Stock up today. Still like this company very much. Take a look at this news release.
Essam.
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Poplar Resources Ltd -
News highlights of 1997
Poplar Resources Ltd PPX
Shares issued 16,155,679 Nov 19 close $0.30
Thu 20 Nov 97
Mr G. McDowell reports
NEWS HIGHLIGHTS OF 1997
November 19: Raymond Davies Report: estimates reserves of US$2.169 billion
for more than 20 km of diamondiferous-fissures in South Africa: Estimates
are based in part on geochemistry work by John Gurney and Stuart Hill, and
by previous production records on properties and local areas.
"Previous work on the two properties has established the presence of
kimberlite fissures... The fissures are diamondiferous... The stones
recovered from both properties appear to have been of high quality and is
typical of fissures, the grade and thickness of the fissures should persist
with depth... Poplar is not buying into a grass roots operation but into an
opportunity to develop one or two significant diamond mines." -- R. Davies
November 18: Agreement Finalized with Savannah Diamondfields: for two
properties in established diamond producing areas of South Africa. These
projects include diamondiferous fissure systems, mineable tailings, a
possible kimberlite pipe and alluvial gravels from the "Lost, ancient Vaal
River".
November 13: Off-VCT Trade by Private Investors of 3,333,000 Poplar shares,
Brokered by Union Securities.
November 3: Dr. Jan-Ola Larsson Appointed as Managing Director Poplar's
Scandinavian subsidiary (North Star Diamonds A. S.).: former Head of
Geochemistry at Geological Survey of Sweden; author of book outlining the
high prospectivity of diamonds in the Baltic Shield.
October 31: Poplar Obtains $1.1 Million Financing for North Star Diamonds
A. S. from Norwegian Investment Group: North Star Diamonds A. S. formed to
oversee Poplar's Baltic Shield operations.
October 29: Poplar Obtains $800,000 Financing: first part of an expected
$2.1 million financing. Investors include Benitz & Partners (UK), The
Harmattan Group, R. Bell and others.
June 23: Joint Venture with Alcaston Mining of Australia to Explore for
Diamonds in Northern Half of Sweden (270,000 sq km): Till and stream
sampling programme conducted during the summer of 1997. Samples being
pre-processed at Poplar's laboratory in Finland.
June 6: Four Prospecting Licences Awarded for Diamond Exploration in
Ireland.
April 18: Acquisition of 100% of Scandinavian Assets of Caledonia Mining
Corp.: includes 45 mining claims in Finland, and a comprehensive
aeromagnetic data set for Sweden and Finland.
April 17: Jouko Jylanki M. Sc. Appointed as Exploration Manager in
Scandinavia & Finland: geological consultant and former employee of the
Geological Survey of Sweden. Till and stream sampling work programme
commences. Geological laboratory set up in Finland.
February 3: Gennen McDowall Appointed as President and CEO of Poplar:
Geophysicist with 25 years experience in Europe and Africa.
DIAMONDS
A GLOBAL STRATEGY
Poplar Resources Ltd. (PPX-VSE) is a Canadian diamond-exploration company.
Exciting projects are now underway in:
* South Africa, Sweden, Finland, and Ireland
* Other highly prospective properties under evaluation on four continents
* (Poplar also has important gold and base metal properties in
Scandinavia).
DIAMOND FISSURES
SOUTH AFRICA
In the traditional diamond-mining regions of South Africa, Poplar has three
exciting "DIAMOND-FISSURE" projects.
* Poplar's diamond-fissures are similar to those being development by
SouthernEra and other companies
* Fissures are noted for high grades
* Consultant's reports commissioned
* Bulk sampling: scheduled for 97/98
* Poplar's kimberlite fissures estimated to be more than 25 km in length
* Poplar also has potential diamondiferous gravels along "LOST, ANCIENT
VAAL RIVER"
DIAMONDS
EMERGING AREA PLAYS
Poplar is also working in the promising new area plays of the northern
hemisphere.
SWEDEN & THE BALTIC SHIELD
* Pending: diamond exploration rights, "NORTHERN HALF OF SWEDEN" (270,000
sq km)
* Extensive sampling now underway
* Finland: 45 diamond mining claims
* Geology of region is similar to the NWT and Russia, where major diamond
deposits have been found.
* Area play includes: Dia Met, De Beers, Cambridge Minerals (UK).
* Exploration and development costs are approximately one third of NWT
* More than $2.2 million spent on development of these properties
IRELAND
* Historical alluvial diamond find
* British Geological Survey, and Cambridge Minerals (UK), confirm Ireland
is prospective for diamonds
* Poplar holds a major land position.
CORPORATE INFORMATION
EXCHANGE & SYMBOL: Vancouver: PPX.VSE SHARES: 19,470,679
HIGH/LOW: $ 0.15 -- $ 0.68 (11.09.97)
PERSONNEL:
G. McDowall (Geophysicist), Pres. & CEO; J. L. Dillman, Chairman; A.
Jackson (Geologist), Director; T. Birkeland (Geologist), Director.; S.
Milligan, Director.; B. Honeth (Mining Eng.), Exploration. Manager,
Southern Africa; J. Jylanki (Geologist), Exploration Manager, Northern
Europe; L. MacMillan & W. A. Melvin, Corporate Development & Investor
Relations.
POPLAR RESOURCES LTD. (PPX.VSE)
SUITE 701-475 HOWE ST.
VANCOUVER, B. C., CANADA, V6C 2B3
PHONE: (604) 669-5650
FAX: (604) 685-6341
TOLL FREE: 1-800-888-7184
WEB SITE: www.poplar-res.com
Email: lmac@axionet.com
WAYNE A. MELVIN, INVESTOR RELATIONS |
