Hello Folks:
Here is the most recent PALL press release.
Midas
PALL 1999-03-05 (provided courtesy of BCE Emergis - News
Services.)
PROSPECTORS ALLIANCE CORPORATION - ANNOUNCEMENT
Prospectors Alliance Corporation (PALL - CDN Toronto,
18,181,121
outstanding shares) wishes to announce the acquisition of an
interest in 133 mining claims in the Lac Rocher area of Quebec.
The claims were staked immediately following the Nuinsco
release
of January 20, 1999 announcing a drill hole on their Lac Rocher
property intersected a significant interval of massive sulphide
mineralization at the base of a disseminated nickel/copper
sulphide zone. Complete assay results released on January 25,
1999 over a significant core width of 61.5 meters averaged 1.69%
nickel, 0.49% copper, 0.04% cobalt, 144 ppb platinum and 82 ppb
palladium.
PALL has acquired a 50% interest in the 133 claims totalling
approximately 5,320 acres immediately east of Lac Villairs and
situated 8.0 km northeast of the Nuinsco Discovery east of Lac
Rocher. The northern 57 claims of PALL's claim block are in a
50:50 joint venture with Freewest Resources Canada Inc. and the
southern 76 claims are part of a 50:50 joint venture with
Explorers Alliance Corporation, a private company based in
Ontario, presently merging with International Larder Minerals
Inc., a public company listed for trading over the counter on the
CDN. A total of 100,000 common shares of Prospectors Alliance
were issued as partial payment for the southern claim block. The
transaction is subject to regulatory approval.
Published geotechnical maps by SIGEOM (Systeme d'Information
Geominiere du Quebec) indicate PALL's Lac Villairs east claim
block to be underlain by Ultramafic rocks of the Rocher Complex
intruding basement gneisses similar to the geological setting at
Nuinsco. The same SIGEOM geotechnical publication for Lac
Rocher
shows several airborne electromagnetic and magnetic anomalies
within PALL's claim boundaries in close relationship with the
Rocher Intrusive-Gneissic Complex which strikes in a
northeasterly direction from the Nuinsco Discovery.
Financing is currently underway to fund PALL's work programs in
the Lac Rocher area.
FOR FURTHER INFORMATION, PLEASE CONTACT:
John D. Harvey, President or Robert N. Granger, Vice President
Tel: (416) 360-5333 Fax: (416) 360-4419
8th Floor, 350 Bay Street, Toronto, Ontario, M5H 2S6
E-Mail: info@prospectorsalliance.com
Website: www.prospectorsalliance.com |
