Bell Resources options half of Bryan Lake to Zappa
Zappa Resources Ltd ZPA
Shares issued 19,037,256 Nov 12 close $0.07
Tue 12 Nov 2002 News Release
See (BL) News Release
Mr. Brian Leeners of Bell Resources reports
BELL OPTIONS BRYAN LAKE PROPERTY
Bell Resources has entered into an option agreement with Zappa Resources,
whereby Zappa can acquire a 50-per-cent interest in Bell's Bryan Lake
property located approximately 30 kilometres east of Flin Flon, Man. The
Bryan Lake property consists of eight claims totalling 882 hectares and is
adjacent to Bell's Cleaver Lake property where a new high-grade copper-gold
zone was discovered in late 2001.
The Cleaver Lake discovery coincides with a clearly defined "SPECTREM"
proprietary airborne survey flown by Hudson Bay Mining and Smelting and
also with Bell's ground VLF-EM survey. The discovery is exposed over a
width of seven metres and for a similar distance along strike before
disappearing into a swamp. It assays 4 per cent Cu and 0.55 to 0.75 gram
per tonne (g/t) Au over its full width. The discovery is located within a
brecciated rhyolite unit, and is characterized as massive to semi-massive
sulphides and has a similar signature to many of the mineral bodies in the
Flin Flon camp. Additional high-grade copper-gold mineralization within a
rhyolite unit and also associated with a significant VLF-EM anomaly occurs
200 metres to the west. At this second locality, the copper mineralization
found in trenches, assayed 4 per cent Cu and one to six g/t Au.
The terms of the Bryan Lake option agreement call for Zappa to make
payments and to undertake work commitments as follows:
Payment of $5,000 and 100,000 shares immediately, with a work commitment of
$25,000 by Nov. 30, 2002;
$5,000 and 100,000 shares by June 1, 2003, with a work commitment of
$30,000 before May 31, 2004;
$5,000 by June 1, 2004, with a work commitment of $45,000 before May 31,
2005;
$5,000 by June 1, 2005, with a work commitment of $50,000 before May 31,
2005; and
$32,500 by June 1, 2006.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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