MacDonald Mines Exploration Ltd V.BMK

JOVAN...

[u2bob]

Anyone think they liked what they saw in the core samples from Jovan ? ...Too pick up 4 more large claims in he Area ?

Additional Claims Acquired

The Company has signed a definitive agreement to acquire a 100% interest in 4 claims (the "Claims") located on the Jovan property (Figure 4). This acquisition adds 36 hectares to the Company's land position. The acquired claims cover an extension of the geophysical anomaly that MacDonald is currently targeting in its ongoing drilling program at Jovan.

Acquisition Terms

To acquire an 100% interest in the Claims, on closing, MacDonald Mines agrees to:

(i) pay to the Vendor C$75,000 in cash; and (ii)issue to the Vendor the equivalent of C$75,000 Class A common shares in the capital of the Company based on the previous 5-day VWAP (subject to TSX-V approval);

The complete terms of the transaction will be available on SEDAR under the Company's profile.

 

[Retiredgeo]

Finally, they are doing some grass roots exploration on their huge property.  I guess it took a change in leadership to make it happen! With so much money wasted on Scadding and with enormous share dilution lets hope they find something.

[givemeabreak1]

Sometimes stupid statements are just stupid statements.  They started exploration and drilling on your so called grass roots section of the property before a change in leadership get a grip!

[Retiredgeo]

The Jovan drill holes are the very first drill holes drilled by MacDonald mines outside the Scadding property.  Everything else was geophysics, grab sampling and trenching.  The amount of money and man hours spent on such things was totally dwarfed by Scadding which was clearly the obsession of the last president. Is it conicidence that we are now getting drill holes outside of Scadding

[givemeabreak1]

The current 10 hole drill program at Jovan was planned before the new management came on board which was the point of my comment!