Owner
Post by Franko10 ™ on Jun 13, 2005 5:36:20 GMT -5
UNITED CARINA RESOURCES CORP.
105 – 111 Research Drive Telephone: (306) 664-3828
Saskatoon, Saskatchewan S7N 3R2 Facsimile: (306) 244-0042
_______________________________________________________________________________
Preliminary Results from Heavy Mineral Sampling UCA/KPG 50/50 Joint Venture in the Peace River – Buffalo Hills Diamond Play May 19, 2005 – United Carina Resources Corp. (TSX Venture - UCA). Rick Walker, President of the Company, is pleased to announce preliminary results from the upper portion of the first of three oil wells, which were sampled by the Joint Venture in the Peace River Oil Sands area. The three wells drilled by an unrelated oil company are located within the headways of the North Heart River drainage along a NE/SW trending basement linear feature. A large number of indicator mineral grains consisting of 818+ garnets, 57 clinopyroxenes (Chrome Diopside) and 1000+ ilmenite grains are present along with 46 olivine grains in total from the 10 samples. The samples are likely from at least two till horizons, one of which is highly anomalous between 25m – 75m. The results although preliminary in nature are based on examination of the heavy mineral concentrate, are impressive.
The number of indicators is much larger that previously seen on the property. A kimberlite pipe or pipes are in the vicinity. Micro-probe analysis of the indicators is in process and as well the remaining samples from the other two holes are at Loring Laboratories in Calgary.
The Kimberlite indicators are likely similar in composition to those previous obtained by the JV and reported by Ashton and the Alberta Geological Survey in the Buffalo Hills. The presence of the kimberlitic indicators within the North Heart River drainage demonstrated the prospective nature of the UCA/KPG property.
The Company and 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 kimberlites of which 25 are diamondiferous. The three wells which were sampled are on properties which the Joint Venture owns the mineral rights and the oil and gas rights are owned by the company, which drilled the wells.
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. The Company further announces the granting of incentive stock options to certain of its directors, employees and consultants to purchase up to 1,000,000 shares of the Company at a price of $0.25 per share, for a period of three years. Currently, there are no stock options outstanding for the Company.
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
_______________________________________________________________________________
Preliminary Results from Heavy Mineral Sampling UCA/KPG 50/50 Joint Venture in the Peace River – Buffalo Hills Diamond Play May 19, 2005 – United Carina Resources Corp. (TSX Venture - UCA). Rick Walker, President of the Company, is pleased to announce preliminary results from the upper portion of the first of three oil wells, which were sampled by the Joint Venture in the Peace River Oil Sands area. The three wells drilled by an unrelated oil company are located within the headways of the North Heart River drainage along a NE/SW trending basement linear feature. A large number of indicator mineral grains consisting of 818+ garnets, 57 clinopyroxenes (Chrome Diopside) and 1000+ ilmenite grains are present along with 46 olivine grains in total from the 10 samples. The samples are likely from at least two till horizons, one of which is highly anomalous between 25m – 75m. The results although preliminary in nature are based on examination of the heavy mineral concentrate, are impressive.
The number of indicators is much larger that previously seen on the property. A kimberlite pipe or pipes are in the vicinity. Micro-probe analysis of the indicators is in process and as well the remaining samples from the other two holes are at Loring Laboratories in Calgary.
The Kimberlite indicators are likely similar in composition to those previous obtained by the JV and reported by Ashton and the Alberta Geological Survey in the Buffalo Hills. The presence of the kimberlitic indicators within the North Heart River drainage demonstrated the prospective nature of the UCA/KPG property.
The Company and 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 kimberlites of which 25 are diamondiferous. The three wells which were sampled are on properties which the Joint Venture owns the mineral rights and the oil and gas rights are owned by the company, which drilled the wells.
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. The Company further announces the granting of incentive stock options to certain of its directors, employees and consultants to purchase up to 1,000,000 shares of the Company at a price of $0.25 per share, for a period of three years. Currently, there are no stock options outstanding for the Company.
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.
