Hello all
Here's somemore of thr proxy form.... I have a feeling that the
brokers will be heading back into this play very soon....CEO
said NO roll back of CWA shares.... yes! I remember seeing
somebody buying 600,000 shares at 0.20 range from Nesbitt house
as this could NOT have been the small holders..Must be the insiders
or informed investors..... Hmmmm!
Signed: "Walter Nash" Signed: "Michael Stuart"
Walter Nash, Director Michael Stuart, Director
SUPPLEMENTARY MAIL LIST
RETURN CARD
NOTE: If you wish to be included in the Supplementary Mailing List of Cartaway Resources Corporation in order to receive its interim financial statements, please complete and return this card.
TO: Cartaway Resources Corporation#3, 1755 Plummer StreetPickering, OntarioL1W 3S1Attention: John Ivany, President
The undersigned certifies that the undersigned is the owner of securities of Cartaway Resources Corporation and requests that the undersigned be placed on the Supplementary Mailing List for the interim financial statements of Cartaway Resources Corporation.
Dated:
NAME
ADDRESS
SIGNATURE
NAME AND TITLE OF PERSON SIGNING
IF DIFFERENT FROM NAME ABOVE
CARTAWAY RESOURCES CORPORATION
c/o 1800, 350 - 7 Avenue SW
Calgary, Alberta
T2P 3N9
INSTRUMENT OF PROXY
THIS PROXY IS SOLICITED BY MANAGEMENT AND WILL BE USED AT THE ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON MARCH 20, 1998.
The undersigned Shareholder of CARTAWAY RESOURCES CORPORATION (the "Corporation"), or his attorney authorized in writing, hereby nominates, constitutes and appoints John Ivany, a director of the Corporation, or failing him, Michael Stuart, a director of the Corporation, or in the place and stead of the foregoing, the true and lawful attorney and proxy of the undersigned with full power and substitution to attend, and vote in respect of all shares held by the undersigned at the Annual General Meeting of the Shareholders of the Corporation, to be held at the Calgary petroleum Club, 319 - 5 Avenue SW, Calgary, Alberta, on the 20th day of March, 1998 at the hour of 10:00 a.m. (Calgary time) and any adjournments thereof, unless and until the undersigned is present in person at the Meeting or any adjournment or adjournments thereof, and without limiting the general authorization and power herein given, to vote on behalf of the undersigned in the following manner, OR, IF NO CHOICE IS SPECIFIED, THEN THE VOTE WILL BE IN FAVOUR OF THE RESOLUTION:
1. FOR [ ] OR WITHHOLD FROM VOTING [ ] in respect of the appointment of Coopers & Lybrand, Chartered Accountants, as auditor of the Corporation, and authorizing the directors to fix the auditor's remuneration;
2. FOR [ ] OR AGAINST [ ] fixing the number of directors of the Corporation at Three (3) and to authorize the Board of Directors to increase or decrease the number of directors within the minimum and maximum provided in the Corporation's Articles;
3. FOR [ ] OR WITHHOLD FROM VOTING [ ] on the election of the directors as described in the Information Circular;
4. Upon any amendment or variation of the above matters or any other matters properly brought before the Meeting or any adjournment(s) thereof in such manner as such proxyholder in his sole discretion may determine.
I revoke any former proxy previously given.
DATED THIS DAY OF , 1998.
Signature of Shareholder or his attorney authorized
in writing
PLEASE PRINT:
NAME:
NUMBER OF SHARES HELD:
NOTES:1. If the Shareholder is a company or a corporation, this instrument of Proxy should be under its corporate seal and executed by an officer or attorney thereof duly authorized. 2. A Shareholder has the right to appoint a proxyholder (who need not be a Shareholder) to attend and act for him on his behalf at the Meeting other than the persons designated above. To exercise this right, the shareholder may insert the name of the desired person in the blank space provided above and strike out the other names or may complete another appropriate proxy and in either case, should deliver the completed proxy to the Chairman of the Meeting.
P R E S I D E N T' S R E P O R T
TO THE SHAREHOLDERS
We are pleased to present the annual report and financial statements for your consideration.
Exploration in the past years, while not encountering any ore grade material, continued to encourage us particularly on the Cirque and several of the other properties in the Okak area. Our priority will be to continue exploration through equity funding of the company or by joint venture. The Cirque continues in our estimation to be one of the most prospective properties in Canada.
Our farm-out agreement with CanAlaska Resources Ltd. will ensure on-going activity on the BR-E property as well as providing a modest amount of cash to Cartaway.
On behalf of the Directors
John Ivany
President and CEO
REPORT ON OPERATIONS
SUMMARY
Cartaway has completed twelve drill holes for 68877.37 meters on The Cirque property in Labrador. A lense of disseminated to massive sulphide mineralization has been delineated in a zone 350 meters wide by 600 meters long over a vertical depth of 800 meters (900 meters ASL to 100 meters ASL). The 1997 drilling extended the mineralization 400 meters below that encountered from the drilling on the top of the Cirque. Assay results in the new mineralization were similar to previous results. The geophysical consultant has recommended further drilling.
Eight geophysical anomalies were identified in the Puttuaalu Brook area, one of which was drill tested on the CanAlaska option and returned interesting assays. It is proposed that other drill targets be drill tested.
The Hathor-Cartaway joint venture will complete a ground magnetic-electromagnetic survey on a number of AEM anomalies in the Wilson Lake area.
A large loop PEM survey will be completed on the BR-E claim blocks northern boundary with the Donner-NDT property and south of the Donner-Northern Abitibi discovery. The property is under option to International CanAlaska Resources Ltd.
KOGALUK SYNDICATE
Cartaway has retained 341 claim units of the 1,112 purchased originally, these have been re-organized under five Map Staked Licences. In addition, Cartaway acquired by map staking a further 26 claim units under two Map Staked Licences in the Puttuaalu Brook area.
Two drill holes were completed on the Cirque property for a total of 1,498.37 meters. The holes tested a geophysical conductor which was indicated by the Crone down-the-hole pulse electromagnetic surveys completed on drill holes LBN-7 to LBN-10.
Drill hole LBN-11 intersected lenses of disseminated to massive mineralization over a core length of 80 meters (608.55 to 689.40). A 3.05 meter intercept of massive sulphides (from 664.15 to 667.20 meters) returned 0.081% Co., 0.302% Cu and 0.197% Ni. This grade is similar to those obtained near the bottom of the hole LBN-4 and located 400 meters vertically above the intercept in LBN-11. There was no significant increase in grade. The geophysical contractor recommended that drill hole LBN-12 attempt to intercept the on strike extension of the sulphide lenses intercepted in drill hole LBN-11 approximately 100 meters to the south, and if possible vertically above. Hole LBN-12 tracked further south then planned and did not intersect the sulphide lenses. The down-the-hole PEM survey indicates LBN-12 went by the southern edge of the sulphide lenses, in fact the mineralization is close enough to give a in-hole response on the PEM survey.
A surface PEM survey was completed on top of the Cirque in the vicinity of drill holes LBN-1 to LBN-6 and, combined with the PEM data from holes LBN-7 to LBN-12 at the bottom on the Cirque, the geophysical consultant has intercepted the mineralization intersected in holes LBN-1 to LBN-6 to represent "an irregular zone of mineralization generally flat lying with no obvious strong continuity to deeper, vertically dipping conductors. The deeper conductors that we know exist from drilling are obviously obscured by the strong surface response." He has recommended Cartaway drill a vertical hole on the top of the Cirque to test the northern extension of the mineralization intersected in drill holes LBN-1 to LBN-6, two holes from the bottom of the Cirque to test the extension of the mineralization intersected in LBN-11 and the up dip extension of the conductors detected at the bottom of hole LBN-8.
INTERNATIONAL CANALASKA RESOURCES AND
INTERNATIONAL FREEPORT MINERAL DEVELOPMENT
The large loop PEM survey completed in 1996 defined three anomalies on the CanAlaska property and one of these was drilled in 1997. The drill hole intersected lenses of disseminated to massive sulphides over a core length of eight meters from 112.78 to 120.26 meters and a 0.85 meter massive sulphide lense from 113.85 to 114.70 returned 0.50% Ni, 0.58% Cu and 0.11% Co. A down-the-hole PEM survey confirmed the flat lying nature of the sulphides and the geophysical consultant has recommended the anomaly be drill tested 200 meters to the north.
The option agreement has been re-negotiated to allow Cartaway sufficient time to drill test the three geophysical targets. The re-negotiation was done in conjunction with the Farm-Out agreement on the BR-E property south of the Donner-Nrothern Abitibi discovery. Cartaway has an option to earn a 50% interest in the property (reduced from 60%) by expending an aggregate of $2,000,000. on or before December 31, 1999 (reduced from $3,000,000. on or before September 1, 1999 with a minimum of $500,000. on or before December 31, 1997).
THISTLE
The deep flat topped conductor along the eastern boundary of the BR-E property (Map Staked Licence 3307M) was drill tested and determined to be pyrrhotite in graphitic gneisses near the upper contact with a flat lying gabbroic sill.
An option has been let to International CanAlaska Resources Ltd. ("ICA") whereby ICA can earn a 50% interest in the property (designated SVB-1) by placing a $100,000. private placement in Cartaway at a price of $0.30, completing a $100,000., program of geophysics on or before April 30, 1998 and an aggregate of $500,000. on or before December 31, 1999. The ground geophysical survey will evaluate several AEM anomalies which occur along of near the north boundary of the block.
FREEPORT JOINT VENTURE
Cartaway has retained 828 claim units under seven Map Staked Licences. Prospecting and reconnaissance geological was completed on four of the licences but no significant mineralization was located.
HATHOR JOINT VENTURE
Hathor Exploration Limited (formerly Longview Minerals Limited) propose to carry-out a ground geophysical survey to evaluate a number of AEM anomalies in the Wilson Lake are of southern Labrador. The anomalies occur within a meta-volcanic terrain (pyroxene granulite facies) which occurs within the Grenville aged rocks but has not been deformed during the Grenville Orogency. The joint venture has retained 314 claim units under seven Map Staked Licences.
ROCKHOPPER GEM
Cartaway and Peruvian have an option to each earn a 25% interest in 225 claim units under 19 Map Staked Licences in southern Labrador. The property has a high grade lilac coloured corundum occurrence which has potential to produce the gemstone Sapphire. A number of samples were obtained with the aid of a rock saw and a number of till samples were collected from pits down ice from the showing. The samples are undergoing evaluation in Cartaway's Pickering office and to date none of the corundum crystals have responded in a positive manner to heating.
MISCELLANEOUS
The Southview, International Silver Ridge Resources Inc. and Kyfanan Lake joint ventures have been dissolved.
No further work was completed on the Harp Lake, Camnor and Tenajon joint ventures.
The British Columbia properties were optioned back to the Cassiar Syndicate. |
