Owner
Post by Franko10 ™ on Mar 6, 2005 17:28:18 GMT -5
UNITED CARINA RESOURCES CORP.
105 – 111 Research Drive
Telephone: (306) 664-3828
Saskatoon, Saskatchewan
S7N 3R2
Facsimile: (306) 244-0042
_______________________________________________________________________________
N E W S R E L E A S E
Update on Additional Heavy Mineral Sampling UCA/KPG 50/50 Joint Venture in the Peace River – Buffalo Hills Diamond Play
March 4, 2005 – United Carina Resources Corp. (TSX Venture - UCA). Richard G. Walker, President, is pleased to announce follow-up of samples reported on December 13, 2004, which produced 13 pyrope garnets of G-9 composition. Additional samples have now been obtained from the shallow portions of three oil wells drilled in the Peace River Oil Sands area by an unrelated oil company.
The three wells are located within the headways of the North Heart River drainage along a NE/SW trending basement linear feature. The kimberlite indicators are similar in composition to those reported by Ashton in the Buffalo Hills. The presence of the kimberlitic indicators within the North Heart River drainage demonstrates the prospective nature of the UCA/KPG property.
United Carina, together with its 50/50 joint venture partner Consolidated Pine Channel Gold Corp. (TSX.V:
KPG), acquired by staking 138,240 hectares (341,586 acres) approximately 70 km SW of Ashton Mining of
Canada’s K296 kimberlite pipe located in the Buffalo Hills of Northern Alberta. Ashton’s exploration in the area has discovered 38 kimberlite of which 25 are diamondiferous.
The UCA/KPG property is situated along several parallel NE/SW trending basement linear features which transect the Ashton’s Buffalo Hills Block which extend SW into the vicinity of previously located kimberlitic indicator minerals within overburden whose source remains unknown.
Sample processing and microprobe analysis for these samples will be underway shortly. The Qualified Person for the property is Paul A. Hawkins P.Eng. A program to review indicator mineral occurrences and airborne geophysical data is ongoing.
United Carina further announces that it has now issued 100,000 shares towards its acquisition of a 100% interest in two claim blocks containing approximately 18,273 acres known as the South Bear uranium property, located in northern Saskatchewan. United Carina received a waiver from the Saskatchewan Financial Services Commission of their requirement to escrow the shares under the Saskatchewan Securities Act. The 100,000 shares are subject to a hold period until June 16, 2005.
Under the terms of the agreement, United Carina must issue a further 100,000 shares and pay an additional
$20,000 on or before November 9, 2005.
ON BEHALF OF THE BOARD
Rick Walker,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
105 – 111 Research Drive
Telephone: (306) 664-3828
Saskatoon, Saskatchewan
S7N 3R2
Facsimile: (306) 244-0042
_______________________________________________________________________________
N E W S R E L E A S E
Update on Additional Heavy Mineral Sampling UCA/KPG 50/50 Joint Venture in the Peace River – Buffalo Hills Diamond Play
March 4, 2005 – United Carina Resources Corp. (TSX Venture - UCA). Richard G. Walker, President, is pleased to announce follow-up of samples reported on December 13, 2004, which produced 13 pyrope garnets of G-9 composition. Additional samples have now been obtained from the shallow portions of three oil wells drilled in the Peace River Oil Sands area by an unrelated oil company.
The three wells are located within the headways of the North Heart River drainage along a NE/SW trending basement linear feature. The kimberlite indicators are similar in composition to those reported by Ashton in the Buffalo Hills. The presence of the kimberlitic indicators within the North Heart River drainage demonstrates the prospective nature of the UCA/KPG property.
United Carina, together with its 50/50 joint venture partner Consolidated Pine Channel Gold Corp. (TSX.V:
KPG), acquired by staking 138,240 hectares (341,586 acres) approximately 70 km SW of Ashton Mining of
Canada’s K296 kimberlite pipe located in the Buffalo Hills of Northern Alberta. Ashton’s exploration in the area has discovered 38 kimberlite of which 25 are diamondiferous.
The UCA/KPG property is situated along several parallel NE/SW trending basement linear features which transect the Ashton’s Buffalo Hills Block which extend SW into the vicinity of previously located kimberlitic indicator minerals within overburden whose source remains unknown.
Sample processing and microprobe analysis for these samples will be underway shortly. The Qualified Person for the property is Paul A. Hawkins P.Eng. A program to review indicator mineral occurrences and airborne geophysical data is ongoing.
United Carina further announces that it has now issued 100,000 shares towards its acquisition of a 100% interest in two claim blocks containing approximately 18,273 acres known as the South Bear uranium property, located in northern Saskatchewan. United Carina received a waiver from the Saskatchewan Financial Services Commission of their requirement to escrow the shares under the Saskatchewan Securities Act. The 100,000 shares are subject to a hold period until June 16, 2005.
Under the terms of the agreement, United Carina must issue a further 100,000 shares and pay an additional
$20,000 on or before November 9, 2005.
ON BEHALF OF THE BOARD
Rick Walker,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
