Exploration begins on Casa Berardi portfolio
International Taurus Resources Inc ITS
Shares issued 26,751,339 Jul 6 close $0.45
Tue 7 Jul 98 News Release
Mr. Robert Blakestad reports
The company has commenced field activities on the Casa Berardi portfolio of
properties recently acquired from Cyprus Canada, a wholly owned subsidiary
of Cyprus Amax Minerals Company. The portfolio is in Quebec, Canada within
the Casa Berardi sector of the Abitibi greenstone belt.
A program of line cutting and detailed ground geophysical surveys covering
66 line kilometres will test a structural splay off of the main Detour
deformation zone. This prospective area is covered by claims comprising the
Fenelon B, Subercase and DuTast A properties. These properties lie in the
same stratigraphy as the Casa Berardi mining districts and are, directly on
strike with the Detour Lake, gold mine.
The current geophysical survey will further define drill targets identified
from the high resolution Casa Berardi airborne geophysical survey, which
was also acquired as part of the earlier transaction with Cyprus Canada.
Prior work by International Taurus management in its role as senior
explorationist with Cyprus Amax resulted in a number of gold discoveries
through the use of this survey. These discoveries include Fenelon A (70 per
cent Fairstar Exploration, 30 per cent International Taurus) where a near
surface indicated resource of 252,000 tonnes grading 14.2 g/t gold is being
reviewed for possible near term production and the Martinere D discovery,
where drilling by Cyprus in late 1997 intercepted 2.5 metres grading 12.5
g/t gold.
Financing for the exploration work on these prospects will be provided from
the $750,000 flow-through component of the $5,500,000 financing announced
in Stockwatch on June 4, 1998.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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