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Gold/Mining/Energy : Zappa Resources ZPA vancouver
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To: Alan Whirlwind who wrote (3015)7/21/2002 8:25:23 PM
From: gmweber  Read Replies (2) of 3198
 
Zappa to option Bell's Bryan Lake property

Zappa Resources Ltd ZPA
Shares issued 19,037,256 Jul 19 close $0.04
Fri 19 Jul 2002 News Release
Also (BL)
Mr. Albert Gerry of Zappa Resources reports
Zappa Resources has entered into an understanding with another junior
exploration company whereby Zappa can earn 50 per cent of the Bryan Lake
property by issuing 200,000 shares, completing a private placement in the
junior company, a $150,000 work program and property payments totalling
$52,500 over a four-year term. The Bryan property is of interest because it
contains common magnetic anomalies on its southern border with the Cleaver
Lake property that correspond with new surface showings of gold and copper.
Zappa has recently returned from a site visit and was encouraged with the
physical surface geology. Independent assaying is being done for Zappa of
the showing's grab samples. The property is in the Flin Flon mining camp of
Manitoba and within 17 kilometres of the town's smelter.
The joint venture agreement is subject to further due diligence and
regulatory approval where required.
Zappa has closed on its sale of the La Plata massive sulphide property in
Ecuador as it previously announced for $200,000 (U.S.). Zappa has amended
its agreement with International Minerals to convert its 2-per-cent royalty
in the Ponce Enriquez gold camp also located in Ecuador to 125,000 shares
of International Minerals common stock. These shares will be held for one
year before becoming free and tradable. Both Ecuadorian transactions were
given shareholder approval at Zappa's annual general meeting held June 5,
2002.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com
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