Orbite: Acquisition of an Alumina Clay 'Mudstones' Property in the Murdochville Area.MONTREAL -- Exploration Orbite (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ORT.A) (ORBITE) is pleased to announce the acquisition of the Grande-Vallee property located 32 km north-east of Murdochville, Gaspe Peninsula, Qc. The property is composed of 12 map-designated claims ("CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ") covering a total surface of 676.5 hectares (NTS-Sheet 22H03). The property is easily accessible by road with services and labour. A purchase agreement was signed on August 29th for the acquisition by ORBITE of the 100% property interest owned by Poly-Vein Expl. Inc. This transaction involves payment in the form of 500 000 shares of ORBITE stock distributed over a two-year period. 100 000 shares is to be disbursed upon approval by the regulatory authorities. Two additional tranches of 200 000 shares also to be paid on theagreement's first and second anniversaries. ORBITE also agrees to pay a 3% NPI NPI National Provider Identifier, see there (net profits interest) resulting from production. 100% of the NPI can be bought back for a sum of $500 000 after a five year production period. ORBITE is also committed to investing $100 000 in research and exploration work over the next 16 months. Alumina (Al2O3) is widely used to produce aluminum metal and a variety of other manufactured products. The aluminum production process generally requires Bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. . However, there is an alternative process that can be fed by materials stemming from alumina clays having an appropriate Al2O3 content. This is the case for the Grande-Vallee clays, which grade 24.2% Al2O3. Sampling of the property done in 2001 by R. W. Turner, consulting geologist, have identified three zones with especially high potential. The volume estimates for the three zones represents some 16.5 million cubic meters of clay. The alumina content of the samples were calculated through the highly-reliable X-ray fluorescence and diffraction analysis techniques, performed independently by COREM laboratories, Quebec City. ORBITE is presently preparing a value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. strategic approach to the project including planning, field work and the further detailed analysis and research on the chemical and mineral nature of the clay. TSX Venture does not accept any responsibilities concerning the validity or veracity veracity (v n of the information contained in this release. EXPLORATION ORBITE VSPA (Very Small Peripheral Array) An earlier surface mount chip housing from The Panda Project, Inc., Boca Raton, FL. VSPA offered a 60% reduction in size over the popular PQFP method while adding more contacts. See Compass connector. INC. (TSX VENTURE:ORT.A) |
|

Printer friendly
Cite/link
Email
Feedback
Reader Opinion