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Post by Franko10 ™ on Jan 28, 2005 23:47:53 GMT -5
Temporary Drilling Delay at Fort a la Corne for Casavant Mining Kimberlite International
- BusinessWire
LAS VEGAS, Oct 30, 2003 (BUSINESS WIRE) -- Casavant Mining Kimberlite International (Pink Sheets: CMKM) regrets to inform its shareholders that the company's exploration efforts in Fort a la Corne have been temporarily set back in their schedule for electro magnetic surveying and the drilling which was to commence late last week. The delay is from unexpected magnetic storms caused by "sunspots" or explosions on the sun, as reported by numerous sources recently on the news and Internet. Scientists observed the biggest explosion in 30 years on Tuesday, which produced a particle cloud 13 times larger than Earth and hurtled through the solar system at more than 1 million miles per hour. The geomagnetic storm is expected to disrupt communication satellites, television transmissions, GPS navigation and possibly the flow of electricity in some areas.
The company made a decision to suspend the electro magnetic surveying necessary after receiving notification from Durama Enterprises Limited that space weather forecasters warned of the possibility of a solar storm last week. The exploration contractor was completing GPS navigation and the last of a series of surveys, prior to drilling the sites already chosen for core sampling, before the interruption. The delay was necessary for the company given the circumstances to achieve the best possible results without interference or faulty readings. The pause in field work will give the exploration contractor time to compile and analyze data gathered, to date, and plan additional magnetic surveys to be done. When a more definitive timeline has been established, it will be announced.
Casavant Mining Kimberlite International has retained an additional independent geophysical consulting firm to assist in data analysis and interpretation. This firm has many years of experience in diamond exploration in Saskatchewan.
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.
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
ipr@sasktel.net
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Get breaking news from companies and organizations worldwide.
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Copyright (C) 2003 Business Wire. All rights reserved.
- BusinessWire
LAS VEGAS, Oct 30, 2003 (BUSINESS WIRE) -- Casavant Mining Kimberlite International (Pink Sheets: CMKM) regrets to inform its shareholders that the company's exploration efforts in Fort a la Corne have been temporarily set back in their schedule for electro magnetic surveying and the drilling which was to commence late last week. The delay is from unexpected magnetic storms caused by "sunspots" or explosions on the sun, as reported by numerous sources recently on the news and Internet. Scientists observed the biggest explosion in 30 years on Tuesday, which produced a particle cloud 13 times larger than Earth and hurtled through the solar system at more than 1 million miles per hour. The geomagnetic storm is expected to disrupt communication satellites, television transmissions, GPS navigation and possibly the flow of electricity in some areas.
The company made a decision to suspend the electro magnetic surveying necessary after receiving notification from Durama Enterprises Limited that space weather forecasters warned of the possibility of a solar storm last week. The exploration contractor was completing GPS navigation and the last of a series of surveys, prior to drilling the sites already chosen for core sampling, before the interruption. The delay was necessary for the company given the circumstances to achieve the best possible results without interference or faulty readings. The pause in field work will give the exploration contractor time to compile and analyze data gathered, to date, and plan additional magnetic surveys to be done. When a more definitive timeline has been established, it will be announced.
Casavant Mining Kimberlite International has retained an additional independent geophysical consulting firm to assist in data analysis and interpretation. This firm has many years of experience in diamond exploration in Saskatchewan.
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.
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
ipr@sasktel.net
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at
www.BusinessWire.com.
Copyright (C) 2003 Business Wire. All rights reserved.
