Post by daj on Apr 12, 2005 21:35:17 GMT -5
AZTEC Mining Announces Interest in Kimberlite Pipe
Tuesday , April 12, 2005 22:35 ET
INDIANAPOLIS, Apr 12, 2005 (BUSINESS WIRE) --AZTEC Mining Corp. (Pink Sheets:AZTM) is pleased to announce it has acquired a 100% interest in four mineral claims in the Southern Mining District of Saskatchewan, Canada. These claims contain the kimberlite pipe formerly known as the Carolyn. This diamondiferous kimberlite, based on past diamond results by the previous operator, warrants further exploration. The surrounding ground hosts multiple bulls-eye magnetic targets that commonly represent above basement intrusive rocks. A new ground geophysical survey on the claims is to commence shortly.
A number of scientific studies (http://www.mgls.org/95Sym/Papers/Mwenifumbo/) as well as Geological Society of America Bulletin: Vol. 109, No. 8, pp. 1000-1020 have indicated that the Carolyn, also referred to as the Smeaton Pipe, has undergone multiple eruptive phases. This is similar to the Star Pipe which is located about 20 miles southeast of the Carolyn. The Star Pipe, owned by Shore Gold, has yielded a 19.71 carat diamond as well as more than 30 diamonds over 1 carat in size.
AZTEC hopes to delineate kimberlite within the Carolyn which would correlate to the enriched Early Joli Fou kimberlite phase within the giant Star Pipe. After ground geophysics, a drilling program is planned that will focus on any enriched kimberlite phases that are identified in the Carolyn Pipe.
United Carina Resources Corp. and United Pine Channel Gold have launched a legal action to stop the transfer of the kimberlite pipe formerly known as the Carolyn to Aztec Mining Corp. This injunction was rejected by a Saskatchewan judge. Both parties are making further claims that will be dealt with by Seagrove Capital Corporation on behalf of Aztec Mining Corp. Aztec Mining Corp. feels the legal action is without merit.
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
SOURCE: AZTEC Mining Corp.
AZTEC Mining Corp.
Scott Tobia, 317-566-2169
fax: 317-566-2169
www.aztecmining.com
Tuesday , April 12, 2005 22:35 ET
INDIANAPOLIS, Apr 12, 2005 (BUSINESS WIRE) --AZTEC Mining Corp. (Pink Sheets:AZTM) is pleased to announce it has acquired a 100% interest in four mineral claims in the Southern Mining District of Saskatchewan, Canada. These claims contain the kimberlite pipe formerly known as the Carolyn. This diamondiferous kimberlite, based on past diamond results by the previous operator, warrants further exploration. The surrounding ground hosts multiple bulls-eye magnetic targets that commonly represent above basement intrusive rocks. A new ground geophysical survey on the claims is to commence shortly.
A number of scientific studies (http://www.mgls.org/95Sym/Papers/Mwenifumbo/) as well as Geological Society of America Bulletin: Vol. 109, No. 8, pp. 1000-1020 have indicated that the Carolyn, also referred to as the Smeaton Pipe, has undergone multiple eruptive phases. This is similar to the Star Pipe which is located about 20 miles southeast of the Carolyn. The Star Pipe, owned by Shore Gold, has yielded a 19.71 carat diamond as well as more than 30 diamonds over 1 carat in size.
AZTEC hopes to delineate kimberlite within the Carolyn which would correlate to the enriched Early Joli Fou kimberlite phase within the giant Star Pipe. After ground geophysics, a drilling program is planned that will focus on any enriched kimberlite phases that are identified in the Carolyn Pipe.
United Carina Resources Corp. and United Pine Channel Gold have launched a legal action to stop the transfer of the kimberlite pipe formerly known as the Carolyn to Aztec Mining Corp. This injunction was rejected by a Saskatchewan judge. Both parties are making further claims that will be dealt with by Seagrove Capital Corporation on behalf of Aztec Mining Corp. Aztec Mining Corp. feels the legal action is without merit.
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
SOURCE: AZTEC Mining Corp.
AZTEC Mining Corp.
Scott Tobia, 317-566-2169
fax: 317-566-2169
www.aztecmining.com
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