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Post by Franko10 ™ on Jan 28, 2005 22:27:36 GMT -5
Casavant Mining Kimberlite International Announces Purchase Bid for Latest Model Truck Mounted Drilling Rig with Diamond Exploration Schedule
Business Wire, Dec 2, 2002
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Dec. 2, 2002
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today that it was bidding for the latest model truck mounted drilling rig.
The Company intends on purchasing the drilling rig following design and maintenance approval by the drill team project manager. The drilling rig and all related equipment (i.e. water truck, water tank, 3000 feet drilling capacity, onsite geologist office and living camp) will be relocated "turn-key" to the Company's mineral claims which are located in proximity to the Fort a la Corne diamond fields in Saskatchewan, Canada.
For the past 10 years, the Fort a la Corne diamond fields have been the subject of joint exploration by De Beers Canada Exploration, Inc., Kennsington Resources Ltd., Cameco Corporation and UEM, Inc. To date, over $20 million (USD) has been spent testing 71 kimberlite bodies which have been described as world class diamondiferous kimberlite pipes.
The Company will use the latest in airborne and surface technologies to test for both magnetic and non-magnetic diamondiferous kimberlite fields using proprietary software. During this phase of exploration, the Company will identify those drill sites which evidence the best profile for diamondiferous kimberlite pipes. With over a 1,000,000 acres of claims, the Company will be able to minimize exploration costs while maximizing exploration results through the use of this state of the art technology.
The new drilling rig will be used by the Company to test core samples in the diamondiferous kimberlite bodies evidencing the best software enhanced profiles. The core samples take anywhere from 3 to 5 drilling days to complete per hole depending upon set-up time and overburden thickness. The Company's claims are accessible by secondary roads but some rough-cut access routes will be necessary at more remote sites. The depth of drilling will vary depending on overburden thickness with 250 to 350 feet being the norm in order to intersect diamondiferous kimberlite pipes. The Company previously announced that it intended on beginning core sampling by 1Q03, but with the new drilling rig in the field scheduling can be accelerated. The core drilling will be in phases with 7 to 10 drill holes per month using one drilling rig with three shifts during a 24 hr. period. As additional drilling rigs become available, the Company will bring them on line with a Canadian Dollar drilling budget of $8,000,000.
All core samples will be retained in the Company's secured warehouse facilities. The core will be sent to an independent laboratory for testing. Under the terms of the Claims Purchase and Exploration Rights Agreement with Buckshot Holdings, Ltd. and Commando Holdings, Ltd. there is a 3% NPI royalty on any facetable gemstones discovered on the claims. Both Buckshot and Commando are companies managed by Urban Casavant and beneficially owned by his family. Results of the drill core sampling will be released immediately upon testing. The Company will announce the names and backgrounds of its geologists, drill team experts, and executive advisory members in future news releases.
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). 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.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
Business Wire, Dec 2, 2002
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Dec. 2, 2002
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today that it was bidding for the latest model truck mounted drilling rig.
The Company intends on purchasing the drilling rig following design and maintenance approval by the drill team project manager. The drilling rig and all related equipment (i.e. water truck, water tank, 3000 feet drilling capacity, onsite geologist office and living camp) will be relocated "turn-key" to the Company's mineral claims which are located in proximity to the Fort a la Corne diamond fields in Saskatchewan, Canada.
For the past 10 years, the Fort a la Corne diamond fields have been the subject of joint exploration by De Beers Canada Exploration, Inc., Kennsington Resources Ltd., Cameco Corporation and UEM, Inc. To date, over $20 million (USD) has been spent testing 71 kimberlite bodies which have been described as world class diamondiferous kimberlite pipes.
The Company will use the latest in airborne and surface technologies to test for both magnetic and non-magnetic diamondiferous kimberlite fields using proprietary software. During this phase of exploration, the Company will identify those drill sites which evidence the best profile for diamondiferous kimberlite pipes. With over a 1,000,000 acres of claims, the Company will be able to minimize exploration costs while maximizing exploration results through the use of this state of the art technology.
The new drilling rig will be used by the Company to test core samples in the diamondiferous kimberlite bodies evidencing the best software enhanced profiles. The core samples take anywhere from 3 to 5 drilling days to complete per hole depending upon set-up time and overburden thickness. The Company's claims are accessible by secondary roads but some rough-cut access routes will be necessary at more remote sites. The depth of drilling will vary depending on overburden thickness with 250 to 350 feet being the norm in order to intersect diamondiferous kimberlite pipes. The Company previously announced that it intended on beginning core sampling by 1Q03, but with the new drilling rig in the field scheduling can be accelerated. The core drilling will be in phases with 7 to 10 drill holes per month using one drilling rig with three shifts during a 24 hr. period. As additional drilling rigs become available, the Company will bring them on line with a Canadian Dollar drilling budget of $8,000,000.
All core samples will be retained in the Company's secured warehouse facilities. The core will be sent to an independent laboratory for testing. Under the terms of the Claims Purchase and Exploration Rights Agreement with Buckshot Holdings, Ltd. and Commando Holdings, Ltd. there is a 3% NPI royalty on any facetable gemstones discovered on the claims. Both Buckshot and Commando are companies managed by Urban Casavant and beneficially owned by his family. Results of the drill core sampling will be released immediately upon testing. The Company will announce the names and backgrounds of its geologists, drill team experts, and executive advisory members in future news releases.
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). 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.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
