KINBAURI GOLD CORP. CONCLUDES AGREEMENT WITH LOUBEL EXPLORATIONS AND MELKIOR RESOURCES INC.CARP,ON--(BUSINESS WIRE)--JUNE 5, 1995--KINBAURI GOLD CORP.(CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. : KNBR) Kinbauri Gold Corp. ("Kinbauri") has concluded an agreement with Loubel Explorations ("Loubel") of Rouyn-Noranda and Melkior Resources Inc. ("Melkior") of 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. , whereby Kinbauri can earn a 65 percent interest in the Dossi Concession ("Dossi") in Burkina Faso Burkina Faso (burkē`nə fä`sō), republic (2005 est. pop. 13,925,000), 105,869 sq mi (274,200 sq km), W Africa. It borders on Mali in the west and north, on Niger in the northeast, on Benin in the southeast, and on Togo, Ghana, and by paying Loubel/Melkior $100,000 in stock and incurring exploration expenditures of $1,000,000 over a period of four years. The number of shares to be issued will be based on the value per share established by Kinbauri's first offering to fund exploration. Dossi is a 314 sq.km Concession straddling strad·dle v. strad·dled, strad·dling, strad·dles v.tr. 1. a. To stand or sit with a leg on each side of; bestride: straddle a horse. b. a greenstone belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. marked by a 18km long geochem gold soil anomaly and associated shear zone. The gold soil anomaly varies from just under 0.5km to over 4km in width. Recent soil sampling by Loubel/Melkior has detailed portions of this anomaly and outlined numerous drill targets. The detailed areas contain numerous value of over 1.0g/t Au; the highest value of 6.3 g/t Au was located within an open anomaly. The property is very prospective for both laterite laterite Soil layer rich in iron oxide and sometimes aluminum, derived from a wide variety of rocks by leaching. It forms in tropical and subtropical regions where the climate is humid. gold and structurally controlled gold in volcano sedimentary rocks. The permit will be formally issued shortly. Soukoura is 478 sq. km in size and is marked by a major shear zone in volcano sedimentary rocks containing Au-Mn and Cu showings. After Kinbauri expends $200,000 on exploration, Incanore Resources Ltd ("Incanore") of Quebec City has a right to earn a 50 percent interest by expending $200,000 on exploration for its facilitating acquisition of Soukoura. Subsequent to this, Kinbauri will have the right to re-acquire 50 percent of Incanore's interest by paying them $200,000. Freewest Resources Inc. ("Freewest") has returned the 30 claim Morrisette Creek Property near Kirkland Lake to Kinbauri following a geophysical and six hole diamond drill hole program totaling 822 metres. Although an area of extensive alteration and shearing with anomalous gold values in both volcanics and porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. has been defined, no economic gold grads were obtained. However only one hole was located to test the probable extension of Sudbury Contact Mines Ltd's Victoria Creek structure. Kinbauri is presently appraising further acquisitions in Canada and abroad. CONTACT: Dr. V.N. (Vern) Rampton Phone: 613/836-2594 Fax: 613/831-2730 No Regulatory Authority has either approved or disapproved of the contents herein. REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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