Hi Marcos
Excellent News today!!!!
Cheers
Anna
Cadre Resources Ltd.
Valencia, Venezuela
Phone: (250) 447-6641
TSX Venture Exchange-CSL 12g-2(b):82-2911
NEWS RELEASE
January 24, 2005
Stanley Sandner, Chairman, CEO and Carlos Bacalao, Directors of Cadre Resources Ltd. (the “Company”) are pleased to announce the Company has received an affirmative response letter (the “Letter”) from the Planification Office of the Governor’s Office for the State of Bolivar, Venezuela. The Letter recognizes and affirms that Office has received and accepted the Company’s proposal (Propuesta) for a detailed evaluation and plan for the sustainable maintenance and removal of large volumes of sand and gravel material from the Bajo Caroni. The Letter further offers the assistance and cooperative support of the Governor’s Office to see the initiation and startup of the Caroni Project through to realization and completion. The Letter also notes the importance of Cadre’s Project to the State of Bolivar and the country of Venezuela.
During the next several days, Cadre officials will meet with all parties related to the Project in order to finalize arrangements to get the Project under way.
As stated in the previously completed Pre-Feasibility Study, the Company proposes to gather and evaluate some 150-200 sub bottom profiles using high tech, multi-frequency sonic penetrating equipment plus side-scan sonar using sub-meter GPS to delineate the precise location, thickness and cubication of the extensive high quality sand & gravel deposits known to exist in the Bajo Caroni Basin. Systematic bulk-sampling will be carried out using advanced sampling techniques and equipment.
The purpose of the profiling and sampling is to accurately determine the full extent, composition, analysis and screen sizing of the material. 3-dimensional computer models will be developed using the profiles and precise GPS locations to determine volumes and most effective systems for removal and treatment of material pursuant to the first stage terms of the Company’s Bankable Feasibility Study.
The main objective of this program is to delineate the material and thereby design a cost-effective Maintenance Program for the environmentally friendly removal and disposition of approximately 10 million tons of material per year.
The long term objective is to “clean up” and preserve the integrity, sustainability and longevity of the Bajo Caroni reservoirs.
The Company is pursuing a “quick start” plan to remove several million tons of troublesome sand & gravel sediments surrounding an intake pipe for the Puerto Ordaz potable water supply. This plan is to be done simultaneously with the sub-bottom profiling and sampling of the main portion of the reservoir.
CADRE RESOURCES LTD.
Per: “Stanley L. Sandner”, CEO
The statements made in this News Release may contain certain forward looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company.
The TSX Venture Exchange or any other regulatory authority has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this news release. |
