NEWS RELEASE:
25 Manitoba claims to be acquiredÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
Zodiac Exploration Corpÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ZIP
Shares issued 20,897,905ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Nov 13 close $0.13
Thu 13 Nov 97ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release
Mr Donald Morrison reports Zodiac has signed an agreement with White Wolf Explorations, wherein Zodiac willÿ acquireÿ aÿ 100%ÿ interest, subject to a 2.5% nsr, in 25 claim blocks totaling 1,978 hectares, eight miles northwest of Selkirk, Manitoba. As consideration, the agreement calls forÿ Zodiacÿ toÿ a)ÿ payÿ theÿ vendor $25,000 upon signing; and b) issue 100,000 shares upon VSE approval. A finders fee, up to the maximum allowable by theÿ VSE,ÿ willÿ beÿ paidÿ to
Heath Ellingham. The claims cover portions of a largeÿ ultramafic/gabbroicÿ complex,ÿ within theÿ Precambrian basement rocks, buried at a relatively shallow depth under sedimentary rocks. The target metals are the platinumÿ groupÿ elementsÿ and nickel/copperÿ sulphides.ÿ Moreÿ thanÿ 125,000ÿ hectares have been recently staked in the immediate area. The ultramafic/gabbroic complex isÿ reflected byÿ a very significant coincident magnetic and gravity anomaly. The gravity anomaly is one of the highest positive anomalies ever recorded in Canada. Drilling has commenced in the central portion of the anomaly, which adjoins Zodiac'sÿ W-3ÿ claims,ÿ asÿ partÿ of a $3,000,000 exploration program being conducted by ProAm Explorations. Zodiac expects to commence work on the W-3 claims by December 1997.
(c) Copyright 1997 Canjex Publishing Ltd.
At last some positive news... If ProAm hits something, look out for ZIP.
BTW Dan, you were right when you said expect a news release in the next two weeks - two weeks exactly. If you have anything to add re: the above acquisition I would appreciate it.
Regards,
Wats |
