Hi Norm, I think that what you want.
Sincerely, Michel
================================================
Stockwatch: Mirandor Exploration Inc - News Release
Date:
Fri, 13 Mar 1998 11:15:15 -0800
Two Quebec mining properties being acquired
Mirandor Exploration Inc MIQ
Shares issued 17,282,926 Mar 12 close $0.40
Fri 13 Mar 98 News Release
Mr James Speros reports
The company has entered into two separate agreements to acquire 100%
interests in two mining exploration properties in Northwest Quebec (Lac
Foubert and Lorraine mine)
The Lac Foubert property is approximately 18km west of the producing
copper-zinc-silver Selbaie mine, and consists of 25 claims covering 400
hectares. The property is adjacent to the company's 100% owned Carheil
property where a diamond drilling program carried out by the company in
1996 retained significant copper values varying between 0.30% and 0.60%
copper over widths of up to 16m. The Lac Foubert property shows evidence of
the continuation of Selbaie type copper-zinc environments and of favourable
horizons for gold mineralization. On the adjacent Carheil property a
surface showing returned an assay of 0.16 oz/ton gold, 1.1 oz/ton silver
and 0.95% copper.
The transaction calls for the issuance of 350,000 shares for a 100%
interest. The seller retains a 2% nsr royalty that can be repurchased for
$1,000,000. The company has also granted an option of 350,000 shares at
$0.52 for two years.
The Lorraine mine property is in Gaboury and Blondeau townships in the
Belleterre-Algiers greenstone belt of Northwest Quebec and consists of 79
claims covering 2400 hectares. The property contains the past producing
Lorraine mine where approximately 600,000 tons of 0.62% nickel and 1.57%
copper were mined. The property has undergone limited exploration, and
possible strike and depth extensions to the orebody have not been
adequately drilled. The property also shows potential for further
mineralization at depth including platinum-palladium as well as nickel,
copper and gold. Other copper-gold-silver structures were intersected at
depth below 900 feet that returned samples averaging up to 0.94 oz/ton gold
and 2.75% cooper. These veins were not further explored or mined prior to
the mine shutdown. On other areas of the property, potential for further
nickel-copper mineralization exists at the contact of basic lavas and
gabbroic intrusives. These structures have not been explored.
Finally, on the property, a surface vein structure from 6 to 17 feet wide
and over 5,000 feet in length is known. Limited trenching on this structure
revealed gold values with assays from limited grab samples returning values
of up to 0.139 oz/ton gold.
The transaction calls for the issuance of 100,000 shares to acquire a 100%
interest.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
|
