Braddick Resources Ltd. Options 93 Claims.TORONTO--(BUSINESS WIRE)--Sept. 12, 1995--BRADDICK RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (VSE See DOS/VSE. VSE - Virtual Storage Extended : BRO bro n. pl. bros Slang 1. A brother. 2. Friend; pal. Used as a form of familiar address for a man or boy: So long, bro. ) BRADDICK RESOURCES LTD., is pleased to announce it has optioned 93 claims covering 26.5 square kms in the Grong area, Norway, approximately 600 kms north of Oslo. The claims cover one massive sulphide deposit, the Skiftesmyr and cover the on strike extension of another deposit in an existing and well documented mining area which has been producing ore for over 100 years. As was the case in several other mining camps (ie. Bathurst N.B.) several of the current and past producers in the area commenced production for iron only, then over the years began recovering base metals and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. . As a result, mining techniques were perfected resulting in a skilled labour force and relatively low cost mining. (ie operating costs 100-180 k/ton which is equivalent to approximately $20-$35 Canadian/ton) The grades of the four largest deposits in the general area, two of which are currently mined are as follows: -0-
Status Mine Cu Zn Pb Au Ag
percent percent percent g/t g/t
------ ---------- ---------- ---------- ------ -----
Mined Out Skorovass 1.0 1.5 trace trace trace In Production Joma 1.5 1.45 n/a (x) n/a ? In Production Gjersvik 1.6 0.90 n/a n/a ? Production Closed Skorovatn 1.15 1.80 n/a n/a ?
Skiftesmyr 1.16 1.79 n/a .35 12
The Skiftesmyr deposit is an exhalative deposit with widths ranging from 5 meters to 50 meters. Preliminary information indicates a strike length in excess of 1000 feet and a down dip extent of greater than 1000 feet. The deposit appears to be open in all directions and the potential for a large tonnage deposit along the favourable stratigraphy stratigraphy, branch of geology specifically concerned with the arrangement of layered rocks (see stratification). Stratigraphy is based on the law of superposition, which states that in a normal sequence of rock layers the youngest is on top and the oldest on the appears to be excellent. Milling facilities are readily available in addition to a skilled workforce and adequate power and water. Negotiations are underway to acquire a second massive sulphide deposit in the general area. Under the terms of the agreement, Braddick Resources Ltd. can earn an undivided 50 percent interest by paying the vendor $40,000 cash and delivering 100,000 shares of Braddick. The vendor will retain a 3 percent NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there on a stand alone gold deposit and a 15 percent net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). interest on a base metals deposit. ON BEHALF OF THE BOARD "D. Bartlett" Derek Bartlett - President (x) information available indicates no appreciable credits 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, 416/864-1456 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion