TANDEM RESOURCES LTD REPORTS THAT IT IS ACQUIRING A 50-SQUARE KILOMETRE CONCESSION IN THE QUEBEC-LABRADOR TROUGH NORTHEAST OF SCHEFFERVILLE.TORONTO--(BUSINESS WIRE)--April 30, 1996--Tandem Resources Ltd. ("Tandem") reports that it is acquiring a 50-square kilometre concession in the Quebec-Labrador trough northeast of Schefferville. The concession contains a soil gossan gos·san n. An exposed, oxidized portion of a mineral vein, especially a rust-colored outcrop of iron ore. [Cornish gossen, from g or rust zone over 5 acres in area which contains up to 0.13% nickel-copper. A reconnaissance geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. has located a very strong conductor zone adjacent to the gossan area. Some of the readings related to the survey were off scale. The conductor zone is about 3200 feet long and up to 800 feet wide. Arrangements for a drilling program are being made with drilling slated to start about the middle of June. Aerial geophysical surveys of the Voisey Bay area concessions are now under way. A prospecting party, last year, located several areas on two of the concessions that carried copper values up to 1.06% and 0.30% nickel. In Indonesia, Tandem is a joint venture partner with Bresea Resources and Diadem diadem, in ancient times, the fillet of silk, wool, or linen tied about the head of a king, queen, or priest as a distinguishing mark. Later, it was a band of gold, which gave rise to the crown. In heraldry, the diadem is one of the arched bars that support the crown. Resources in the exploration of three separate concessions in Kalimantan. Bre-X Minerals, under the direction of Bre-X Mineral's chief geologist, John Felderhof, is managing the program. Tandem has a 30% interest in one concession and 25% interest in two others. Exploration on the three concessions is expected to be started by the middle of May or in approximately two weeks. Tandem is a joint venture partner with NAR NAR National Association of REALTORS NAR Nucleic Acids Research (journal) NAR National Association of Rocketry NAR Nationale Arbeidsraad (Dutch: National Labor Council; Brussels, Belgium) Resources Ltd. ("NAR") in the Matheson area of Northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . Tandem and NAR recently reported a potentially ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly gold intersection on optioned ground (Windsor Option) near Highway 101. This intersection was in Hole W-3 and it obtained 10.8 feet averaging 0.47 ounces of gold per ton starting at 272.0 feet in the hole. Further holes were drilled 100 feet on either side of W-3 and 100 feet below W-3. These latter holes encountered gold values but they were below 0.20 ounces of gold per ton. Owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de spring break-up, drilling has been suspended but the drill remains at the property pending a correlation of all results. A decision as to a further drill program will be made after a study of all drilling and geophysical data has been completed. The Schefferville prospect is being acquired for $16,000 and the issuance of 50,000 shares of Tandem. The vendors, a prospecting syndicate, will hold a 10% net profit interest and the prospectors a 1 1/2% net smelter return, subject to regulatory approval. CONTACT: Stanley G. Hawkins, 416/862-7885 |
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