Cypango Ventures - Kimberlite Pipe Intersected on Yamba Lake Property.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 17, 1997-- Cypango Ventures Ltd (VSE See DOS/VSE. VSE - Virtual Storage Extended :CAV (1) (Component Analog Video) See YPbPr. (2) (Constant Angular Velocity) Rotating an optical disc or hard disk at a constant speed. Contrast with "constant linear velocity" (CLV), in which the platter rotates at varying speeds. ) Cypango Ventures Ltd. is pleased to announce that the drill on the Yamba Lake Property in the Lac de Gras Lac de Gras is a lake approximately 300 km north of Yellowknife, Northwest Territories, Canada. Lac de Gras was the centre of the Canadian diamond rush of the 1990s. There are two working diamond mines in the area, Ekati Diamond Mine, and Diavik Diamond Mine. area of the Northwest Territories has intersected a kimberlite pipe (T-10). The Yamba Lake property is located approximately 45 km northwest of the BHP/Dia Met diamond discovery which is scheduled for production next year. Drilling is continuing to delineate the parameters of the T-10 pipe. The T-10 pipe is one of nine (9) well defined targets in the area directly east of the Torrie, Sputnik Sputnik: see satellite, artificial; space exploration. Sputnik Any of a series of Earth-orbiting spacecraft whose launching by the Soviet Union inaugurated the space age. and Sue diamondiferous kimberlite pipes previously discovered on the property in 1993. These targets were defined as a result of an integrated work program which included an extensive bulk heavy mineral till sampling program combined with airborne geophysical surveys. The drill program on the remaining eight (8) targets is ongoing. Cypango Ventures, through a Joint Venture Agreement, has the right to acquire a 51 percent interest on the Yamba Lake Property from Mill City Gold Mining Corp. and Tanqueray Resources Ltd. by incurring $5,000,000 in exploration expenditures on the Property and the issuance of up to 300,000 shares by October 31, 1999. The interest may be increased to 70 percent by completing a Feasibility Study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on the Property by December 31, 2001. CYPANGO VENTURES LTD. William D. Friesen, President 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 604/ 688-9519 (FAX) 1-800-545-7214 |
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