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Gold/Mining/Energy : Centurion Mines CP (CTMC) -- Ignore unavailable to you. Want to Upgrade?

To: grw5 who wrote (42)	11/11/1997 11:45:00 PM
From: jacq	Respond to of 89

Quadrant Financial: Acquisition of Mining Interests Business Wire - September 09, 1997 10:15 QUADRANT-FINANCIAL QFL. %NEW-YORK %MINING %METALS %BANKING %MERGERS %ACQ V%BW P%BW ------------------------------------------------------------------------ Jump to first matched term VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 9, 1997-- Quadrant Financial Corp. (VSE:QFL) ("the Company") is pleased to announce that it has entered into a contract, by way of assignment, with Condor Goldfields Inc. to acquire a 50 percent undivided interest in certain mining concessions located in the Republic of Honduras which will be explored for gold and zinc. The above transaction, combined with our previously announced agreement with Nevada Star Resource Corp. concerning its La Virgen copper property located in the State of Michoacan, Mexico, will provide the Company with a significant base of mineral properties in the Central America region from which to expand. Nevada Star currently holds an option to acquire a 100 percent interest in the La Virgen Project from Minera Virgo, S.A. de C.V. subject to the completion of required financing. LA VIRGEN PROJECT: In consideration of the Company expending up to $ 1 million U.S. for exploration and development work on the property to completion of a bankable feasibility study and, if a positive bankable feasibility study is obtained, for the further commitment by the Company to arrange for up to US$ 6.5 million of project financing to bring the property into production, the Company will earn an undivided 50 percent working interest in the property. The project's land position consists of 600 hectares of exploitation leases. Surface rights have been purchased to 197 hectares, which covers the area where the copper resource occurs and where processing facilities are planned. A Geological Report, dated March 31, 1997, by Mine Development Associates of Reno, Nevada, filed with the VSE, indicates a measured and indicated resource of oxide and sulfide ore of 2.5 million metric tonnes with an average grade of 1.1 percent CU at a 0.15 percent cut off. It also indicates inferred resources of 6 million metric tonnes grading 1.04 percent CU. Recent positive drilling results indicate a significantly increased copper resource. I am still looking for more information on Nevada Star when I get some I will post it to this thread. The summary in the 1996 Financial Post Survey of Mines looked pretty weak for Nevada Star.