Bobby Y:
Check this out. Looks mildly interesting. Could be a bit of a run here if'n they get lucky and hit a pipe.
Regards,
L8er,
TAZ
Condor International Resources Inc
COD VSE
August 5, 1998
Drill Program Commences on Kikerk Lake Diamond Project
CONDOR INTERNATIONAL RESOURCES INC ("COD-V;CILRF-L")
- Drill Program Commences on Kikerk Lake Diamond Project
Fred G. Hewett, President of Condor International Resources Inc. is pleased to announce that the Company has commenced the 1998 drilling program on the Kikerk Lake Diamond project, located 500 km north of Yellowknife in the Northwest Territories.
Drilling crews have been mobilized to the field and drillingis currently in progress. The program will initially be comprised of at least 10 holes designed to evaluate 4 distinct kimberlite targets.
Three of the targets are land based and one is associated with a small lake that will be drilled from shore. Drill targets have been delineated based on kimberlite indicator mineral (K.I.M.) anomalies
coincident with geophysics and topographic depressions. All targets have been ground investigated by geological personnel.
A successful follow-up till sampling program has been in progress on the Hunter East Block since early July, 1998. This program, operated by Condor, has further defined the 4 kimberlite targets.
Preliminary results have been received by the Company which have revealed high levels of K.I.M.s ranging up to 5000 indicators in samples. Many of the indicator grains exhibit adhering kimberlite
fragments, indicating a close proximity to kimberlite sources. The 1998 program has confirmed the potential presence of multiple kimberlite bodies.
A second phase of sampling has been completed on anomalies outside the main indicator mineral train. Samples are currently being processed and observed with results pending.
Condor may acquire up to a 50% interest in the Kikerk Lake Diamond Project from Caledonia Mining Corporation ("Caledonia") . Condor will have earned a 30% interest in the properties this season following the expenditure of $300,000 and can earn an additional 20% interest by incurring a further $400,000 in exploration expenditures. Once Condor has fully vested, Caledonia may elect to earn an additional 5% by expending $500,000 in exploration within the following six months.
TEL: (604) 687-7545 Fred G. Hewett, President FAX: (604) 689-5041
__ |
