Ambra Announces Mining and Petroleum Update.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 12, 2002 Ambra Resources Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABRG): Ambra Mining Division In a News Release (August 1, 2002) Ambra announced the purchase of mining claims in the Nelson Mining Division of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . In a recent News Release, Sultan SULTAN. The title of the Turkish sovereign and other Mahometan princes. Minerals whose property is next to our claims has announced it has entered into an agreement with Kinross Gold Kinross Gold Corporation (TSX: K, NYSE: KGC) is a Canadian gold mining company. It is the seventh largest primary gold producer in the world.[1] See also
1. ^ Kinross Gold. Corporation a major gold producer. The terms of the agreement will be for Kinross to fund not less than $500,000 in work program expenditures by December 31, 2002 and an additional $500,000 by September 4, 2003. This would give Kinross a 60% working interest in the Kena Gold -- Copper property owned by Sultan Minerals. In order to maintain and exercise the Option to earn its 60% interest, Kinross is required to incur and fund a further expenditure of $9 million over five years ending September 4, 2007. This is clearly significant to Ambra who will be doing work programs in the same area. For a major producer to fund a large program suggests this area is heavily mineral laden. Ambra Petroleum Division Geology Report - Spent the weekend here at the well. We have had to take quite a bit of time to position the drill bit. The bit has been wanting to drop angle and we have had to spend time to "slide" up (orienting o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. the bent motor assembly up and then just rotating ro·tate v. ro·tat·ed, ro·tat·ing, ro·tates v.intr. 1. To turn around on an axis or center. 2. the motor). It was very slow going, making just 4 feet per hour, compared to 30 feet per hour while we are rotating the drill pipe and the motor at the same time. Part of our concern has been that we wanted to level off at the top of the Sheri zone, but instead, we dropped right through it. But what was worse is that we had to keep sliding just to keep the bit from going into an uncontrollable drop. We have it under control now, and we have been rotating ahead all night. We are out 2280' and we expect to drill into a big fault system in about 100 more feet. Hopefully, it will be filled with oil... The Directors, Management and Staff of Ambra Resources Group Inc. would like to extend their sincere sympathy to all who lost loved ones loved ones npl → seres mpl queridos loved ones npl → proches mpl et amis chers loved ones love npl on September 11, 2001. We will always remember. By the Board of Directors, Ambra Resources Group Inc. |
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