Aurora Signs Agreement with Fieldex Temiscamingue Nickel-Copper-PGM Project, Quebec.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 31, 2004 Aurora Platinum Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ARP) announced that it has entered into an agreement with Fieldex Exploration Inc. for exploration of the Temiscamingue Nickel-Copper-PGM Project in western Quebec. Under the terms of the agreement, the parties will form a 50/50 regional joint venture and contribute their respective mineral claims, which cover a total of 36,000 hectares. Each party will fund 50% of expenditures over a five-year period. The Joint Venture is subject to due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the approval of each party's Board of Directors. In addition, in the event the Joint Venture identifies diamond targets, such targets will be offered to Superior Diamonds Inc., pursuant to agreements between that company and Aurora, in exchange for a 2% gross overriding royalty payable to the Joint Venture. The Temiscamingue Project area is located in the Belleterre - Angliers greenstone belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. , part of the Pontiac Subprovince in the eastern Superior Province of the Canadian Shield Canadian Shield or Laurentian Plateau (lôrĕn`chən), U-shaped region of ancient rock, the nucleus of North America, stretching N from the Great Lakes to the Arctic Ocean. . Belleterre-Angliers is the southernmost of the Superior Province greenstone belts, lying just south of the Abitibi greenstone belt The Abitibi greenstone belt is a 2,800-2,600 million year old greenstone belt that spans across the Ontario-Quebec border in Canada. It is mostly made of volcanic rocks, but also includes ultramafic rocks, mafic intrusions, granitoid rocks, and early and middle Precambrian and north of the Grenville Front in the Temiscamingue area of Quebec. Within the belt are a number of Nickel-Copper-PGM sulphide occurrences associated with gabbroic intrusive rocks, including Aurora's Midrim, Lac Croche, Alotta, Delphi, and Patry properties. Other properties of note within the belt include the Lac Kelly, La Force and Lorraine deposits. The properties lie along the northeastern extension of a well-defined Nickel-Copper-PGM rich metallotec that also hosts orebodies at Temagami Copper, Kaniche, and the Sudbury Igneous Complex The Sudbury Igneous Complex is a 1844 million year old impact melt sheet in Greater Sudbury, Northern Ontario, Canada. It is part of the Sudbury Basin impact structure, and is classified as a lopolith. . An aggressive multi-phase exploration approach will be undertaken for the Temiscamingue Project. Initial phase activity involved the awarding to Terraquest Ltd. of an airborne gradient magnetometer survey currently being carried out over the eastern section of the greenstone belt. Aurora's previous airborne surveys in 2000 and 2002 covered approximately half of the belt, while the new survey will effectively complete airborne coverage of the remainder. With this database, and in association with detailed property and reconnaissance geological and geochemical databases, new areas will be targeted for follow-up exploration activities. Target areas will include, but not be restricted to, the metallotec corridor in search of new Nickel-Copper-PGM deposits, as well as gold within the Belleterre gold district. Aurora Platinum Corp. is actively exploring for Nickel-Copper-PGM deposits in Ontario and Quebec. The Company has an option/joint venture with Falconbridge Limited in the Sudbury District (Foy and Footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. properties) and option/joint ventures with Inco Limited including the AEM AEM Applied and Environmental Microbiology (journal) AEM Association of Equipment Manufacturers AEM Academic Emergency Medicine (journal) AEM Agnico-Eagle Mines Limited AEM Advanced Engine Management Project in northwestern Ontario and the AEM Abitibi Project in eastern Ontario/western Quebec and the Nickel Lake Project in the Sudbury District. Aurora is also aggressively exploring a number of 100% owned properties in northwestern Ontario and in Quebec. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. |
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