Hello Goalie
This mornings NR:
Tanqueray Resources Ltd. / Mill City International Inc. SouthernEra Commences Winter Exploration Program at Yamba Lake
CALGARY, March 2 /CNW/ - TANQUERAY RESOURCES LTD. (TQY-ASE) and MILL CITY
INTERNATIONAL INC. (MIY-VSE) (MIYNF-OTC) are pleased to announce that
SouthernEra Resources Ltd. has recommenced exploration on the 152,000 acre
Yamba Lake Property in the Northwest Territories. At a recent presentation in
Calgary, Mr. Howard Bird of SouthernEra announced that the 1999 exploration
program would consist of a minimum of $1,000,000 in expenditures. Mr. Bird
stated that this budget would be increased depending upon the results as the
exploration program proceeded. SouthernEra has the right to earn a 51%
undivided interest in the Yamba Lake Property by expending $10 million on or
before December 31, 2002.
The 1999 program commenced on February 16, 1999, with an 8,000
line-kilometer high resolution airborne geophysical survey at 100 metre
spacing over the entire property. Unique to this program is that all
geophysical data obtained from the airborne survey will be processed daily at
SouthernEra's camp on the property, which will permit immediate follow-up of
ground geophysics and drill testing. In addition to any new targets
identified, two previously discovered kimberlites, the Ptarmigan and the T-10
pipes, will also be re-drilled in mid-March.
As exploration techniques in the Northwest Territories have been modified
and improved over the past number of years, Mill City, Tanqueray and
SouthernEra are optimistic that the current program has a realistic objective
of finding numerous additional kimberlites over and above the six kimberlite
pipes identified through previous exploration programs.
Neither the Vancouver Stock Exchange nor The Alberta Stock Exchange have
approved or disapproved the information contained herein.
I will post later.
Regards |
