Printer Friendly
The Free Library
19,573,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Casavant Mining Kimberlite International Announces Purchase of 25 Mineral Claims and Ground Magnetic Survey Update.


Business Editors

LAS VEGAS--(BUSINESS WIRE)--Sept. 3, 2003

Casavant Mining Kimberlite kimberlite: see diamond.
kimberlite
 or blue ground

Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix.
 International (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:CMKM) is pleased to announce the purchase of 25 mineral claims from North Sask Ventures Limited (a private company), approximately 10,912 acres in the Fort a la Corne area. After airborne magnetic surveys were conducted in the Fort a la Corne area, most of these claims were staked by previous claim holders, due to anomalies that were acquired from data taken from the airborne magnetic surveys. Two of the 25 claims are adjacent to known diamond-bearing property operated by Kensington (KRT KRT Knight Ridder/Tribune
KRT Keratin
KRT Knights of the Round Table (Diablo gaming guild)
KRT Khartoum, Sudan - Civil (Airport Code)
KRT Kleene's Recursion Theorem
), Cameco, DeBeers Joint Venture in Fort a la Corne. Claim #S-135017 is south of kimberlite body #152 and claim #S-15016 is north of kimberlite body #168 both which are operated by the joint venture. Claim #S-135018 is adjacent and north of Shore Gold's (SGF SGF Svenska Golfförbundet (Swedish Golf Federation)
SGF Société Générale de Financement (Quebec, Canada)
SGF Smart Game Format
SGF Simulated Gastric Fluid
) Birch Lake Birch Lake may refer to: Cities, towns, townships etc.
  • Birch Lake Township in Cass County, Minnesota
Lakes
  • Canada
  • Birch Lake, a lake in Ontario
 kimberlite. The remaining mineral claims are strategically located and are currently surrounded by numerous other claims held by CMKI CMKI Christine M Kleinert Institute
CMKI Casavant Mining Kimberlite International
 and other claim holders in the area.

Durama Enterprises Ltd. which was recently awarded the mining and exploration contract for CMKI have mobilized their crews and are currently working on the first phase of the contract. Durama has obtained and is authorized work permits which were issued by the Saskatchewan Environment approved for these 25 mineral claims and the previously announced 30 priority targets selected by senior project geologist, Dr. Mark Hutchison. These work permits are issued for line cutting and ground geophysics which include magnetic surveys, as well as gravity surveys. Seven targets of the first 55 selected have had ground magnetics completed by Durama on them with a gravity survey follow-up to commence shortly. Results for the first 7 targets are expected later this week or the first of next week. If the gravity survey is confirmed positive, the target will be drill-ready.

Casavant Mining Company Overview

Casavant Mining is a mining and exploration company with mineral claims in Fort a la Corne which is known for its diamondiferous kimberlites for being some of the largest in the world. The Company currently has approximately 609,361 acres of mineral claims with options for approximately 1.9 million acres total in Fort a la Corne which lie most contiguously with known diamondiferous kimberlites owned by other operators in the region. Within the past several months, senior project geologist, Dr. Mark Hutchison has spent time in the field delineating targets and has identified 30 targets using certain criteria known for locating kimberlite bodies from regional aeromagnetic data and from low level, high resolution data collected by private enterprise. While Casavant Mining continues to focus on Fort a la Corne, the Company is currently negotiating a target acquisition elsewhere in Canada, also at this time. A small scale exploration program has now commenced, looking at the geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of  of heavy mineral samples obtained from a very promising and poorly developed target area.

Casavant Mining Zinc Claims Overview

The Company also has zinc claims that include the original George Lake zinc deposit (also known as Brakewell Lake). The George Lake area has had numerous diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral , airborne electro magnetic surveying, geological, magnetometor, surficial sur·fi·cial  
adj.
Of, relating to, or occurring on or near the surface of the earth.



[surf(ace) + (superf)icial.]

Adj. 1.
 geology and soil sample surveys conducted on these claims, from the late 1960's to the early 1990's. After diamond drilling was completed in 1969 to 1970, an ore reserve calculation was released and recorded on Saskatchewan mineral deposit index #0663 of the Saskatchewan industry and resources website. The ore reserve was stated and estimated to be 5,000,000 tons of low grade reserves at 1% to 2.65% and 2,900,000 tons high grade reserves at 2% to 3.67%.

This information was taken from a third party from a mineral property report from the Saskatchewan industry resources website, therefore, it cannot be guaranteed that this information is, in fact, accurate. It can be accessed by going to www.ir.gov.sk.ca (click) department data bases, (click) mineral resource data bases, (click) Saskatchewan mineral deposit index, (click) search the mineral deposit index, (enter) 0663 in smdi field and (enter) George Lake in location field and (press) submit. (http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/Default.asp?ID=0663)

There is no guarantee that drilling or further exploration will produce any economic benefit to the company or the shareholders of the company.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations Cash flow from operations

A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses
 and the ability of the company to manage its operations.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 3, 2003
Words:811
Previous Article:Palcan Develops Stationary 2-Kilowatt PEM Fuel Cell System For Growing Telecommunications And UPS Market; Fuel Cell Can Use Sun & Wind to Provide...
Next Article:Winbond Introduces New Single Channel Voice CODEC Chip; Chip is Part of Winbond's Telephony IC Family.



Related Articles
Mining for diamonds.
Casavant Mining Kimberlite International Announces Letter of Intent to Acquire Diamond Mining Company and Shareholder Meeting January 15, 2003 in Las...
Casavant Mining Kimberlite International Announces Acquisition of Claim and Aerial Survey Update.
Casavant Mining Kimberlite International Announces Initial Report on Exploration Project at Fort a la Corne.
Casavant Mining Kimberlite International Announces $3,000,000 Contract for Mineral Exploration and Drill Contract Program.
Casavant Mining Kimberlite International Recent Developments and X Dividend Date, September 12, and September 19, 2003.
Casavant Mining Kimberlite International Announces Diamond Drill Core Sampling To Commence In October.
Kirkland Lake region target of diamond exploration; Dianor Resources encouraged by diamond find in northeast.
CMKM Diamonds Inc. Successfully Negotiated Definitive Agreement for Major Airborne Survey.
U.S. Canadian Minerals Inc. & CMKM Diamonds Inc. Announces Joint Venture.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles