Cathedral Stakes and Options Out Blue Mountain Prospect, Guyana to BHP Minerals.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Oct. 18, 1996-- CATHEDRAL GOLD CORPO (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAT.) Cathedral Gold Corp. (CAT-TSE) and BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. Minerals International Exploration Inc. (BHP) have reached an agreement whereby BHP may acquire a 65 percent interest in Cathedral's recently granted Blue Mountain Prospecting License (P.L.) in Guyana, by posting a bond, making rental payments totaling US$12,000 and by spending US$4.5 million before September 12, 2001. BHP can elect to provide complete project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. to earn a further 10 percent interest. A general review of geological information in Guyana by Cathedral geologists revealed a known nickel laterite laterite Soil layer rich in iron oxide and sometimes aluminum, derived from a wide variety of rocks by leaching. It forms in tropical and subtropical regions where the climate is humid. occurrence that had not been tested by modern methods. A strong magentic anomaly is present on the property. Cathedral remains firmly focused on gold exploration in the Kaburi- Eldorado District near the Omai Mine and has therefore immediately optioned out this property. BHP has agreed to expand their ongoing airborne survey area to include Cathedral's 26,000 acre gold property in the Kaburi-Eldorado District but no property agreement on this area has been made by Cathedral with BHP. The Blue Mountain Prospecting License covers 57 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
BHP has commenced an airborne magnetic and radiometric survey over the Blue Mountain P.L. and plans a stream sediment survey in 1996. Cathedral has commenced a drilling program on its Kaburi Eldorado property Guyana located 35km (20 miles) norhtwest of the Omai mine. CONTACT: Cathedral Gold Corporation R. Michael Jones Mike or Michael Jones may refer to: In sports:
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