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Gold/Mining/Energy : Mandorin Goldfields MGD.V

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To: JED who started this subject12/19/2002 10:03:02 AM
From: Curious George  Read Replies (1) of 633
 
Great NEWS

Mandorin to license Australian kimberlite sniffer

2002-12-18 14:47 PT - News Release

Mr. Malcolm Stevens reports

MANDORIN EMBARKING ON EXPLORATION FOR DIAMONDIFEROUS KIMBERLI ...

Mandorin Goldfields is preparing to undertake an exploration program for diamondiferous kimberlites.

Continuing the company's desire to focus its mineral exploration activities in First World countries that operate transparent mining legislation, the company has identified a project that fits its geopolitical exploration criteria.

The company has signed a memorandum of understanding to acquire (subject to Canadian regulatory approval) an exclusive worldwide licence to intellectual property relating to a technique for locating and identifying potentially diamondiferous kimberlites or lamprolites by identifying minerals derived from the mantle transition zone. The technique has been developed by researchers at an Australian university.

The initial program will encompass target generation/identification, field followup and drill testing of kimberlite targets in two areas of Queensland identified by the exploration technique. Following this a similar program is being planned for targets in Canada.

Final transaction documentation is currently being prepared.
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