres (131.58 million cubic yards) of titanium-bearing heavy mineral sands. Based on previous drilling coupled with the current seismic survey results, the company is more than satisfied that the potential for large tonnage of titanium-bearing heavy mineral sands is excellent. To further bolster and raise the level of confidence in evaluating the deposit, the company is mobilizing a crew in preparation for a deep drill program. A platform-mounted sonic drill on a hovercraft developed by the United States Geological Survey (USGS) has been selected for the program. This drill is capable of penetrating down to 30 metres (97 feet) and extracts 10 centimetres (four inches) diameter undisturbed core samples. Drilling is expected to begin at the end of September. WARNING: The company relies on litigation protection for "forward-looking" statements. (c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com

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