Owner
Post by Franko10 ™ on Oct 13, 2004 8:53:23 GMT -5
Diamond Exploration Underway
Oct 01 2002
Mr. Rick Walker, President of United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. (the 'Companies') reports that the first phase of exploration on the Companies'jointly owned Smeaton property has been completed. This work consisted of ground EM and magnetometer surveys. It was carried out by Panterra Exploration (the 'Project Operator'), which can earn a 60 % interest in the property by expending $200,000 on exploration over a two year period and in consideration of certain monetary payments and share issuances.
The Smeaton property comprises 10,624 hectares and contains at least one drill-defined kimberlite body, the extent of which is unknown. The property occurs immediately northwest of and covers the same structural trend that hosts the Snowden kimberlite cluster. The recently completed geophysical program identified several prospective targets on the property, which will require follow-up. The Project Operator has indicated that this will include both detailed ground geophysics and drill testing, and should be underway later this fall.
The Companies are also planning exploration programs for a number of jointly owned and operated properties in the Fort-a-la-Corne area; several of which occur along structural trends known to host diamondiferous kimberlites.
This work should be underway later this fall. Details will be provided when they become available.
The management and directors of the Companies are also pleased with the Mineral Exploration Incentive Plan recently announced by the Saskatchewan government, and plan to make full use of a number of the incentives. Key amongst these is a commitment by the government to match 25 % of exploration costs to a maximum of $100,000, a competitive diamond royalty and tax structure and a ten year royalty holiday for new gold and base metal mines.
United Carina Resources Corp. Consolidated Pine Channel Gold Corp.
Rick Walker, President
CONTACT: TEL: (306) 664-3828 Rick Walker
TEL: (306) 664-3828 CONSOLIDATED UNITED CARINA RESOURCES CORP.
TEL: (604) 682-8566
INTERNET: www.unitedcarina.com
EMAIL: info@unitedcarina.com
Oct 01 2002
Mr. Rick Walker, President of United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. (the 'Companies') reports that the first phase of exploration on the Companies'jointly owned Smeaton property has been completed. This work consisted of ground EM and magnetometer surveys. It was carried out by Panterra Exploration (the 'Project Operator'), which can earn a 60 % interest in the property by expending $200,000 on exploration over a two year period and in consideration of certain monetary payments and share issuances.
The Smeaton property comprises 10,624 hectares and contains at least one drill-defined kimberlite body, the extent of which is unknown. The property occurs immediately northwest of and covers the same structural trend that hosts the Snowden kimberlite cluster. The recently completed geophysical program identified several prospective targets on the property, which will require follow-up. The Project Operator has indicated that this will include both detailed ground geophysics and drill testing, and should be underway later this fall.
The Companies are also planning exploration programs for a number of jointly owned and operated properties in the Fort-a-la-Corne area; several of which occur along structural trends known to host diamondiferous kimberlites.
This work should be underway later this fall. Details will be provided when they become available.
The management and directors of the Companies are also pleased with the Mineral Exploration Incentive Plan recently announced by the Saskatchewan government, and plan to make full use of a number of the incentives. Key amongst these is a commitment by the government to match 25 % of exploration costs to a maximum of $100,000, a competitive diamond royalty and tax structure and a ten year royalty holiday for new gold and base metal mines.
United Carina Resources Corp. Consolidated Pine Channel Gold Corp.
Rick Walker, President
CONTACT: TEL: (306) 664-3828 Rick Walker
TEL: (306) 664-3828 CONSOLIDATED UNITED CARINA RESOURCES CORP.
TEL: (604) 682-8566
INTERNET: www.unitedcarina.com
EMAIL: info@unitedcarina.com
