BLUE EMERALD RESOURCES INC. OPTIONS GOLD BASE METAL PROPERTY.TORONTO, ON--(BUSINESS WIRE)--MAY 3, 1995--BLUE EMERALD RESOURCES (VSE See DOS/VSE. VSE - Virtual Storage Extended : BER (1) (Basic Encoding Rules) A set of encoding rules for ASN.1 notation, which is a method for defining data structures. See ASN.1. (2) (Bit Error Rate) The average number of bits transmitted in error. See BERT. 1. ) Derek Bartlett, President of Blue Emerald Resources Inc. (Blue Emerald) is pleased to announce that the company has optioned 2,880 acres (72 units) in Frechette Township from a private company. The claims are located approximately 50 miles north of Sudbury, Ontario. Under the terms of the agreement, Blue Emerald may earn an undivided 65 percent interest in the 72 units by paying the vendor $5000 on execution of the agreement and a further $10,000 on or before July 31st, 1995 together with the delivery of 100,000 shares of Blue Emerald. The vendor will retain a 3 percent NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there which can be at Blue Emeralds' option reduced to a 1 percent NSR upon a payment to the vendor of $1 million, all of which is subject to all regulatory approvals. Previous diamond drilling completed in 1954 and 1968 revealed a "syenite syenite (sī`ənīt), coarse-grained igneous rock, similar in appearance and composition to granite. Unlike granite, it contains little or no quartz. The chief minerals in syenite are the feldspars, with mica, hornblende, and pyroxene. porphyry" assaying .40 oz/ton gold over a 12 ft interval. This gold intersection occurred within a 230 ft. interval which assayed .65 percent copper and appears to be open in all directions. There is very little evidence of work completed in order to follow up the gold intersection and it is the company's belief that the thrust of the historical work was for base metals. A summer drill program is planned to evaluate the gold bearing syenite porphyry as well as the tonnage and grade potential of the copper mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . A private placement has been completed which involved the issue of one million units at $.15 each. Each unit will consist of one share and one warrant to purchase an additional share for $.25 for a two year period. The Company is currently evaluating a number of projects in Northern Ontario and Labrador. -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 neither approved nor disapproved the information contained herein. CONTACT: Derek Bartlett, President or Richard Nemis, Chairman Tel: (416) 864-1456 Fax: (416) 947-0807 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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