Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Greenflag Ventures Inc. V.DVV



TSXV:DVV - Post by User

Bullboard Posts
Post by info-checkon Feb 18, 2004 12:56pm
155 Views
Post# 7078425

DVV substancial news!!

DVV substancial news!!Dunsmuir Signs Option Agreements on Significant Land Position at Lac de Gras TSX VENTURE EXCHANGE: DVV VANCOUVER, Feb 18, 2004 (Canada NewsWire via COMTEX) -- Dunsmuir Ventures Ltd. is pleased to announce it has entered into two option agreements to acquire from 65%-100% interest in 56,076 hectares (138,563 acres) of lands prospective for diamonds within the Lac de Gras diamond district. The properties comprise 18 separate claim groups of which seven are under option from a private prospecting syndicate. Dunsmuir has a right to earn an undivided 100% interest on the syndicate held claims by making $10,000 in cash payments and by issuing 175,000 common shares over a two year period. The remaining 11 claim blocks are under option from Thelon Ventures Ltd. (THV - TSX Venture Exchange). Dunsmuir has the option to earn a 65% interest in these properties by spending $4.1 million on exploration and underlying land payments over a 5 year period. Provisions under this agreement provide for Dunsmuir to become fully vested in stages and allow for expenditures on either the syndicate or Thelon properties to satisfy the option agreement with Thelon. The properties have up to a 4% gross overriding royalty on diamonds with buyback provisions for up to 2% of the GOR. The properties have undergone variable levels of exploration during the early days of discovery at Lac de Gras. A kimberlite (DI-02) was discovered by previous operators on the claims held by Thelon that lie adjacent to the southern buffer claims of BHP Billiton Diamonds Inc. and Archon Minerals Ltd. Thelon also completed a high resolution airborne Mag-Em survey flown by Fugro Airborne Surveys this past summer covering from 10-15% of the properties. Dunsmuir's geophysicist, Christopher Campbell, P. Geo. of Intrepid Geophysics Ltd, has reviewed this data and identified multiple geophysical targets for follow up work. These targets have never been drilled. It is the intention of Dunsmuir to initiate exploration work on these properties early in 2004 by continuing the airborne Mag-EM work and by prospecting and target specific till sampling next summer. Concerning this new acquisition, Art Ettlinger, president of Dunsmuir states that "by acquiring a major land position amongst the operating diamond mines of the world's third largest diamond producer, Dunsmuir has added discovery potential from the premier diamond exploration address in the world and is demonstrating an aggressiveness towards exploration that with time, increases the chance of success and mitigates exploration risk". ON BEHALF OF DUNSMUIR VENTURES LTD. "Art Ettlinger" Art Ettlinger President, CEO and Director The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Bullboard Posts