Winter drilling update.ONTARIO, Calif.--(BUSINESS WIRE)--May 27, 1997--Mountain Province Mining Inc. (the "Company") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MPVIF) is pleased to announce that it has been notified by its contractor, Monopros Limited, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of De Beers Consolidated Mines Ltd., regarding its winter drilling program on the AK-CJ Claims in the Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. . Monopros has advised the Company that kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. has been intersected while drilling a lake-based geophysical target generated from the recently flown high resolution helicopter magnetic and electromagnetic survey of the southern AK claim block. The target is located approximately 1.8 km northwest of the AK5034 kimberlite pipe. The drill hole was inclined at -50 degrees and intersected 51.5 meters of continuous kimberlite. The drill hole was stopped in kimberlite at 187.5 meters due to difficult ground conditions. Samples of the kimberlite are being forwarded by Monopros Limited to the De Beers Laboratories in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. for microdiamond, mineral chemistry and other analysis. Drilling of additional lake-based targets generated by the 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. will continue as long as weather conditions permit. A summer drilling program of land-based targets is also planned. The AK 5034 Claim block is presently held 50% by Mountain Province Mining Inc., 40% by 444965 B.C. Ltd., a wholly owned subsidiary of Glenmore Highlands Ltd. and 10% by Camphor camphor (kăm`fər), C10H16O, white, crystalline solid ketone with a characteristic pungent odor and taste. It melts at 176°C; and boils at 204°C;. Ventures Inc. As reported on March 7, 1997, the Company and its partners have entered into a joint venture agreement with Monopros Limited under which Monopros has the right to earn up to a 60% interest in the AK/CJ properties. -0- On behalf of the Board of Mountain Province Mining Inc. Jan W. Vandersande President -0- http://www.mountainprovince.com CONTACT: Mountain Province Mining Jan W. Vandersande, 909/466-1411 909/466-1409 (FAX) mtnprovinvrel@worldnet.att.net |
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