Exploration Brex Inc. announces a private placement.VAL D'OR Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. , QUEBEC--(BUSINESS WIRE)--SEPT. 21, 1995-- Exploration Brex Inc (ME:BX.A) Exploration Brex Inc. is pleased to announce that the private placement of 7 million special warrants at a price of $0.36 with Sprott Securities has been approved at the special shareholder's meeting held today. The funds, totalling $2.52 million, will be used for exploration on the company's properties, with emphasis placed on its Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend property, a 1 square mile property located less than 2 miles west of Newmont's Gold Quarry/Maggi Creek mine, one of the largest producing gold mines in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The property is located within the Carlin "window" at the intersection of three main fault trends (the Carlin Trend, Deep Plate Fault and the James Creek-Gold Quarry Fault). Combined with the favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. geology, the presence of favorable geochemical anomalies on the property and of course the excellent location of this property within the Carlin Trend, in close proximity to a major producing mine and other gold deposits, the property presents significant potential. Exploration work has begun on the property and has already returned significant results as announced on Sept. 14, including three surface geochem samples showing grades of 0.035 oz/ton gold or greater, based on randomly chosen surface samples that contained no visible mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . The company also plans exploration on its other Nevada holdings and on its Aremu, Brithish Guyana gold project. Each special warrant will be exchangeable for a unit comprised on one Class "A" share and one half of a Class "A" share purchase warrant. Each whole Class "A" share purchase warrant may be exercised to purchase one Class "A" share at $0.50 for a period of 18 months from the closing date. CONTACT: Michel David Michel David (born in 1951) is a Quebecois journalist. He is in the field since 1978 and is currently columnist for the Montreal newspaper Le Devoir. David was parliamentary correspondent at the National Assembly of Quebec for Quebec City's Le Soleil , President 819/825-9065 819/825-1199 (fax) |
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