New Claymore Resources Ltd
NCS
Shares issued 4,015,775
1998-09-28 close $0.44
Monday Sep 28 1998
Mr. David Duval of Abaddon Resources reports
Abaddon Resources and New Claymore Resources have amended the terms of the
option agreement for their Calling Lake prospect, 50 kilometres east of Slave Lake,
Alberta. Under the amended agreement, Abaddon has agreed to expend $60,000 for
a first phase exploration program on the property by Oct. 31, 1998; a further
$50,000 by Dec. 31, 1998 and the balance, up to an equivalent of $1.50 per acre, by
March 15, 1999. Furthermore, Abaddon has agreed to issue 50,000 shares to New
Claymore by Dec. 1, 1998 and another 100,000 shares by April 15, 1999. The
shares will be issued in blocks of 50,000 and are subject to VSE acceptance of a
geological report recommending further work on the Calling Lake property.
A ground based exploration program operated by Abaddon is scheduled to begin on
the Calling Lake property in early October. The work program will include
prospecting and soil geochemistry to establish the presence of diamond indicator
minerals. |
