Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : A CANADIAN DIAMOND HUNT -- Ignore unavailable to you. Want to Upgrade?

To: rdww who wrote (856)	9/16/2002 11:17:16 PM
From: Rocket Red	Respond to of 930

GGL Diamond Corp - News Release GGL Diamond drills Seahorse anomalies; closes financing GGL Diamond Corp GGL Shares issued 43,722,510 Sep 16 2002 close $ 0.25 Monday September 16 2002 News Release Mr. Raymond Hrkac reports GGL DIAMOND CORP.: DRILL RESULTS AND CLOSING OF $300,000 FINA ... GGL Diamond has successfully completed the drilling of the three magnetic anomalies on the 100-per-cent-owned Seahorse property. Drill hole CH02-08SE, located approximately 40 kilometres south-southwest of the Ekati diamond mine, was drilled first, on the most northerly of the three targets, and reported in Stockwatch news on Sept. 10, 2002 (please refer to this news release for kimberlite definitions and qualifications). Preliminary drill results from the second or middle target, located 670 metres to the south-southeast, are as follows: Drill hole CH02-09SE drilled at azimuth 1.5 degrees at -45 degrees: From To Description (m) (m) Collar 38.50 metasedimentary rocks 38.50 70.47 kimberlite 70.47 92.00 metasedimentary rocks 92.00 116.45 kimberlite 116.45 200.00 metasedimentary rocks end of hole Preliminary drill results from the third or south target, 350 metres southeast of CH02-09SE, are as follows: Drill hole CH02-10SE drilled at azimuth 311.3 degrees at -45 degrees: From To Description (m) (m) Collar 113.50 metasedimentary rocks 113.50 147.00 kimberlite 147.00 151.20 metasedimentary rocks 151.20 157.70 kimberlite 157.70 222.00 metasedimentary rocks 222.00 222.17 kimberlite 222.17 275.00 metasedimentary rocks end of hole Closing of financing The company is pleased to announce that the $300,000 financing announced in Stockwatch news on Aug. 29, 2002, has closed. The 1.5 million common shares issued by private placement at 20 cents per share have a hold period until Jan. 17, 2003. The company paid a cash finder's fee of 8 per cent. The subscription proceeds will be used by the company to cover continuing corporate, regulatory and administrative costs, to provide funds to carry out exploration programs on the company's properties and for working capital. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com