Big Red Diamond Corporation and AntOro Resources Inc. Announces the Joint Acquisition of the Foleyet Property.MONTREAL -- Big Red Diamond Corporation ("BRDC BRDC British Racing Drivers' Club (UK) BRDC British Racing Drivers' Club BRDC Bovine Respiratory Disease Complex BRDC Biotechnology Research and Development Corporation (Peoria, Illinois) ")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DIA) and AntOro Resources Inc. (TSX VENTURE:ORE) are pleased to announce the acquisition of a portfolio of diamond prospect properties, called the "Foleyet" project, made up of 18 claim blocks covering a total approximate area of 1,152 hectares.The properties are located within the Carty, Foleyet, Horwood, Ivanhoe, Keith, Lemoine, Lincoln, Muskego, Paul, Raney, Evans and Warren Townships all within the Patricia Mining division of Ontario. The properties were acquired from Robert Robitaille and associates against the issuance of 750,000 common treasury shares of BRDC, 750,000 common treasury shares of AntOro, a cash payment of $4,500 and assuming a total NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there (or the diamond equivalent) of 2.2%, one percent (1.0%) of which can be bought back against a total cash payment of $1,000,000. Following the signature of the contract, both companies hold 50% of the project and Big Red Diamond is deemed the operating partner; furthermore, each company also share half of the NSR obligations of 1.2% and the 1% buyback. These properties were staked based on the processing of data contained within the Natural Resources Canada Natural Resources Canada (NRCan) is a department of the government of Canada responsible for natural resources, energy, minerals and metals, forests, earth sciences, mapping and remote sensing. 2001 "Kapuskasing Structure Geophysical Data Set, Kapuskasing-Chapleau Aeromagnetic Survey An aeromagnetic survey is a common type of geophysical survey carried out using a magnetometer aboard or towed behind an aircraft. The principal is similar to a magnetic survey carried out with a hand-held magnetometer, but allows much larger areas of the Earth's surface to be ".This survey was flown with 200m flight line spacing and a preliminary interpretation of the Mag maps in the area of interest was made by Scott Hogg & Associates Ltd, Toronto, Ontario.They identified anomalies which could be related with small intrusive bodies such as kimberlites of dimensions in the hundreds of metres in diameter.The promising anomalies include two magnetic susceptibility Magnetic susceptibility The magnetization of a material per unit applied field. It describes the magnetic response of a substance to an applied magnetic field. lows that seem to suggest remnant magnetization and others that are well isolated and contrast well with their surrounding magnetic geological environment. These geophysical anomalies are located directly up-ice and are coincident with the top two recommended areas, be it the Shawmere and Foleyet areas, mentioned in the 2001 Chapleau-Foleyet Treasure Hunt Kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. Indicator Study.These areas contain anomalous number of kimberlite indicator minerals such as G10 and G9 garnets Garnets may have the following meanings
Both companies will be following-up on these targets using reconnaissance overburden sampling surveys. The project represents an important addition to an established strategic land position in this diamond-exploration area. This press release has been reviewed by Mr. Benoit M. Violette, geo., a qualified person as per National Instrument 43-101.Mr. Violette is a director of both companies. 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 adequacy or accuracy of this release. ANTORO RESOURCES INC. (TSX VENTURE:ORE) Big Red Diamond Corporation (TSX VENTURE:DIA) |
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