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Post by Franko10 ™ on Jan 28, 2005 23:34:39 GMT -5
Casavant Mining Kimberlite International Recent Developments and X vidend Date, September 12, and September 19, 2003.
- BusinessWire
LAS VEGAS, Sep 12, 2003 (BUSINESS WIRE) -- Casavant Mining Kimberlite International (Pink Sheets:CMKM) announces that all shareholders who hold CMKM stock through close of market Friday, September 12, 2003 will receive one additional CMKM share of stock (2-1 for one forward stock split) for every share that they hold through September 12, 2003, the X dividend date, and be paid extra shares by September 29, 2003.
Casavant Mining Kimberlite International Board of Directors has also approved the spin-out of the corporate zinc deposits at George Lake, Saskatchewan, its wholly owned subsidiary Casavant Mining International, Inc. (CMI). Shareholders of record who hold CMKM stock through close of market on Friday, September 19, 2003 will receive one share of CMI stock for every share of CMKM stock that they hold through this date. The payable date for the CMI shares of stock will be Friday, October 3, 2003. CMKM shareholders of record at the time will receive one share in CMI stock for every share they hold and will continue to own their CMKM stock. This spin-out will enable CMKM to concentrate on diamond exploration and development at Fort a la Corne, Saskatchewan.
Due to recent developments of the company, several capital and equity investors have shown interest in Casavant Mining Kimberlite International. These investors represent a large number of fund managers and capital resources who are interested in making direct equity investments in public and private companies. A small scale exploration program had commenced, looking at the geochemistry of heavy mineral samples obtained from a very promising and poorly developed tarDiget area. While Casavant Mining continues to focus on Fort a la Corne, the Company was successful and completed negotiations for this acquisition of claims elsewhere in Canada. Details are expected to be announced shortly.
Durama Enterprises Ltd., which was recently awarded the mining and exploration contract for CMKI, have mobilized their crews and are currently working on the first phase of the contract. Durama has obtained and is authorized work permits which were issued by the Saskatchewan Environment approved for these 25 mineral claims and the previously announced 30 priority targets selected by senior project geologist, Dr. Mark Hutchison. These work permits are issued for line cutting and ground geophysics which include magnetic surveys, as well as gravity surveys. Seven targets of the first 55 selected have had ground magnetics completed by Durama on them. Work conditions remain favorable and continue on the Fort a la Corne claims and that the recent ground magnetic surveys completed on the 7 claims have located and verified anomalies, which were picked from a low level airborne, high resolution survey, completed in 1993. The claims have remained dormant for the last ten years, due to the lack of capital funding of the previous claim holders and the high expense of mining explorations and additional surveys needed to verify the anomalies before advancing to the next stage of diamond core sampling. To further confirm each of the priority anomalies from these ground magnetic surveys conducted, the initial results have indicated five of the seven targets, have been selected in which gravity data will be collected to assist in the evaluation. If the gravity survey is confirmed positive, the target will be drill-ready. Exploration work, ground magnetic surveying and gravity surveying, continue on the 25 mineral claims recently purchased from North Sask Ventures Limited (a private company), approximately 10,912 acres in the Fort a la Corne area. Two of the 25 claims are adjacent to known diamond-bearing property operated by Kensington (KRT), Cameco, DeBeers Joint Venture in Fort a la Corne. Claim #S-135017 is south of kimberlite body #152 and claim #S-15016 is north of kimberlite body #168 both which are operated by the joint venture. Claim #S-135018 is adjacent and north of Shore Gold's (SGF) Birch Lake kimberlite. The remaining mineral claims are strategically located and are currently surrounded by numerous other claims held by CMKI and other claim holders in the area.
Casavant Mining Company Overview
Casavant Mining is a mining and exploration company with mineral claims in Fort a la Corne which is known for its diamondiferous kimberlites for being some of the largest in the world. The Company currently has approximately 609,361 acres of mineral claims with options for approximately 1.9 million acres total in Fort a la Corne which lie most contiguously with known diamondiferous kimberlites owned by other operators in the region. Within the past several months, senior project geologist, Dr. Mark Hutchison has spent time in the field delineating targets and has identified 30 targets using certain criteria known for locating kimberlite bodies from regional aeromagnetic data and from low level, high resolution data collected by private enterprise.
Casavant Mining Zinc Claims Overview
The Company also has zinc claims that include the original George Lake zinc deposit (also known as Brakewell Lake). The George Lake area has had numerous diamond drilling, airborne electromagnetic surveying, geological, magnetometor, surficial geology and soil sample surveys conducted on these claims, from the late 1960's, to the early 1990's, after diamond drilling was completed in 1969 to 1970, an ore reserve calculation was released and recorded on Saskatchewan mineral deposit index #0663 of the Saskatchewan industry and resources website. The ore reserve was stated and estimated to be 5,000,000 tons of low grade reserves at 1% to 2.65% and 2,900,000 tons high grade reserves at 2% to 3.67%.
This information was taken from a third party from a mineral property report from the Saskatchewan industry resources website, therefore, it cannot be guaranteed that this information is, in fact, accurate and can be accessed by going to www.ir.gov.sk.ca (click) department data bases, (click) mineral resource data bases, (click) Saskatchewan mineral deposit index, (click) search the mineral deposit index, (enter) 0663 in smdi field and (enter) George Lake in location field and (press) submit. (http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/Default.asp?ID=0663)
Durama Enterprises Company Overview
Durama Enterprises is an established exploration service contractor which has been in business since 1979. Randy Studer, A.Sc.T. and Duane Studer, A.Sc.T., established Durama Enterprises after both had completed courses in mineral resource technology. The Company was built on a family history of active participation in the exploration and development of mineral properties in Northern Saskatchewan. Randy and Duane Studer grew up in La Ronge, in the heart of the La Ronge Gold Belt and benefit from the experience and counsel of Vernon Studer who has been involved in the exploration for gold and other minerals in the north for more than 40 years. The Company has been engaged in locating and developing properties in search for precious metals, base metals and diamonds in Northern Saskatchewan, Manitoba and Northwestern Ontario. In the process, the Company has trained an experienced work force with as many as 30 people employed in various fields.
There is no guarantee that drilling or further exploration will produce any economic benefit to the company or the shareholders of the company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
Copyright (C) 2003 Business Wire. All rights reserved.
SOURCE: Casavant Mining Kimberlite International
Casavant Mining Kimberlite International
Diamonds Hotline
Melvin O'Neil, 306-752-3755
Toll free in U.S./Canada: 877-752-3755
Fax: 306-752-3754
E-mail: ipr@sasktel.net
www.businesswire.com
- BusinessWire
LAS VEGAS, Sep 12, 2003 (BUSINESS WIRE) -- Casavant Mining Kimberlite International (Pink Sheets:CMKM) announces that all shareholders who hold CMKM stock through close of market Friday, September 12, 2003 will receive one additional CMKM share of stock (2-1 for one forward stock split) for every share that they hold through September 12, 2003, the X dividend date, and be paid extra shares by September 29, 2003.
Casavant Mining Kimberlite International Board of Directors has also approved the spin-out of the corporate zinc deposits at George Lake, Saskatchewan, its wholly owned subsidiary Casavant Mining International, Inc. (CMI). Shareholders of record who hold CMKM stock through close of market on Friday, September 19, 2003 will receive one share of CMI stock for every share of CMKM stock that they hold through this date. The payable date for the CMI shares of stock will be Friday, October 3, 2003. CMKM shareholders of record at the time will receive one share in CMI stock for every share they hold and will continue to own their CMKM stock. This spin-out will enable CMKM to concentrate on diamond exploration and development at Fort a la Corne, Saskatchewan.
Due to recent developments of the company, several capital and equity investors have shown interest in Casavant Mining Kimberlite International. These investors represent a large number of fund managers and capital resources who are interested in making direct equity investments in public and private companies. A small scale exploration program had commenced, looking at the geochemistry of heavy mineral samples obtained from a very promising and poorly developed tarDiget area. While Casavant Mining continues to focus on Fort a la Corne, the Company was successful and completed negotiations for this acquisition of claims elsewhere in Canada. Details are expected to be announced shortly.
Durama Enterprises Ltd., which was recently awarded the mining and exploration contract for CMKI, have mobilized their crews and are currently working on the first phase of the contract. Durama has obtained and is authorized work permits which were issued by the Saskatchewan Environment approved for these 25 mineral claims and the previously announced 30 priority targets selected by senior project geologist, Dr. Mark Hutchison. These work permits are issued for line cutting and ground geophysics which include magnetic surveys, as well as gravity surveys. Seven targets of the first 55 selected have had ground magnetics completed by Durama on them. Work conditions remain favorable and continue on the Fort a la Corne claims and that the recent ground magnetic surveys completed on the 7 claims have located and verified anomalies, which were picked from a low level airborne, high resolution survey, completed in 1993. The claims have remained dormant for the last ten years, due to the lack of capital funding of the previous claim holders and the high expense of mining explorations and additional surveys needed to verify the anomalies before advancing to the next stage of diamond core sampling. To further confirm each of the priority anomalies from these ground magnetic surveys conducted, the initial results have indicated five of the seven targets, have been selected in which gravity data will be collected to assist in the evaluation. If the gravity survey is confirmed positive, the target will be drill-ready. Exploration work, ground magnetic surveying and gravity surveying, continue on the 25 mineral claims recently purchased from North Sask Ventures Limited (a private company), approximately 10,912 acres in the Fort a la Corne area. Two of the 25 claims are adjacent to known diamond-bearing property operated by Kensington (KRT), Cameco, DeBeers Joint Venture in Fort a la Corne. Claim #S-135017 is south of kimberlite body #152 and claim #S-15016 is north of kimberlite body #168 both which are operated by the joint venture. Claim #S-135018 is adjacent and north of Shore Gold's (SGF) Birch Lake kimberlite. The remaining mineral claims are strategically located and are currently surrounded by numerous other claims held by CMKI and other claim holders in the area.
Casavant Mining Company Overview
Casavant Mining is a mining and exploration company with mineral claims in Fort a la Corne which is known for its diamondiferous kimberlites for being some of the largest in the world. The Company currently has approximately 609,361 acres of mineral claims with options for approximately 1.9 million acres total in Fort a la Corne which lie most contiguously with known diamondiferous kimberlites owned by other operators in the region. Within the past several months, senior project geologist, Dr. Mark Hutchison has spent time in the field delineating targets and has identified 30 targets using certain criteria known for locating kimberlite bodies from regional aeromagnetic data and from low level, high resolution data collected by private enterprise.
Casavant Mining Zinc Claims Overview
The Company also has zinc claims that include the original George Lake zinc deposit (also known as Brakewell Lake). The George Lake area has had numerous diamond drilling, airborne electromagnetic surveying, geological, magnetometor, surficial geology and soil sample surveys conducted on these claims, from the late 1960's, to the early 1990's, after diamond drilling was completed in 1969 to 1970, an ore reserve calculation was released and recorded on Saskatchewan mineral deposit index #0663 of the Saskatchewan industry and resources website. The ore reserve was stated and estimated to be 5,000,000 tons of low grade reserves at 1% to 2.65% and 2,900,000 tons high grade reserves at 2% to 3.67%.
This information was taken from a third party from a mineral property report from the Saskatchewan industry resources website, therefore, it cannot be guaranteed that this information is, in fact, accurate and can be accessed by going to www.ir.gov.sk.ca (click) department data bases, (click) mineral resource data bases, (click) Saskatchewan mineral deposit index, (click) search the mineral deposit index, (enter) 0663 in smdi field and (enter) George Lake in location field and (press) submit. (http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/Default.asp?ID=0663)
Durama Enterprises Company Overview
Durama Enterprises is an established exploration service contractor which has been in business since 1979. Randy Studer, A.Sc.T. and Duane Studer, A.Sc.T., established Durama Enterprises after both had completed courses in mineral resource technology. The Company was built on a family history of active participation in the exploration and development of mineral properties in Northern Saskatchewan. Randy and Duane Studer grew up in La Ronge, in the heart of the La Ronge Gold Belt and benefit from the experience and counsel of Vernon Studer who has been involved in the exploration for gold and other minerals in the north for more than 40 years. The Company has been engaged in locating and developing properties in search for precious metals, base metals and diamonds in Northern Saskatchewan, Manitoba and Northwestern Ontario. In the process, the Company has trained an experienced work force with as many as 30 people employed in various fields.
There is no guarantee that drilling or further exploration will produce any economic benefit to the company or the shareholders of the company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
Copyright (C) 2003 Business Wire. All rights reserved.
SOURCE: Casavant Mining Kimberlite International
Casavant Mining Kimberlite International
Diamonds Hotline
Melvin O'Neil, 306-752-3755
Toll free in U.S./Canada: 877-752-3755
Fax: 306-752-3754
E-mail: ipr@sasktel.net
www.businesswire.com
