HMMM.
No explanation for market activity
Searchgold Resources Inc RSG
Shares issued 3,035,998 1998-06-29 close $0.62
Tuesday Jun 30 1998
Mr. Jerome Cliche reports
Following a request by the Montreal Exchange, Searchgold Resources wishes to inform investors that it cannot explain the activity on the stock in the last two days and that drilling has started as planned, on June 15, on the Bakoudou deposit in Gabon.
The goal of the 3,000 metre drilling campaign is to verify the extensions of the deposit which is open to the north, south, east and in depth. It is defined in an area of 300m x 400m and 80m deep with an average grade of 3 g/ton Au in 7 million tons, which amounts to 675,000 ounces in total reserves, including 101,000 proven ounces.
The first grade results should be available before the end of July and management is confident that this drilling campaign will increase actual reserves significantly.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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