Don, we may have to wait a wee bit for a drill program, but at least
the cash is there to do it...
Alexander News International Inc -
$250,000 private placement
Alexander News International Inc
AWS
Shares issued 4593465
1998-05-25 close $0.27
Tuesday May 26 1998
Mr. Donald O'Sullivan reports
The company has completed the private placement of 500,000 shares at 50 cents
for net proceeds of $250,000, through an individual investor.
Proceeds have been directed to the exploration of the company's 34,202 hectares
on the Harare-Shamva Archean greenstone belt, 70 kilometres north of Harare,
the capital of Zimbabwe.
Phases one and two of the exploration program have been outlined. Five targets
have been identified which require drilling: Foot 22 claims, Denham claims,
Bulldog mine, Glendale Stock West and the Glendale Stock East. The Foot 22
and the Denham claims have returned grades of 99 g/t Au and 32.6 g/t Au
respectively, through trench sampling.
The combination of the geology, mineralization and airborne geophysics indicate
that the property has potential for hosting a substantial gold deposit.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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