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Gold/Mining/Energy : Inco-Voisey Bay Nickel [ T.N.V] -- Ignore unavailable to you. Want to Upgrade?

To: Taff who wrote (731)	7/14/1999 8:32:00 AM
From: John E.Quinn	Respond to of 1615

Inco Ltd - Inco to commence new Voisey Bay exploration program Inco Ltd N Shares issued 181,077,082 1999-07-13 close $26.15 Wednesday Jul 14 1999 Ms. Sandra Scott reports Inco Limited will begin a new round of exploration later this summer on its Voisey's Bay property as a first step toward an underground exploration program. This new exploration will focus on the main block area held by Voisey's Bay Nickel Company Limited (VBN), its wholly owned subsidiary, where the Ovoid deposit is located as well as other claim blocks held by VBN. Beginning in early September, delineation drilling of the Eastern Deeps zone of the Voisey's Bay deposit will be undertaken from surface in preparation for its eventual underground exploration. Some exploration drilling and geophysical work will also continue on other high-priority targets including: the Sarah prospect, some six kilometres north of the Ovoid, where current drilling is testing extensions to narrow intersections of high-grade nickel sulphides; the Kiglapaits property, 60 kilometres north of the main claim block area; and Red Dog, a large area two kilometres south of the Ovoid. This new exploration program involves 10,000 metres of drilling at a cost of $3.6-million. It will employ 73 people, including 23 Inco and Voisey's Bay Nickel employees as well as 50 others from contract drilling and support services firms. The program follows the completion of Inco's exploration spending commitment under the terms of the April, 1996, agreement covering its acquisition of Diamond Field Resources, Inc. and the Voisey's Bay deposit and other claim blocks in Labrador. Inco will have spent more than $80-million in exploration expenses in Labrador by the end of August, 1999. Inco expects to release an updated estimate of the total resources at Voisey's Bay later this month. WARNING: The company relies on litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)