TAKLA STAR RESOURCES LTD. - PROJECT UPDATE, LABRADOR
EDMONTON, Feb. 23 /CNW/ - Mr. James P. Stewart, President of Takla Star Resources Ltd. announces that project operator NDT Ventures Ltd. is not proposing any active exploration programs for the joint venture Voisey's Bay projects in 1998. To date, a total of approximately $4.2 million has been expended on the projects. As any further work on the projects would involve deep geophysics and very expensive deep drilling, the joint venture has elected to ascertain if any major mining companies may be interested in viewing the exploration data and possibly optioning various projects.
During 1997, 307 claims were reduced to 184 claims, which expire in
December 1998. The key projects (43, 44, 46, 47 and 61) remain in good
standing, with expiry dates ranging from 2002 to 2006. Other projects, including 49 and 50, will have to be reduced in size in December 1998.
Takla Star is a well financed, public Canadian exploration company with gold exploration projects in Bolivia and nickel-copper-cobalt exploration projects in Labrador.
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein |
