driiling underway and Canna doing a PP for $3MM
Titanium notified of phase 2 drilling in Nova Scotia
Titanium Corporation Inc TIC
Shares issued 31,087,011 Oct 31 close $2.01
Thu 1 Nov 2001 News Release
Mr. George Elliott reports
A phase 2 drilling program has begun at the company's titanium-bearing
heavy mineral sands project located near Truro, N.S. George D. Elliott,
chairman and president, said, "This drilling program will further delineate
our deposit and will evaluate previously untested zones of known
mineralization along the southern and eastern extensions." According to Mr.
Elliott: "The southern extension, as we reported on Jan. 22, 2001, contains
the highest mineral grades confirmed to date and this may indicate a trend
of escalating grade as testing moves a further two kilometres to the south.
Visible tracings have also revealed that the deposit extends approximately
five kilometres into the untested eastern extension."
Titanium Corporation's deposit extends roughly 60 square kilometres (23.5
square miles) along the Shubenacadie River, northward to the eastern
reaches of Cobequid Bay. An independent valuation by Brian Stratford and
Associates, reported that the deposit contained 330,941,945 tonnes of sand
with a grade of 1.94 per cent heavy minerals.
Drilling is being carried out by Maritime Diamond Drilling of Truro, N.S.
The program will consist of 50 to 60 holes which, depending on the depth of
bedrock, will range from four to 15 metres (15 to 50 feet).
All collected core samples from the drill program will be sent to the
Minerals Engineering Center located at Dalhousie University for analysis.
Assay results will be announced in a timely manner.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com |
