Anglo Minerals announces Indin Lake Gold Project.CALGARY, Alberta--(BUSINESS WIRE)--Dec. 27, 1995--ANGLO MINERALS LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability .(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : ALM)--Globaltex Industries Inc. (the "Company") advises a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. has been signed with Anglo Minerals Ltd. ("Anglo") located in Calgary, Alberta, regarding a joint venture for a programme of exploration and development as recommended by a mining consultant. Anglo can earn a 50 percent interest in the Indin Lake property by expending $550,000 in Phase I and $1,500,000 in Phase II within a two and one-half year period. A formal agreement is expected to be signed shortly. The Indin Lake gold project is situated 130 air miles Air Miles Noun, pl Brit points awarded on buying flight tickets and certain other products which can be used to pay for other flights northwest of Yellowknife, Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. and consists of 37 leases and one mineral claim covering approximately 2,920 acres. The leases have been surveyed and can be renewed every twenty-one years. The earliest lease expires in the year 2006. There are two vertical shafts, the Indigo and North Inca that are 525 feet and 320 feet deep respectively. A permanent camp designed for 20 men has been erected and a three-compartment shaft accesses more than 3000 feet of underground lateral development. A considerable amount of mining equipment, track, pipe, operating supplies, assay lab, fuel and spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. is on site. Diamond drilling, both underground and surface, totaling some 77,000 feet, has indicated ore reserves of 210,500 tons grading 0.482 oz. gold per ton. A geophysical survey has outlined 21 potential targets for exploration over a length of 6.5 km (4 miles) on the property. The property is adjacent to a major gold mine producer who have invested in excess of 150 million dollars in an open pit gold mine. -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: ANGLO MINERALS LTD. Todd Dean Montgomery, 306/693-7577 306/693-7299 (FAX) |
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