Meridian Peak Receives Government Approval for Prospecting Licenses in Rajasthan, India.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 9, 1997--Meridian Peak Resour(VSE See DOS/VSE. VSE - Virtual Storage Extended :MRK MRK Merck & Company (stock symbol) MRK Mayer-Rokitansky-Kuster (anomaly) MRK Manual Remote Keying .) Meridian Peak Resources Corporation is pleased to announce that its Indian subsidiary, Meridian Minerals India Pvt. Limited, has received the approval of the Government of India The Government of India (Hindi: भारत सरकार [3]Bhārat Sarkār), officially referred to as the Union Government, and commonly as Central Government for two Prospecting License applications in the State of Rajasthan. These approvals were requested by the State of Rajasthan. The approvals cover exploration for gold, silver, copper, lead, zinc, cadmium cadmium (kăd`mēəm) [from cadmia, Lat. for calamine, with which cadmium is found associated], metallic chemical element; symbol Cd; at. no. 48; at. wt. 112.41; m.p. 321°C;; b.p. 765°C;; sp. gr. 8. , bismuth bismuth (bĭz`məth) [Ger. Weisse Masse=white mass], metallic chemical element; symbol Bi; at. no. 83; at. wt. 208.9804; m.p. 271.3°C;; b.p. about 1,560°C;; sp. gr. 9.75 at 20°C;; valence +3 or +5. as well as associated minerals. The Prospecting License approvals are subject to the final approval of the state government of Rajasthan The Government of Rajasthan also known as the State Government of Rajasthan, or locally as State Government, is the supreme governing authority of the Indian state of Rajasthan and its 30 districts. , such approval is expected to be received within the next 30 days. The term of the Prospecting Licenses will be for an initial three years term which can be extended by an additional two years if necessary. The first Prospecting License covers an area of 670 square kilometres near Ghatol Block District, Banswara. The second covers an area of 632 square kilometres in Khankhera Block District, Bharatpur. Geological details of the areas covered by the Prospecting Licenses will be released following the final compilation of ongoing technical reviews. The approval of these Prospecting License applications by the Government of India makes Meridian Minerals India one of the first Canadian mining exploration companies to receive approval to conduct exploration in India. It should be noted that foreign mining companies had previously been excluded from the mineral development sector, which was reserved solely for Indian Government controlled Public Sector companies. Planning is now underway for a first phase exploration program consisting of an airborne survey, geological mapping, sampling and ground based geophysics. It is expected that these programs will commence in November. Meridian Minerals India Pvt. Ltd. has submitted applications for approximately 10,000 square kilometres between June and August of this year. It is anticipated that approvals for these applications will be received by December, 1997. On Behalf of the Board of Directors Kim M. Phillips, 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 take responsibility for the adequacy or accuracy of the contents herein. CONTACT: Meridian Peak Resources Corporation Kim M. Phillips, 604/682-4488 604/682-8728 (FAX) |
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