Sharpe Energy & Resources - Agreement to Acquire 35 Percent Interest in 400 Claims.HEATHSVILLE, Va.--(BUSINESS WIRE)--Feb. 22, 1996--Sharpe Energy & Res Lim(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. : SHGP U.S. OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). - BB: SHGPF ) SHARPE ENERGY & RESOURCES LIMITED is pleased to announce an agreement to acquire a 35 percent interest in 400 claims located on the 110 km long Kyfanan Lake intrusion in Southern Labrador, which is jointly held with Peruvian Gold Ltd. and Cartaway Containers Corp. controlling a 50 percent interest. The mafic-ultramafic-anorthositic intrusion has been flown with airborne EM by the Peruvian Gold Ltd. and Cartaway Containers Corp. joint venture. This work has identified several high quality EM geophysical anomalies on a portion of the claims that Sharpe, Peruvian and Cartaway currently have an interest. The rock package is considered to be geologically and geochemically favorable and current geophysical results indicate the potential for the discovery of economic Ni-Cu-Co sulfide deposits. Currently, ground geophysics is underway to further define the airborne EM conductive conductive having the quality of readily conducting electric current. conductive flooring flooring or floor covering made specially conductive to electrical current, usually by the inclusion of copper wiring that is earthed zones. Sharpe acquired its interest in the claims from a private syndicate for 70,000 Sharpe shares and a 1 percent NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there royalty. Sharpe Energy and Resources Limited plans to transfer its' interest in the Sukut gold-(Zn-Ag-Cu) property in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. and the Antone Canyon, gold-(Ag) property in Nevada into a "new" public company. The new company will focus initially on Nevada and Central American Central America A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. exploration and acquisition opportunities. The current financing is expected to raise approximately $1,500,000 which is to be spent primarily to advance the Nevada and Costa Rican projects as well as other high potential projects in these regions. Plans include a detailed exploration program on the Nevada property as soon as possible. Sharpe Energy & Resources Limited will have approximately a 60 percent interest in the "new" public company which is expected to be trading publicly in Canada in April, 1996. Sharpe Energy & Resources Ltd. is pleased to announce its plans to relocate its corporate headquarters to Richmond, Virginia Richmond IPA: [ɹɯʒmɐnɖ] is the capital of the Commonwealth of Virginia, in the United States. , effective March 1, 1996 to 530 East Main Street, Suite 900, Richmond, VA 23219. Telephone and fax numbers are (804) 225-0186 and (804) 225-0190. CONTACT: Sharpe Energy & Resources Limited Roland M. Larsen President (804) 580-7517 |
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