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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: Jean East who wrote (1534)	1/13/2000 8:05:00 AM
From: Jean East	Respond to of 1707

jor General Resources Ltd - Cameco/Major General joint ventures Despinassy property Major General Resources Ltd MGJ Shares issued 41,742,995 2000-01-12 close $0.16 Thursday Jan 13 2000 See Cameco Corporation (CCO) News Release Mr. William Coulter reports Cameco Gold, as to 70 per cent, and Major General, as to 30 per cent, have entered into a joint venture agreement for the further exploration and development of the Despinassy gold property. Cameco Gold has been appointed manager, and the joint venture has approved an exploration program costing $450,000, which will commence on Jan. 17. The program's first phase will be composed of 2,500 metres in six holes around Hole Des 99-17, where previous drilling intersected a number of gold zones, including 11.0 grams per tonne Au over 3.1 metres, 10.4 g/t Au over 1.6 metres and 7.0 g/t Au over 5.1 metres. Cameco Gold optioned the Despinassy property in late 1997, and since then has incurred $852,000 of exploration expenditures and made option payments to Major General of $75,000. The Despinassy property covers 4,568 hectares and is located 75 kilometres north of Val d'Or, Que. These gold zones are situated within an altered deformation corridor attaining widths of 200 metres and a strike length of at least 4.5 kilometres, which is consistently anomalous in gold. Cameco Gold is a wholly owned subsidiary of Cameco Corp. Cameco Gold has production at Kumtor in the Kyrgyz Republic, and exploration projects in North America and Central and Southeast Asia. North America is Cameco Gold's primary exploration target, where it is concentrating on acquiring high-quality late-stage projects like Despinassy. Major General is senior exploration company exploring for gold, base metals and diamonds across Canada. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)