StocksJournal..Re: Hepner LK , MB ...Hebner Lake Property, Manitoba
The Hebner Lake Property is located approximately 350 kilometers north of Thompson and 120 kilometers northwest of Churchill, Manitoba. Hebner Lake is focused on a geophysical anomaly which couples a magnetic anomaly with an electromagnetic conductor. The lack of out crop over most of the property precludes the use of geological mapping to ascertain the true nature of this conductor. To date this target has not been drilled.
A summary of work conducted to date - During the year ended April 30, 2004 the Company completed a report to the standards of NI 43-101 and carried out assessment work during the site visit to keep the claims in good standing. The work included some short lines of electromagnetic surveys that confirm the validity of geophysical targets previously indicated. The Company plans to complete further ground surveys to cover extensions of these targets.
In September '04 (see news Sept. ’04), Columbia Yukon negotiated and announced a proposed joint venture agreement with the view to bringing Hebner Lake into keen focus for ‘05. Importantly, the Company’s Hebner Lake project affords Columbia Yukon greater diversification, as it has exposure to Nickel, Copper and PGM, the prices of which are experiencing multi-year highs. Notably, management recently witnessed increased staking activity in close proximity to Hebner Lake. As reported by the Ministry of Industry, Economic Development and Mines of the Province of Manitoba, a mineral exploration license map was posted December 14, ’04, indicating De Beers Canada Exploration Inc. acquired 23 exploration licenses aggregating 1,940,000 hectares, which encompass Hebner Lake.