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Gold/Mining/Energy : New Claymore Resources
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To: B. Thomson who wrote (293)2/16/1998 2:22:00 PM
From: B. Thomson  Read Replies (2) of 531
 
NEWS RELEASE:
VANCOUVER - The search for Alberta kimberlites has begun in earnest for a number of junior exploration companies. Meteor Minerals (MMI-A) and partner New Claymore Resources (NCS-V) have begun drilling potential targets on the 150,000-ha Carmon Creek prospect in north-central Alberta. A total of 30 geophysical targets will be tested by diamond drilling; two inclined holes are planned for each target. Samples will be processed and analyzed by Lakefield Research, with an estimated turnaround time of six weeks.
The Carmon Creek prospect is 25 km southwest of the Buffalo Hills joint-venture project involving Ashton Mining of Canada, Alberta Energy and Pure Gold Minerals. Meteor holds an option to earn a 50% interest in Carmon Creek from New Claymore.
Elsewhere, Montello Resources (MEO-A) and Redwood Resources (RDW-A) have commenced drilling in the Jazz prospect area, southeast of Ashton's kimberlite discovery. While ground geophysical work to develop further targets is ongoing, a total of 18 geophysical targets will be tested initially. Redwood can earn up to a 50% interest in Montello's property holdings in the Buffalo Hills area.

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Copyright (c) 1997, 1998 NEW CLAYMORE RESOURCES LTD. All rights reserved.
For more information, check out our website at newclaymore.com
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