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Post by Franko10 ™ on Mar 24, 2006 12:24:14 GMT -5
Blue Note Files NI 43-101 Technical Report on Caribou and Restigouche Mines
12:18 EST Friday, March 24, 2006
Report indicates resource of 5,262,900 tonnes
Shares Outstanding: 13.6 Million
Symbol & Exchange: BNT-TSXV
MONTREAL, March 24 /CNW/ - Blue Note Metals Inc. reports that it has filed its "NI 43-101 Technical Report on the Caribou and Restigouche Properties". The report, prepared by geological consultants InnovExplo Inc. of Val D'Or, Quebec, calculates a combined mineral resource of 5,262,900 tonnes for the Caribou and Restigouche deposits. The properties, currently owned by Breakwater Resources Ltd. of Toronto are being acquired by Blue Note Metals Inc. The two parties are working to complete the definitive asset purchase agreement pursuant to the Letter of Intent. The company is also currently active in fulfilling all other conditions for the closing.
The Caribou and Restigouche deposits are located near Bathurst, New Brunswick. Also as part of this Breakwater transaction, nearby exploration properties, Orvan Brook, McMaster, Carol Armstrong and Armstrong will be acquired.
The report outlines the geological and operations background and presents the mineral resources and future potential of these mines. Data from this report will be incorporated into the 43-101 compliant feasibility study which is now being completed by Micon International Ltd. of Toronto, Ontario.
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Following are the resources as outlined in the 43-101 report:
Caribou
Tonnes Assay
%Pb %Zn G/T Ag
Measured 2,800,300 3.45 7.64 95
Indicated 1,009,700 2.76 7.12 85
Total Measured & Indicated 3,810,000 3.26 7.50 92
Inferred 3,944,300 3.59 7.36 107
Restigouche
Measured 761,900 5.53 7.20 125
Indicated 691,000 5.46 6.98 81
Total Measured & Indicated 1,452,900 5.50 7.10 104
John Martin, BASc, P.Eng, President of Blue Note Metals Inc. and Qualified Person has edited and reviewed the technical information contained in this press release.
Blue Note Metals is a mineral exploration and mine development company with properties in New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information: LORNE WOODS. VICE PRESIDENT, CORPORATE DEVELOPMENT, BLUE NOTE METALS, (800) 937-3095, LWOODS@BLUENOTEMETALS.CA, WWW.BLUENOTEMETALS.CA
12:18 EST Friday, March 24, 2006
Report indicates resource of 5,262,900 tonnes
Shares Outstanding: 13.6 Million
Symbol & Exchange: BNT-TSXV
MONTREAL, March 24 /CNW/ - Blue Note Metals Inc. reports that it has filed its "NI 43-101 Technical Report on the Caribou and Restigouche Properties". The report, prepared by geological consultants InnovExplo Inc. of Val D'Or, Quebec, calculates a combined mineral resource of 5,262,900 tonnes for the Caribou and Restigouche deposits. The properties, currently owned by Breakwater Resources Ltd. of Toronto are being acquired by Blue Note Metals Inc. The two parties are working to complete the definitive asset purchase agreement pursuant to the Letter of Intent. The company is also currently active in fulfilling all other conditions for the closing.
The Caribou and Restigouche deposits are located near Bathurst, New Brunswick. Also as part of this Breakwater transaction, nearby exploration properties, Orvan Brook, McMaster, Carol Armstrong and Armstrong will be acquired.
The report outlines the geological and operations background and presents the mineral resources and future potential of these mines. Data from this report will be incorporated into the 43-101 compliant feasibility study which is now being completed by Micon International Ltd. of Toronto, Ontario.
<<
Following are the resources as outlined in the 43-101 report:
Caribou
Tonnes Assay
%Pb %Zn G/T Ag
Measured 2,800,300 3.45 7.64 95
Indicated 1,009,700 2.76 7.12 85
Total Measured & Indicated 3,810,000 3.26 7.50 92
Inferred 3,944,300 3.59 7.36 107
Restigouche
Measured 761,900 5.53 7.20 125
Indicated 691,000 5.46 6.98 81
Total Measured & Indicated 1,452,900 5.50 7.10 104
John Martin, BASc, P.Eng, President of Blue Note Metals Inc. and Qualified Person has edited and reviewed the technical information contained in this press release.
Blue Note Metals is a mineral exploration and mine development company with properties in New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information: LORNE WOODS. VICE PRESIDENT, CORPORATE DEVELOPMENT, BLUE NOTE METALS, (800) 937-3095, LWOODS@BLUENOTEMETALS.CA, WWW.BLUENOTEMETALS.CA
