Cypango Ventures - Drilling Intersects Kimberlite Pipe.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 8, 1996-- Cypango Ventures Ltd. and Intertech Minerals Corp. are pleased to announce that the drill on the Afridi Lake Diamond Property Area 5009A 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. has intersected a land based kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipe. Further drilling is continuing to delineate the parameters of the 5009A pipe. The 5009A pipe is the first of a cluster of four (4) targets located and defined by the operator Canamera Geological Ltd. These targets were found by using a dispersion indicator mineral train and geophysics. Drilling on the remaining three (3) targets is scheduled to begin immediately following the initial delineation drilling on the 5009A pipe. Cypango Ventures Ltd. also announces that the financing for $1,495,000 by way of an Offering Memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. issuing 1,300,000 Special Warrants has been fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of , and the company expects timely V.S.E. approval. CYPANGO VENTURES LTD. William D. Friesen, President -0- 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 not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. CONTACT: CYPANGO VENTURES LTD. William D. Friesen, 604/688-6306 1-800-545-7214 604/688-9519 (Fax) |
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