DYNACOR AIMS AT 2,000 OUNCES OF GOLD IN 1995.MONTREAL, QUEBEC--(BUSINESS WIRE)--JUNE 27, 1995--DYNACOR MINES (ME:DYN dyn abbr. dyne ) Dynacor Mines Inc. announces that it has received approval from the Quebec Securities Commission for a $125,000 to $500,000 flow-through share offering through a private placement memorandum private placement memorandum The documentation that provides information on a new security issue. It is similar to but less extensive than a prospectus. of agreement. The money will be used to carry out an already targeted exploration program on the Siscoe gold property near Val-d'Or. Priced at $1,000 each unit is comprised of 2,000 flow through shares, 500 common shares and 1,250 share purchase warrants. Each warrant enables its holder to subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; one common share of the Company at $0.60 per share until November 26, 1996. Between 312,500 and 1,250,000 new shares will thus be issued. The purpose of the program is to increase minable reserves to approximately 15,000 ounces. The exploration budget is mainly focused on definition drilling on the Roger zone and other surface targets. Part of the work also pave PAVE Cardiology A clinical trial–Post AV Node Ablation Evaluation the way for more important in- depth exploration. On the Roger zone, which regroups the Main and Siscoe veins, previous drilling has intersected intersecting in·ter·sect v. in·ter·sect·ed, in·ter·sect·ing, in·ter·sects v.tr. 1. To cut across or through: The path intersects the park. 2. values. The best assays were as follows:
Location Hole number Ounces of gold Width in feet
Au oz/ton
Main vein 94-01 0.17 15
including 0.42 5
94-03 0.15 10
and 0.71 5
Siscoe vein 94-55 0.23 5
94-54 0.13 10
Zone 20 94-48 0.29 20
Since January 1, 1995, Dynacor has produced 1,091 ounces of gold. The Company expects that it will produce another 500 ounces during the third quarter and 400 ounces during the fourth quarter for a total of 2,000 ounces poured in 1995. Dynacor Mines Inc. is a mining exploration company whose main focus is exploration for gold orebodies in the Abitibi area. It has a 7 million shares capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. . CONTACT: Marc Blais, president (514) 871-9742 or Roger Doucet Roger Doucet (21 April 1919 – 19 July 1981) was a Canadian tenor best known for singing the Canadian national anthem, "O Canada", on televised games of the Montreal Canadiens, Montreal Alouettes, and Montreal Expos during 1970s. , v.-p. Exploration (819) 874-0691 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion