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I have just noticed that Boulder Mining has a few new additions. Howard Baker is now the Vice President of Exploration. He will bring many opportunities to Boulder. John Magee will focus on the corporate side. He brings in financial contacts. What I like about this is that they are putting the right people in place to look for opportunities. They seem very serious to get Boulder moving. Also someone is acquiring a large position. It's a good bet. BTW, many of the directors are involved with Corner Bay Silver. Enclosed is the News Release. Boulder Mining Corp - News Release Boulder appoints Baker and Magee as VPs Boulder Mining Corp YBR Shares issued 12,519,491 Nov 28 2001 close $.050 Thursday Nov 29 2001 News Release Mr. John McAdam reports Nelson Baker, BSc, PEng, has joined the company as vice-president, exploration, and will be nominated for appointment as a director at the next meeting of the board of directors. Mr. Baker is a very well-known, highly regarded explorationist with over 33 years of experience in all facets of the mining business. His wealth of experience, his keen analytical mind and his boundless energy are certain to make a dramatic positive impact on the affairs of the corporation. John Magee, BSc, a key executive and director of the corporation, assumes the position of vice-president, corporate development. Based on Mr. Baker's extensive gold and diamond experiences in Archean rocks, he has directed the corporation to the west Abitibi Lake area of Northeastern Ontario at the intersection of the Lake Temiskaming structural zone, the host of diamond-bearing kimberlite pipes in the Kirkland Lake-New Liskeard area to the south and the Lake Abitibi dformation zone, a prominent, 325-kilometre-long regional linear that trends through the Abitibi greenstone belt. Due to the lack of exposure, the Lake Abitibi deformation zone has not been explored historically for world-class gold deposits similar to those found in the Timmins and Kirkland Lake camps. Lake Abitibi project has potential for major gold and diamond discovery Boulder Mining has acquired an option to earn a 100-per-cent interest in four separate claim blocks (4,496 hectares) situated west-northwest of Lake Abitibi in the Larder Lake mining division of Ontario. Gold potential The largest claim block, WALP (gold), covers a 10-kilometre extension Lake Abitibi deformation zone, a prominent regional structural zone that trends between and parallel to the Destor-Porcupine break immediately to the south and the Casa Berardi break to the north. Both of these structures host world-class deposits having produced collectively over 65 million ounces of gold. A compelling picture is painted by the coincidence of flexures in the Lake Abitibi deformation zone and the intersection of the cross-cutting Lake Temiskaming structural zone directly up-ice from many auriferous boulders and free gold in glacial deposits. Recent studies conducted by the Ontario Geological Survey suggest that the most likely source of this dispersion train of gold is associated with the Lake Abitibi deformation zone which trends through the WALP (gold) property. Diamond potential The three separate claim blocks, the WALP (kimberlite) claims, occur within the northwest-trending Lake Temiskaming structural zone a short distance north of the WALP (gold) property and cover four distinct clusters of circular magnetic anomalies that are potential kimberlite targets. Past exploration for diamonds along this zone has discovered a total of 28 dikes and diatremes of which 10 hosted diamonds. The circular magnetic anomalies on the WALP property are interpreted to be kimberlite bodies and have apparently never been tested. Exploration plans Boulder Mining is compiling available information from the newly acquired properties and is formulating exploration plans. The likely program will entail line cutting, ground geophysics and a reverse cirulation drilling program in the immediate vicinity of the identified targets. It is expected that the company will undertake financings including flow-through-type financing, in the near future to finance its plans. The deal Boulder Mining must pay the optionor, Clement J. Baker, 1) $25,000 in cash payments, 2) issue the optionor a total of 200,000 common shares over three years, and 3) spend a total of $500,000 on exploration over three years with $100,000 to be spent during the first year and second year. The properties are subject to a 2-per-cent net smelter return royalty but Boulder Mining has the right to acquire 1 per cent of the net smelter return royalty for a total of $1-million. The foregoing is subject regulatory and board approval. Boulder Mining has agreed to cede its entire interest in the Tybo West property and the Barnet oroperty back to the property vendors. | ||||||||||||
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