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Gold/Mining/Energy : MILL CITY MIY-V

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To: ALAN DUBE who wrote (373)	11/5/1998 4:19:00 PM
From: ALAN DUBE	Read Replies (1) of 707

I Just pulld this from the SUF thread. Seems interesting!! CANADA - NORTHWEST TERRITORIES Yamba Lake During the third quarter an agreement was reached with Tanqueray Resources and Cypango Ventures, whereby the company has the right to earn a 51 per cent interest in the Yamba Lake property which adjoins the northern boundary of the BHP-DiaMet Ekati diamond mine at Lac de Gras. Five kimberlite pipes have been discovered on the property and considerable potential exists for finding new pipes. The terms are that SouthernEra is to spend $1-million in the first two years and a total of $5-million over four years to earn a 51 per cent interest. In September, over 1,000 till samples were collected to test both airborne geophysical targets and areas that have returned positive indicator results from previous sampling. The samples will be processed during the fourth quarter, with drilling planned for March 1999.

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