Starpoint Goldfields Inc STS
Shares issued 6,444,175 Jun 17 close $0.22
Wed 18 Jun 97 News Release
Mr Harry Bristman reports
An option agreement has been signed with African Fields Ltd of Kampala,
Uganda to acquire 80% of SEPL 4223, a mining license which covers 194 sq km
and is 20km NNW of the city of Mbarara, Uganda. The target minerals being
explored but not limited to, are epithermal gold, quartz stockworks with
gold, and gold-quartz veins near granite contacts. This area has a history
of local mining and is an active placer area.
Starpoint agrees to pay the sum of $45,000 upon signing this agreement and
a further payment of $45,000 within 180 days from the signing date.
Starpoint will commit to a two phase exploration program. Phase one will
begin within one year and will include detailed sampling, assaying and
assessment. Upon receipt of a favourable geological report Starpoint
Goldfields will issue African Fields 300,000 shares.
This acquisition strengthens Starpoint's goal of acquiring valuable
properties with potential for production.
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