There is noi mention of it at the Birchmounatin.com website and there is no know Tintina Website to Canada Stckwatch, BUT an old NR I read and saved -there IS mention of THE Birch Mountains, not BMD persee:
Tintina Mines Ltd -
Tintina arranges financing for Alberta properties
Tintina Mines Ltd
TTS
Shares issued 7,102,277
1999-01-20 close $0.45
Wednesday Jan 20 1999
Mr. S.F. Sabag reports
Tintina has made the necessary submissions to the Toronto Stock Exchange
requesting approval for acceptance of a $175,000 private placement financing for
continuing work on its Alberta properties. The placement entails the issuance of
700,000 units at 25 cents per unit, each unit consisting of one share and one
warrant exercisable within one year at 35 cents per share or within two years at
45 cent per share. As part of the terms of the private placement, Tintina has also
granted the placee the first right to participate in any future financing by the
company, within a one year period, to the maximum of the placee's current
investment.
The company, along with its joint venture partner NSR Resources Inc., has been
actively pursuing development of metal bearing zones previously discovered at
their Asphalt and Buckton properties in the Birch Mountains, in the Athabasca
region of northeastern Alberta. As previously reported, process metallurgical
bench tests of drill core composite samples were started during 1998 to enable
formulation of a suitable flowsheet for collective extraction of the pay metals on a
combined basis from the zones. This work returned disappointing results
demonstrating the unsuitability of flotation to the beneficiation of a concentrate
from the fine grained ashy sulphidic shales as all concentrates produced reported
compositions nearly identical to the feed material.
After investigating alternatives, the company and its partner have found that a
series of very recently completed preliminary tests have successfully produced
suitable concentrates reporting also sporadic gold in some of the concentrates.
Current intentions are to apply the above financing toward immediate broadening
of the testwork to optimize recoveries with the anticipation of starting additional
drilling and sampling later in the year subject to availability of additional financing.
Efforts are already under way to secure said additional funds.
Of metallic interest at the two properties are laterally extensive near-surface metal
enriched sulphide bearing zones hosted in unconsolidated flat-lying black shales of
the Cretaceous Second White Specks formation carrying copper, nickel, cobalt,
zinc, molybdenum and vanadium, with traces of precious metals. Given continuity
of grade as shown by reconnaissance drilling and the vast inferred lateral extent of
the mineralized zones extending over several tens of kilometres, their most
attractive features are proximity to surface and unconsolidated nature, hence their
amenability to low cost large scale bulk mining extraction. Field work at the two
properties has been held in abeyance pending resolution of process metallurgical
economics. Anticipations are that work will shortly be reactivated.
While the bulk of activities at the Asphalt and Buckton properties have thus far
focused on metallic mineralization, Tintina and its partner, have also been
reviewing data and samples archived from the two properties to better assess the
strong likelihood for the existence of as yet undiscovered kimberlitic pipes at the
two properties, as suggested by the existence of abundant garnets with favourable
compositions in drill core therefrom in sections bearing proximal bentonites.
Encouraged by the previous discovery in certain alluvial heavy mineral
concentrates from the area of mineral assemblages indicative of the diamond
stability field, several sample suites, including samples from 1998 field work, were
submitted for detailed review. Many of the samples have returned favourable
mineral assemblages all of which have been submitted for analysis by electron
microprobe. It is particularly significant that results received to date help define
heavy mineral enrichment vectors which will undoubtedly serve to better locate
sources of the minerals.
S. F. Sabag has been appointed to the position of president and chief operating
officer. Mr. Sabag has been a director and vice-president of the company for
several years. Cecil H. Franklin will continue to serve as chief executive officer
and chairman of the board.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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