Owner
Post by Franko10 ™ on Feb 23, 2005 23:44:35 GMT -5
Link to PDF of whole document
Parts related to CMKM:
The Company’s efforts have continued to be concentrated on the exploration of its joint venture
mineral claims in the Fort a la Corne area of Saskatchewan, and on seeking exploration partners for those properties.
***
During the quarter ending October 31, 2004, the Company continued its diamond exploration.
***
(g) Saskatchewan Kimberlite Project
During 2000, the Company and United Carina Resources Corp. (Carina) acquired by
staking 23 mineral claims in the Fort a la Corne area of north central Saskatchewan.
On March 24, 2004, the Company, entered into two agreements granting options to
acquire interests in the 23 claims as follows:
1. U.S. Canadian Minerals Inc. (“U.S.Canadian”), which option grants U.S.
Canadian the right to acquire a 25% interest in the Property, subject to a 1% net
smelter royalty, one-half of which can be purchased by U.S. Canadian for US$1
million at any time. In consideration for the option, U.S.Canadian will pay the
sum of US$50,000 ($25,000 to each of Pine Channel and United Carina) and
expend CDN$100,000 on the Property by March 31, 2005;and
2. CMKM Diamonds Inc. (“CMKM”) which option grants CMKM the right to acquire a 25% interest in the Property, subject to a 1%$ net smelter royalty, onehalf
of which can be purchased by CMKM for US$1 million at any time. In consideration for the option, CMKM will pay the sum of US$50,000 ($25,000 to
each of Pine Channel and United Carina) and expend CDN$100,000 on the Smeaton Property by March 31, 2005.
To October 31, 2004 the Company had incurred acquisition costs totaling $9,501 and $6,810 on exploration of the claims.
Hmmm only $6,810 spent on the Carolyn claims.
(h) Saskatchewan Diamond Projects
The Company acquired by staking, joint venture and option agreements, interest in a total of 373 claim blocks, located in north-central Saskatchewan in the Northern and Southern Mining Districts. To October 31, 2004 all but 11 of these claim blocks have lapsed.
To October 31, 2004 the Company had incurred acquisition costs totaling $22,290 and $387,045 on exploration of the claims.
$387,045 on these... wow
(i) Project Surround
On September 18, 2003 the Company entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company will have an option to earn a 10% interest in 82 claims in the Fort a la Corne area of Saskatchewan. The interest will be earned by the Company advancing $150,000 by December 31, 2003 (paid) and an additional $150,000 by December 31, 2004 (paid) to be spent on exploring the claims for diamonds, In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.
Subsequent Events
The following events occurred subsequent to October 31, 2004:
a) The Company participated in an airborne magnetic survey which was conducted in the month of May, 2004 and final data has been received. Ground follow-up of this data will be conducted in the following months.
Parts related to CMKM:
The Company’s efforts have continued to be concentrated on the exploration of its joint venture
mineral claims in the Fort a la Corne area of Saskatchewan, and on seeking exploration partners for those properties.
***
During the quarter ending October 31, 2004, the Company continued its diamond exploration.
***
(g) Saskatchewan Kimberlite Project
During 2000, the Company and United Carina Resources Corp. (Carina) acquired by
staking 23 mineral claims in the Fort a la Corne area of north central Saskatchewan.
On March 24, 2004, the Company, entered into two agreements granting options to
acquire interests in the 23 claims as follows:
1. U.S. Canadian Minerals Inc. (“U.S.Canadian”), which option grants U.S.
Canadian the right to acquire a 25% interest in the Property, subject to a 1% net
smelter royalty, one-half of which can be purchased by U.S. Canadian for US$1
million at any time. In consideration for the option, U.S.Canadian will pay the
sum of US$50,000 ($25,000 to each of Pine Channel and United Carina) and
expend CDN$100,000 on the Property by March 31, 2005;and
2. CMKM Diamonds Inc. (“CMKM”) which option grants CMKM the right to acquire a 25% interest in the Property, subject to a 1%$ net smelter royalty, onehalf
of which can be purchased by CMKM for US$1 million at any time. In consideration for the option, CMKM will pay the sum of US$50,000 ($25,000 to
each of Pine Channel and United Carina) and expend CDN$100,000 on the Smeaton Property by March 31, 2005.
To October 31, 2004 the Company had incurred acquisition costs totaling $9,501 and $6,810 on exploration of the claims.
Hmmm only $6,810 spent on the Carolyn claims.
(h) Saskatchewan Diamond Projects
The Company acquired by staking, joint venture and option agreements, interest in a total of 373 claim blocks, located in north-central Saskatchewan in the Northern and Southern Mining Districts. To October 31, 2004 all but 11 of these claim blocks have lapsed.
To October 31, 2004 the Company had incurred acquisition costs totaling $22,290 and $387,045 on exploration of the claims.
$387,045 on these... wow
(i) Project Surround
On September 18, 2003 the Company entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company will have an option to earn a 10% interest in 82 claims in the Fort a la Corne area of Saskatchewan. The interest will be earned by the Company advancing $150,000 by December 31, 2003 (paid) and an additional $150,000 by December 31, 2004 (paid) to be spent on exploring the claims for diamonds, In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.
Subsequent Events
The following events occurred subsequent to October 31, 2004:
a) The Company participated in an airborne magnetic survey which was conducted in the month of May, 2004 and final data has been received. Ground follow-up of this data will be conducted in the following months.
