InterAmerican Resources, Inc. Announces Exploration Drilling Permits Received
MIAMI, Oct 23, 2001 (BUSINESS WIRE) -- InterAmerican Resources, Inc. (OTC:IAMR) wholly owned subsidiary, Sovereign Resources, Inc. reported that it has received the necessary permits to begin an exploration drilling program at its porphyry copper-molybdenum project.
The Company has signed a contract with a diamond drilling company for an initial 3,000 foot core drilling program; equipment and personnel are being mobilized, and drilling is expected to begin within the next few days.
The core-drilling program will test targets believed to be fault-offsets to the known ore deposit. Results of the drilling program should also help establish the relative levels of silver and gold by-product credits in the Cu-Mo porphyry system, as well as provide an initial indication of the potential additional tonnages present in the fault-offsets to the original deposit.
The Company has also retained an independent consultant to monitor core drilling, sampling, assaying and chain-of-custody practices related to the exploration program. IAMR will update shareholders as these reports are received.
ON BEHALF OF THE BOARD
Allan Smith President
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the proceeding discussion, the words "plan," "confident that," "believe," "expect," or "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for, and delays in the start of production, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks described in the company's SEC reports and filing.
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com |
