Hi John, FYI: IKI is doing work adjacent to NWI...
... IKI plans an immediate 90 day surface geophysical survey on both the Foreurs and Huskies properties with the objective of defining drill targets. In addition, Nuinsco reports that their drilling, 1,000 m north of IKI holdings, will resume within the next 10 days. ...
International Kirkland Minerals Inc. (''IKI'' / The ''Company'') is pleased to announce that, subject
to regulatory approval, the Company has entered into two option agreements as follows:
1. FOREURS CLAIM BLOCK, QUEBEC
The Company may earn a 50 percent interest in the 15 claim Foreurs block from Dumont Nickel
Inc. by paying $55,000 in cash and 50,000 common shares of the Company on signing, and within
the next three years paying $15,000 per year, incurring $375,000 in exploration, and issuing a
further 50,000 common shares of IKI. The Foreurs property is subject to a 3 percent NSR royalty
of which 1.0 percent of the NSR may be repurchased for $1,000,000 USD within the next five
years.
The Foreurs claim block is contiguous to the southern boundary of the Nuinsco Resources Limited
Lac Rocher nickel property and is situated approximately 1,000 m south of the recent Nuinsco
discovery where Nuinsco reported values, in drill core, of up to 17.7 m of 3.87 percent Ni, 0.99
percent Cu and 0.09 percent Co.
2. HUSKIES PROSPECT, QUEBEC
In addition, IKI may earn a 100 percent interest from a private vendor in the 30 claim Huskies
Prospect by making cash payments of $55,000 on signing and $15,000 per year in the second and
third years, as well as issuing 50,000 common shares of the Company on closing and a further
50,000 common shares on or before May 31, 1999 on filing of a property report acceptable to the
VSE, and by incurring $200,000 in exploration over a three year period. Upon exercise of the
option, the property will be subject to a 3 percent NSR royalty. These 30 contiguous claims are
situated approximately 18 km due east of the Nuinsco discovery within a similar geologic setting.
The Huskies Prospect is known to host two intrusive magnetic anomalies within local Gneissic rocks.
IKI plans an immediate 90 day surface geophysical survey on both the Foreurs and Huskies
properties with the objective of defining drill targets. In addition, Nuinsco reports that their drilling,
1,000 m north of IKI holdings, will resume within the next 10 days.
On behalf of the Board,
Dan M. Clark, President
Contact:
International Kirkland Minerals Inc.
Dan M. Clark
President
(416) 597-1480
(416) 597-1479
International Kirkland Minerals Inc.
Feb. 12, 1999
Shares Issued: 5,188,001
Stock Options / B Warrants: 545,000 at $0.40
Shares Authorized: 100,000,000
International Kirkland Minerals Inc. (''IKI'' / the ''Company'') is pleased to announce that, subject
to regulatory approval, the Company has entered into two further option agreements with a private
vendor for properties in the Lac Rocher region of northwes tern Quebec as follows:
The Company may earn a 100 percent interest in an 8 claim block located approximately 8 km north
of the Nuinsco Resources Limited (''Nuinsco'') Lac Rocher Nickel discovery, by making cash
payments of $60,000 on signing as well as issuing 50,000 common shar es of the Company on
closing. Subject to the filing of a property report acceptable to the VSE, a further 50,000 common
shares of the Company are to be issued on or before June 30, 1999. Upon exercise of the option,
the property will be subject to a 2 p ercent NSR royalty, of which 1 percent of the same royalty may
be repurchased at any time by the Company for $1,000,000 CDN.
In addition, the Company may earn a 100 percent interest in a 52 claim block located about 12 km
north of the Nuinsco discovery by paying $60,000 on signing as well as issuing 50,000 common
shares of the Company on closing. Subject to the filing of a pr operty report acceptable to the VSE,
a further 50,000 common shares of the Company are to be issued on or before June 30, 1999.
Upon exercise of the option, the property will be subject to a 2 percent NSR royalty, of which 1
percent of the same royalty may be repurchased at any time by the Company for $1,000,000 CDN.
On behalf of the Board,
Dan M. Clark, President
Contact:
International Kirkland Minerals Inc.
Dan M. Clark
President
(416) 597-1480
(416) 597-1479
info@internationalkirkland.com
internationalkirkland.com |
