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Gold/Mining/Energy : Major General--MGJ
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To: Steve Joy who wrote (1183)3/12/1999 5:22:00 PM
From: Ed Pakstas  Read Replies (1) of 1707
 
****NEWS RELEASE****

Major General acquires additional diamond properties

Major General Resources Ltd MGJ
Shares issued 38,065,143 Mar 11 close $0.26
Fri 12 Mar 99 News Release
Mr. Glenn Shevchenko reports
The company has recently expanded its landholdings in the area of the new
diamond discovery on Victoria Island, NWT. The 100 per cent owned holdings,
which cover favourable structural trends, consist of three permits and 117
claims for a total of 483,800 acres. The properties are situated both
proximal and adjacent to the new diamond discovery that is on the Victoria
Island property where the company is involved in an option agreement with
De Beers.
In conjunction with a one year extension granted on the older permits, the
claims staked in 1998 and the properties optioned to De Beers, the company
now has access to 1.5 million acres in the emerging diamond belt.
The company is actively discussing joint venture opportunities with
interested third parties.
As previously reported, De Beers will be commencing an eight to 10 hole
core drilling program on the Victoria Island property in April. The
drilling is part of a $400,000 exploration program that will further test
the Snowy Owl pipe as well as other kimberlites. Previous shallow drill
testing by De Beers has intersected five diamondiferous kimberlites with
the Snowy Owl pipe returning a total of 90 diamonds from an 88 kilogram
sample.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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