Owner
Post by Franko10 ™ on Oct 2, 2004 14:14:58 GMT -5
Claimstaker Resources Announces Los Hilos Property Update
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
symbol: CLN) has an option to acquire a 60% interest in the 337
hectare Los Hilos gold and silver property in the Uruachi District
in Chihuahua State, Mexico. Recently, Claimstaker and the vendor
agreed to extend the dates as required in the agreement for cash
payments, share issuances and work expenditures as follows:
An optional cash payment of US$15,000 and an optional issuance of
50,000 Claimstaker shares due on May 30, 2000 will now be due on
December 1, 2000. Also, the optional first year US$200,000 work
commitment that was to have been spent by May 30, 2000 has been
extended to December 1, 2000, with the proviso that US$50,000 be
expended prior to May 30, 2000.
During January and February 2000, Claimstaker initiated an
exploration program to open and rehabilitate old underground mine
workings that probably date from early in the twentieth century.
Our geologist reports that the old workings are extensive, and
contain strong sulphide mineralization. Results obtained by
thoroughly sampling the accessible areas of the old workings will
enable Claimstaker to plan further exploration of this exciting
prospect. Assay results should be available within three weeks.
The Los Hilos property has had periodic, active mining since the
mid-1700s, and is reported to have produced 133,400 tonnes at 4.21
grams per tonne Au (0.12 opt) and 315.87 grams per tonne Ag (9.3
opt) between 1927-30 and 1951-52, two separate periods of
activity. Previous sampling by the vendor, Golden Goliath
Resources, and others has confirmed widespread anomalous gold and
silver mineralization.
On behalf of the Board of Directors,
Richard Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Robert Veitch
Investor Relations
1-888-236-5200
(604) 684-6678 (FAX)
WebSite: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
symbol: CLN) has an option to acquire a 60% interest in the 337
hectare Los Hilos gold and silver property in the Uruachi District
in Chihuahua State, Mexico. Recently, Claimstaker and the vendor
agreed to extend the dates as required in the agreement for cash
payments, share issuances and work expenditures as follows:
An optional cash payment of US$15,000 and an optional issuance of
50,000 Claimstaker shares due on May 30, 2000 will now be due on
December 1, 2000. Also, the optional first year US$200,000 work
commitment that was to have been spent by May 30, 2000 has been
extended to December 1, 2000, with the proviso that US$50,000 be
expended prior to May 30, 2000.
During January and February 2000, Claimstaker initiated an
exploration program to open and rehabilitate old underground mine
workings that probably date from early in the twentieth century.
Our geologist reports that the old workings are extensive, and
contain strong sulphide mineralization. Results obtained by
thoroughly sampling the accessible areas of the old workings will
enable Claimstaker to plan further exploration of this exciting
prospect. Assay results should be available within three weeks.
The Los Hilos property has had periodic, active mining since the
mid-1700s, and is reported to have produced 133,400 tonnes at 4.21
grams per tonne Au (0.12 opt) and 315.87 grams per tonne Ag (9.3
opt) between 1927-30 and 1951-52, two separate periods of
activity. Previous sampling by the vendor, Golden Goliath
Resources, and others has confirmed widespread anomalous gold and
silver mineralization.
On behalf of the Board of Directors,
Richard Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Robert Veitch
Investor Relations
1-888-236-5200
(604) 684-6678 (FAX)
WebSite: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.
