Samarkand has just acquired a new property, which has been shown to have excellent gold and silver values. Here's its news release:
CONSOLIDATED SAMARKAND RESOURCES INC.
July 7, 1997
Shares issued: 16,807,591
Vancouver Stock Exchange: SKC-V
News Release #17- 97
Standard and Poor's Record
12g3-2(b) Exemption: 824126
NEWS RELEASE
Mexican Gold Silver Project Acquisition,
La Dejada Project, Sinaloa State, Mexico
Consolidated Samarkand Resources Inc. (Samarkand) through its wholly
owned Mexican subsidiary, Samarkand de Mexico S.A. de C.V (Samarkand
Mexico) is pleased to announce the acquisition of another Mexican
project located 22 km east northeast of Culiacan, the state capital of
Sinaloa.
The La Dejada Project contains the majority of a large 3 km long by up
to 250 meters wide gossan and silicified zone. Preliminary rock
geochemical sampling results, obtained during Samarkand's due diligence,
shows a large multi-element surface anomaly in gold and silver covering
an area of approximately 500 x 200 meters within the large gossan and
silicified zone. The anomalous area is open to the north and further
sampling is required to identify the true size of the Au-Ag anomaly.
Significant geochemical results from rock samples are as follows.
Sample No. Type * Au g/T Ag g/T Sample No. Type * Au g/T Ag g/T
2 A 0.775 53.4 LD4A A 0.565 27.4
3 A 0.300 7.8 LD11A A 0.490 1.2
5 C-1 m 27.90g 117.0 LD13A A 0.290 38.6
7 B 0.140 27.0 LV3 B 0.115 43.8
LD02 A 61.58 32.8 LV4 B 0.105 25.2
LD03 A 1.60 4.6 LV5 B 0.485 25.8
LD04 A 1.00 21.6 LV6 B 0.410 10.6
LD05 A 4.06 144.0 LV15 A 0.475 4.0
LD08 A 0.990 16.6 LDM97001 B 0.210 21.8
LD2A A 4.480 182.0 LDM97005 B 0.460 2.2
LD3A A 183.30 71.4 LDM97076 A 0.200 6.0
LDM97183 C-15 m 0.825 18.8
Sample type * A donates subcrop or float material, B donates outcrop
grab sample, C donates chip sample + width.
All of the above samples consist of very strongly silicified and
brecciated andesite. Alteration, silica flooding and mineralization
are strongly indicative of a large epithermal system occurring on the
property.
Samarkand intends to conduct an aggressive exploration program
consisting of bulldozer trenching, detailed geochemical sampling,
induced polarization geophysical surveying and drilling. This program
will be designed to test the property's potential to host a bulk tonnage
gold-silver deposit suitable for heap leach recovery methods.
The La Dejada Project consists of 3 claims totaling 960 hectares. One
claim was acquired by staking while the others are the subject of
certain agreements.
The La Dejada claim has been acquired by way of an option agreement
whereby Samarkand Mexico will earn a 100% interest, subject to a 1.5%
Net Smelter Return (NSR) royalty by making the following cash and share
payments.
Upon VSE approval of the agreement 6,500.00 (5,000.00 paid) $USD
August 27 1997 13,500.00 $USD
February 20 1998 30,000.00 $USD
February 20 1999 60,000.00 $USD
February 20 2000 170,000.00 $USD
Upon a positive feasibility study recomending the property be put into
commercial production 150,000.00 $USD
Samarkand will issue a total of 200,000 common shares under the
following schedule:
VSE approval of agreement 50,000 shares
Completion of a phase one exploration program 50,000 shares
Completion of a phase two exploration program 50,000 shares
Completion of a phase three exploration program 50,000 shares
Samarkand Mexico has the option to purchase 0.75% of the NSR royalty
from the vendor for $200,000.00 USD.
The Gavilanes claim which covers the northern extension to the zone has
been acquired by way of an irrevocable promise to contract. The terms
of the agreement for Samarkand Mexico to acquire a 100% interest,
subject to a 1% NSR royalty payable to the Vendor are as follows;
Upon completion of formal agreement 10,000.00 $USD
1st anniversary date of formal agreement 20,000.00 $USD
2nd anniversary date of formal agreement 40,000.00 $USD
3rd anniversary date of formal agreement 130,000.00 $USD
Samarkand proposes to pay a finders fee either in shares and/or cash to
an arms length finder, in respect of this transaction. The finders fee
will be calculated in accordance with the rules and policies of the
Vancouver Stock Exchange.
The above acquisition is subject to the approval of the Vancouver Stock
Exchange.
For further information please contact the Company directly at (604)
684-8071 or visit our web site at samarkandvse.com.
On behalf of the Board of Directors of
CONSOLIDATED SAMARKAND RESOURCES INC.
"Ralph Shearing"
Ralph Shearing
President
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this Release.
Box 11569 Suite 450-650 West Georgia Street, Vancouver, B.C., Canada
V6B 4N8
Telephone: 604-684-8071 Facsimile: 604-684-3829
URL: samarkandvse.com
e-mail: info@samarkandvse.com |
