Past news release
Attention Business Editors:
IBI CORPORATION ANNOUNCES ACQUISITIONS OF GUYANA GOLD PROSPECTS
TORONTO, Sept. 19 /CNW/ - IBI Corporation is pleased to announce that in
support of its June 24, 1996 agreement of intent between Placer Dome and the
government of Guyana, it has secured a number of gold prospects in the
Northwest region of the country. A formal agreement was signed with Caribbean
Ventures Inc. of Guyana which includes 72 blocks over an area of approximately
40,000 hectares (99,000 acres).
In keeping with the terms of the IBI Placer Dome agreement, the
properties will be presented to Placer Dome for evaluation. The prospects
selected by Placer Dome will undergo an exploration program during which IBI
will have a carried interest on initial expenditures up to and including the
feasibility study.
The Northwest Mining District of Guyana is underlain by rocks of
Precambrian age with recent sediments covering a strip some 40 kilometers
along the Atlantic coast. A greenstone belt trends easterly from the famous El
Cailao Mining District in neighboring Venezuela to the Coastal Sediments in
Guyana. Within Guyana the continuation of the greenstone belt contains the
I.B.I. prospects.
Within the properties covered by the I.B.I - C.V.I. agreement there are
several prospects of known gold occurrences of workable gold deposits. This
represents the first in a number of important gold prospects being acquired by
I.B.I Corporation in Guyana. Negotiations are currently in progress with the
government of Guyana as well as a number of private owners for additional
properties. I.B.I.'s applications for previously identified prospects are also
being processed.
The common shares of IBI Corporation trade through the facilities of the
Canadian Dealing Network under the symbol ``IBIC''.
IBI CORPORATION ANNOUNCES COMMENCEMENT OF PRELIMINARY EVALUATION
1996-11-06
TORONTO, ONTARIO
IBI Corporation is pleased to announce that preliminary work and
evaluation has commenced on a number of properties which were
recently acquired in Guyana. The work is being carried out by a
team headed by Dr. Alfredo Bernasconi and Mr. Glen Van Treek from
Placer Dome. The properties selected will be incorporated into the
understanding between IBI and Placer Dome. Suitable prospects will
be explored by Placer Dome with IBI's interest to be fully carried
throughout the exploration.
The common shares of IBI Corporation trade through the facilities
of the Canadian Dealing Network under the symbol "IBIC". For
further information please contact Peter Hogan at (416) 777-1073.
IBI CORPORATION ANNOUNCES FIRST GOLD PROPERTY APPROVED BY GOVERNMENT OF
GUYANA
1996-12-20
TORONTO, ONTARIO
IBI Corporation is pleased to announce that the Government of
Guyana has granted and approved the first gold property to Placer
Dome and IBI Corporation, in keeping with its agreement signed
recently in Toronto by the President of Guyana, Placer Dome and IBI
Corporation.
The property is known as the Pereroombe Gold Property situated on
the Guyana Gold Shield, approximately 20 miles south of the Omai
Gold Mine. It is 14,000 acres in size and is readily accessible.
The Pereroombe Property is adjacent to the south of the Cimicol
Tamakay Gold Prospect.
Several gold workings surround the Pereroombe Gold River. Workings
have been described in gravels as well as in basic rock. The
Guyana Ministry of Mines and Geology strongly believes that the
Pereroombe Gold Property is a very important one by its location
and geology, and should be immediately explored.
Information on the property is being sent to Placer Dome for
processing and assessing prior to carrying out exploration work.
IBI Corporation is traded on the Canadian Dealing Network (CDN)
under the symbol IBIC. For further information contact Peter Hogan
at (416) 77-1073. |
