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ARMSTRONG BROOK
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Key Facts
Location:
New Brunswick, Canada
20 km East of SAINT JOHN Commodities: Gold
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Comparable Properties
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Latest Information March 1, 2007 Reported that the company the company entered into an option agreement with Mantra Mining Ltd whereby the company granted an option to the Purchaser to acquire up to 65%. The purchaser will pay the company $15,000 and issue 50,000 common shares upon regulatory approval; $20,000 and issue 50,000 common shares on the first anniversary and $30,000 and issue 100,000 common shares on the second anniversary. The purchaser has agreed to expend on exploration, $200,000 within one year and an additional $800,000 in the second year. The purchaser can increase its interest to 75% by financing all of the exploration and development costs up to feasibility. A 1.5% NSR is payable to the original owners of the claims. February 28, 2007 The company informed that has provided drilling results from the drilling program. Were drilled two holes to test a large induced polarization geophysical anomaly at the ‘Silica Zone’, located 600 mnorth of an open-pit gold mine which operated in the 1980s. The two holes, 168 m and 300 m long, intersected zones of strong pyrite mineralization but core assays returned low gold values from both holes. February 14, 2007 Reported that drilling conducted in the property tested two large IP anomalies at the "Silica Zone", 600 metres north of an open-pit gold mine which operated in the 1980's. The company reported they intercepted pyrite mineralization but core assays returned low gold values. |
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