Band-Ore Resources Ltd. continued focus on Timmins Gold Mining Camp.TORONTO--(BUSINESS WIRE)--Nov. 8, 1995--Band-Ore Resources (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :BNDR) Band-Ore Resources Ltd. is pleased to announce an important acquisition located 10 km to the west of the Timmins Mining Camp, the largest gold producing camp in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with over 60,000,000 ounces of gold production to the end of 1994. The Company has entered into an agreement with Holmer Gold Mines Ltd. (HGMyASE) whereby Band-Ore can earn a 70 percent interest in 22 claims leased and patented claims located in Bristol Township by spending $1.0 million on exploration over 6 years. The property covers a regional volcano-sedimentary contact north of the Destor-Porcupine Fault and hosts gold 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. consisting of 720,000 tons grading 0.11 ounces per ton gold (80,000 ounces of gold). The Company believes there is excellent potential to significantly increase reserves along strike and at depth on the Holmer property. Over the last 4 years the Company's geological team has been continually evaluating and acquiring a significant land position covering the favourable geology and mineralization in Bristol, Denton, Thorneloe and Carscallen townships. The geology and style of mineralization on the Company's properties is similar to that which hosts the famous McIntyre and Hollinger mines A mining company called Hollinger Gold Mine was founded by Benny Hollinger in Timmins, Ontario and in 1910 the company was incorporated by Noah Timmins and partners. The main Hollinger Mine operated from 1910 until 1968. in Timmins. The Holmer acquisition is contiguous to the Company's 100 percent owned "Thorne property" which also hosts a known mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. gold zone consisting of 290,000 tons grading 0.074 ounces per ton gold. During 1995, the Company has discovered gold mineralization across a strike length in excess of 4 miles on the Thorne property. This month Band-Ore will commence a $1.0 million, minimum 25,000 foot drilling and exploration program where several high priority drill targets have been identified. A new technology (Real Section I.P.) has been used to identify these new drill targets. Neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. the Holmer acquisition and the Thorne property, Band-Ore has successfully optioned 3 of its properties to major mining companies (Teck Exploration - Bristol Lake property, Hemlo Gold Mines - Thunder Creek property, Cameco Corporation - Wakemac property). Teck, Hemlo and Cameco are continuously evaluating exploration results from the on going exploration programs carried out this year. The Company also wishes to announce that linecutting followed by geophysics and drilling has commenced on the Company's 100 percent owned Ross and Triple "L" properties in Penhorwood township. Both the Ross and Triple "L" properties straddle In the stock and commodity markets, a strategy in options contracts consisting of an equal number of put options and call options on the same underlying share, index, or commodity future. the Destor Porcupine porcupine, in zoology porcupine, member of either of two rodent families, characterized by having some of its hairs modified as bristles, spines, or quills. Fault which trends in a southwesterly south·west·er·ly adj. 1. Situated toward the southwest. 2. Coming or being from the southwest. south·west direction into neighboring Horwood township where a new gold discovery has drawn considerable interest in a similar geological setting to that known on Band-Ore's properties. Band-Ore has retained C.M. Oliver and Company, Ltd. of Toronto to complete a special warrant financing and is arranging for the shares to be listed on a recognized Canadian stock exchange. -0- THE PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD. WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Band-Ore Resources Ltd., Toronto Wayne J. O'Connor, President 416/365-0811 |
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