NR is what RDM needed!!10 - 12 priority targets to be drilled and this is only the tip of what they have found to date!!! Nice to see some work back on the plate. Now, we will await the DB meeting to see what comes of it.
Stockwatch News Item
Rhonda Corp (C-RDM) - News Release
Rhonda's Inulik to undergo $900,000 drill program
Rhonda Corp RDM
Shares issued 42,519,600 Feb 7 2003 close $ 0.26
Monday February 10 2003 News Release
Mr. Robert d'Artois reports
RHONDA CORPORATION ANNOUNCES INULIK SPRING DRILLING PROGRAM
A $900,000 core drilling program for the Inulik property, to be carried out during March/April, 2003, has been approved by Teck Cominco Ltd.
The program, to be managed by Rhonda's wholly owned subsidiary Rhonda Exploration Inc., will focus on geophysical targets within an area of anomalous kimberlite indicator minerals obtained from till samples taken in 2001 and 2002. Till results have identified a number of areas producing kimberlite indicator minerals such as magnesium ilmenites, pyropes and eclogitic garnets. Ground geophysics over the targets (defined by the kimberlite indicator minerals and airborne geophysics) will begin in mid-March with drilling to follow in early April.
It is expected 10 to 12 priority targets will be selected for initial drill testing.
In addition, a summer program will continue to ground check geophysical anomalies and collect additional till samples. Geological mapping in selected areas and continued prospecting are to be undertaken to more clearly define known KIM trains.
Under an option and joint venture agreement with Rhonda, Teck Cominco may earn a 51-per-cent interest in the Inulik property by incurring expenditures of $5-million over four years. Once vested, Teck Cominco may increase its interest in specific discoveries to 70 per cent (see Aug. 1, 2002, news release in Stockwatch).