TSX:LSG.DB - Post by User
Post by
razzsson Mar 11, 2006 8:58pm
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Post# 10477053
Another neighbor
Another neighborI recall a posting from someone last week of a new neighbor "sea green capital". Found this article of yet another neighbor. Timmins West Area keeps attracting more attention...PRESS RELEASE
ABITEX ACQUIRES 27 CLAIM UNITS
IN BRISTOL AND CARSCALLEN TOWNSHIPS, TIMMINS AREA, ONTARIO
Val-d’Or, March 3, 2006 (TSX-V:ABE) Abitex Resources Inc. (“Abitex”) is pleased to announce that it has acquired 27 claim units in Bristol and Carscallen townships, 25km southwest of Timmins, Ontario, pursuant to an agreement entered into with North American Exploration Ltd and previously disclosed in a press release dated February 9, 2006. In consideration of the 27 claim units, Abitex has issued 80,000 common shares to North American Exploration Ltd, which also retains a 1.5 % NSR interest in any future gold and/or silver production from the property. Abitex plans property-wide line cutting in order to complete geophysical surveys this winter. The program will begin shortly.
The Bristol-Carscallen property brings additional potential for gold discovery to Abitex’s portfolio of gold properties, which include the Jolin gold property near Val-d’Or, Quebec, which has a historic gold resource, and the Lac Barry high grade gold property in the Urban-Barry gold camp east of Quévillon (QC). Abitex also has an advanced nickel-copper-cobalt property with historic resources in New-Brunswick, as well as other grassroots base metal projects.