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Gold/Mining/Energy : Cartaway resources
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To: John Paquet who wrote (1561)4/15/1998 6:57:00 PM
From: Ben Wei  Read Replies (2) of 2505
 
Cartaway Resources Corporation -

SVB-1 geophysical program under way

Cartaway Resources Corporation CWA
Shares issued 37581240
1998-04-14 close $0.19
Wednesday Apr 15 1998
See International Canalaska Resources Ltd (ICA)
News Release Mr Harry Barr reports CanAlaska has commenced
a magnetic and large loop time domain electromagnetic survey on
its optioned SVB-1 property in Labrador. CanAlaska may earn a
50% interest in the property from Cartaway Resources by
completing the current $100,000 geophysical program and
expending a total of $500,000 on exploration on the SVB-1
property. CanAlaska will assume operatorship of the project
after the initial $100,000 has been spent. The SVB-1 property
is 7km south of the Donner Minerals/Northern Abitibi discovery
where drilling in 1997 returned an intersection of 15.7 metres
grading 1.13% Ni, 0.87% Cu and 0.20% Co within a gabbro unit
which extends on to the northern portion of the SVB-1 property.
Donner and joint venture partners have budgeted $14.7 million
for exploration of the region in 1998. Teck Corp, contractor for
the current exploration program, has the right to earn a 50%
interest in the Donner/Northern Abitibi property. The PEM
survey of the SVB-1 property will evaluate two conductors
with coincident magnetic response located by a 1995
helicopter-borne geophysical survey. Both conductors
occur in the northeastern part of the property in proximity to
the mineralized gabbro unit.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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