October 5, 2000
NEWS RELEASE
Royce Group Diamond Project, NWT - Update
GMD Resource Corp. (the “Company”) reports that the Summer 2000 field program on the Royce Group Diamond Project situated 150 km north northwest of Yellowknife, NWT has been completed. A total of 1,509 till samples were collected on the property and all samples have been shipped to the De Beers Canada Exploration Inc. (formerly Monopros Limited) processing facility. Results from the Summer 2000 till sampling program will determine areas to be considered for follow up detailed airborne geophysical surveys, followed by specific target selection for drilling during the 2000/2001 winter.
As previously reported, indicator mineral trains identified on the Royce Group Property are being followed up. De Beers Canada Exploration Inc. may acquire a 51% interest in the property by incurring not less than $16,000,000 in four sequential programs by April 30, 2004. The Phase Two Program (May 2000 – April 2001) expenditure is budgeted at up to $1,500,000.
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 |
