Stock was halted today at 2.75 +.55 after a tremendous run. Here is the last press release:
Nu-Lite Industries Ltd
NLE VSE
February 26, 1997
Work Program Commencement on Keystone Property
NU-LITE INDUSTRIES LTD ("NLE-V")
- Work Program Commencement on Keystone Property
Kenneth W. Trociuk, President & CEO of Nu-Lite Industries Ltd. is pleased to announce that a $200,000 work program on Nu-Lite's
Keystone Property is scheduled to commence April 1st, 1997.
The wholly owned Keystone Property is located 50 km north of Dease Lake, British Columbia. Native gold and platinum
mineralization occurs in sheeted quartz veins within altered ultramafic intrusives. Trenching on the property in 1931 cut 40 feet
of 0.25 oz/t gold and diamond drilling in 1987 by Equity Silver Mines intersected 25 feet of 0.25 oz/t gold based on assaying for
metallics.
The work program will consist of six diamond drill holes to test the mineralized Keystone Fault, as well as further geologic work
to delineate the mineralized zones.
Nu-Lite will conduct airborne geophysical surveys this spring on the Watson Lake and Simpson Lake properties strategically located
in the Finlayson Lake area, south central Yukon.
Nu-Lite has also completed an initial geological review of the Sanmenxia Property located in Henan Province, Peoples Republic of
China. The samples are being assayed by ACME Analytical in Vancouver, British Columbia. A 1.3 tonne bulk sample from the property
is currently undergoing metallurgical testing by Process Research Associates of Vancouver, British Columbia. An engineering report
including assay results will be released when received.
Nu-Lite announces that it will, subject to the approval of the Vancouver Stock Exchange, grant incentive stock options in the
amount of 200,000 shares, exercisable on or before February 25th, 1999 at a price of $1.35 per share.
TEL: (604) 682-2998 Kenneth W. Trociuk, President & CEO FAX: (604) 688-3346 |
