Cumberland Resources - $2.7 Million Meadowbank Program Planned.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 11, 1997-- Cumberland Resources (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CBD (Component Based Development) Building applications with components (objects). See component software. CBD - component based development .) CUMBERLAND RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (CBD-TSE) announces approval of the first phase of the planned $2.77 million 1997 exploration program on its 60 percent owned and operated Meadowbank Gold Project (40 percent Comaplex Minerals Corp.) starting in the first week of April 1997. Resource calculations computed in late 1996 estimated a project resource of 1.1 million ounces (660,000 oz. net to Cumberland, 440,000 net to Comaplex). The Company will begin its 1997 drill campaign at the beginning of April. Phase 1 drilling (5,500 m with two rigs) will target the expansion of the Goose Island Goose Island may refer to: Places in Australia
1 Town (1990 pop. 29,060), Porter co., NW Ind., a suburb of Gary, on Lake Michigan; inc. 1959. Deposit (710,560 oz. undiluted with 1 oz. cut) and test deeper target potential in the 800 m long area separating the two deposits. In addition, high priority exploration targets will be drill tested. A Phase II (5,500 m) land based drill program is planned for the summer months and will be designed to test the expansive North Portage area where preliminary drilling in 1996 outlined a smaller resource (77,600 oz.) which is open for continued expansion. In addition surface grab sampling up to 200 m to the north of this smaller resource has returned up to 56 g/T and indicates further potential for additional discoveries in this area. The Company has set a minimum target resource of 1.5 million ounces (900,000 oz. net to Cumberland) for the 1997 campaign (current resources stand at 1.1 million oz.) at which point the Company has determined the project could yield a positive pre-feasibility study. Management believes that, considering the extensive untested depth potential of the gold trend, a multi million ounce resource can ultimately be delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. . Cumberland Resources is a Canadian mineral exploration company with two emerging gold projects, Meadowbank (60 percent) and Meliadine (50 percent) located in the Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. . Cumberland is also actively exploring for base-metals in the N.W.T., Northwestern Ontario Northwestern Ontario is the region within the Canadian province of Ontario which lies north and west of Lake Superior, and west of Hudson Bay and James Bay. It includes most of subarctic Ontario. and Portugal. For further information, please contact Mr. Glen Dickson, President, or Mr. Kerry Curtis, Vice President, Corporate Development. CUMBERLAND RESOURCES LTD. Kerry M. Curtis, B.Sc., P.Geo. Vice President, Corporate Development CONTACT: Cumberland Resources Ltd. Mr. Glen Dickson, 604/608-2557 604/608-2559 (FAX) or Cumberland Resources Ltd. Mr. Kerry Curtis, 604/608-2557 604/608-2559 (FAX) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion