Hello Lorne:
Here is the PALL press release on the drilling in the Savant Lake area of northwestern Ontario. It was copied directly from the SI profile page on PALL. Hope this helps.
Midas
PROSPECTORS ALLIANCE CORPORATION ANNOUNCES COMPLETION OF FOUR
DRILL HOLES
TORONTO, ONTARIO--
Prospectors Alliance Corporation (PALL - CDN Toronto, 13,631,121 outstanding shares) wishes to disclose the following information:
In Conant Township, 10 km north of Savant Lake in northwestern Ontario, the Company has recently completed four drill holes totalling 575 meters on its wholly owned mining claims. As the result of testing two parallel geophysical anomalies coinciding with surface base metal mineralization, a new polymetallic sulphide environment is being encountered in favourable acid volcanic and sedimentary rocks. The drill holes completed thus far have indicated significant widths of sulphide mineralization with low copper, zinc, lead and silver values received to date in disseminated to massive sulphide mineralization. The results this far are sufficiently encouraging
to further test the presently known 700 meter strike length of the open ended sulphide anomalies along the east-west trending host volcanics for economic grade mineralization.
Additional geophysical surveying is in progress to define the strike extent of the anomalies hosting the volcanic sulphide mineralization and several other airborne geophysical targets that are believed to lie within the same package of favourable stratigraphy have been staked along strike.
The Company also wishes to announce that it has accepted a subscription for the purchase of one million units consisting of one common share and one warrant to purchase a further common share within eighteen months for proceeds of $200,000. Also the Company is in the process of raising a minimum of $300,000 and a maximum of $700,000 by way of a private placement offering from 1,500,000 to 3,500,000 special warrants to acquire units consisting of one common share and one warrant to purchase a common share, such warrant entitling the holder to purchase one such share for $0.20. The special warrants are being issued on a flow through basis at $0.20 per special warrant and the warrants comprising part of each unit are exercisable within eighteen months.
FOR FURTHER INFORMATION, PLEASE CONTACT:
John D. Harvey, President or Robert N. Granger, Vice President
Tel: (416) 360-5333 Fax: (416) 360-4419
Suite 1800, 95 Wellington Street West, Toronto, Ontario, M5J 2N7
E-Mail : info@prospectorsalliance.com
Web Site: www.prospectorsalliance.com |
