CROSS CANADA RESOURCES INC. - JOINT VENTURE UPDATE.VANCOUVER, British Columbia--(BUSINESS WIRE)--July 12, 1995-- Cross Canada Resources Inc. ("Cross Canada") announced in June, 1995 that they had entered into a Joint Venture Operation with Driver Resources Inc. to earn a 50 percent interest in the Spanride Property, Northeastern Ontario Northeastern Ontario is the region within the Canadian province of Ontario which lies north and east of Lakes Superior and Huron. Northeastern Ontario consists of Algoma District, Sudbury District, Cochrane District, Timiskaming District, Nipissing District, Manitoulin . Phase I of the project will expend ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. $150,000 in exploration work for the year 1995. Since the announcement Cross Canada has now launched the 1995 Project by sending field crews to start the ground work. The Spanride Property will soon receive near 150 km of exploration including line cutting, total field magnetic, induced polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is and geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. mapping surveys. Stripping and blasting is also forecasted. The grid layout has been determined after a close examination of the geological strike. Phase I covers the nearby area of five separate showings and Phase II will include water coverages, line fill-ins and grid extension expected to be done in winter 1995-96. Several samples from the property were submitted for geo-chemical analysis. The results of these test will be released by the Company shortly. -0- NOTE: Location map available from the Company at the phone number listed. No stock exchange has approved or disapproved the information contained herein. CONTACT: Cross Canada Resources, Vancouver John Samis or Karna MacLeod Mac·leod , John James Rickard 1876-1935. British physiologist. He shared a 1923 Nobel Prize for the discovery and successful clinical application of insulin. , 604/669-8677 or 604/669-1680 (FAX) |
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