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Post by Franko10 ™ on Sept 30, 2004 20:01:38 GMT -5
Claimstaker Resources and Petro Plus Inc. - Diamond Drilling Program at Blackdome to Commence
Business Wire, June 24, 1996
VANCOUVER, B.C.--(BUSINESS WIRE)--JUNE 24, 1996--PETRO PLUS INC. (Alberta Stock Exchange: CLN Alberta Stock Exchange: PPV.A ) The directors of Claimstaker Resources Ltd. and Petro Plus Inc. are pleased to announce that a contract has been signed to diamond drill a minimum five thousand feet of core on the Blackdome Gold Mine property. The diamond drill rig is expected to commence drilling in the first week in July. The drilling program is designed to confirm and extend some of the known ore shoots so that sufficient information is available to calculate a proven or probable ore reserve. Several holes will also be drilled in a preliminary exploration test on the new South Rhyolite Zone where soil anomalies with values as high as 3 grams per tonne of gold and 10,000 parts per million mercury were discovered in 1995 along a major fault structure. The new South Rhyolite zone appears to parallel the No. 1 and No. 2 Vein structures which produced almost 225,000 ounces of gold during operations between 1986 and 1991.
Claimstaker and Petro Plus have agreed to an amendment to their agreement of May 2, 1996. The first option payment of $500,000 which is to be used to fund exploration and development work on the Blackdome Gold Mine will be paid on or before July 15, 1996. A first payment of $50,000 has been received from Petro Plus as of today. Under the agreement between Petro Plus and Claimstaker, Petro Plus has the right to earn a 50 percent interest in the Blackdome Gold Mine by funding $2.5 million in exploration and development before May 1, 1997.
On behalf of the board of directors R. Somerville Chief Executive Officer and Director
CONTACT: Claimstaker Resources Ltd.
R. Somerville, 604/884-6677
(604) 884-6678 (FAX)
or
Petro Plus Inc.
Urban Casavant, 306/922-6065
(306) 764-0204 (FAX)
COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group
Business Wire, June 24, 1996
VANCOUVER, B.C.--(BUSINESS WIRE)--JUNE 24, 1996--PETRO PLUS INC. (Alberta Stock Exchange: CLN Alberta Stock Exchange: PPV.A ) The directors of Claimstaker Resources Ltd. and Petro Plus Inc. are pleased to announce that a contract has been signed to diamond drill a minimum five thousand feet of core on the Blackdome Gold Mine property. The diamond drill rig is expected to commence drilling in the first week in July. The drilling program is designed to confirm and extend some of the known ore shoots so that sufficient information is available to calculate a proven or probable ore reserve. Several holes will also be drilled in a preliminary exploration test on the new South Rhyolite Zone where soil anomalies with values as high as 3 grams per tonne of gold and 10,000 parts per million mercury were discovered in 1995 along a major fault structure. The new South Rhyolite zone appears to parallel the No. 1 and No. 2 Vein structures which produced almost 225,000 ounces of gold during operations between 1986 and 1991.
Claimstaker and Petro Plus have agreed to an amendment to their agreement of May 2, 1996. The first option payment of $500,000 which is to be used to fund exploration and development work on the Blackdome Gold Mine will be paid on or before July 15, 1996. A first payment of $50,000 has been received from Petro Plus as of today. Under the agreement between Petro Plus and Claimstaker, Petro Plus has the right to earn a 50 percent interest in the Blackdome Gold Mine by funding $2.5 million in exploration and development before May 1, 1997.
On behalf of the board of directors R. Somerville Chief Executive Officer and Director
CONTACT: Claimstaker Resources Ltd.
R. Somerville, 604/884-6677
(604) 884-6678 (FAX)
or
Petro Plus Inc.
Urban Casavant, 306/922-6065
(306) 764-0204 (FAX)
COPYRIGHT 1996 Business Wire
COPYRIGHT 2004 Gale Group
