Wed May 14, 2003 Beginning of Spring/Summer mineral exploration program on Sidace Lake Project.
Consolidated Abaddon Resources Inc. is pleased to announce the start of its spring/summer mineral exploration program on its Sidace Lake Project. An aggressive and detailed till sampling program is to commence immediately followed by geochemical and geophysical programs. Previous airborne magnetic data is being digitized by the Company to aid in the interpretation of known geologic structures. The Company has defined a number of iron carbonate alteration zones within the known existing mafic volcanic structures on the property. Recent geologic studies of the area suggest that the property is potentially underlain with the Balmer and Confederation Assemblage rock types.
The Sidace Lake Project properties adjoin (on the northeast and the southeast and on strike) the newly formed joint venture of Planet Explorations and Goldcorp. The property consists of approximately 5200 acres contained in 132 claim units located in the Black Bear Area, Red Lake District, and Northwestern Ontario. The Sidace Lake Project is a 50% / 50% joint venture between Consolidated Abaddon Resources Inc. and Skyharbour Resources Ltd.
The Company would also like to announce at this time that it intends to drop its property interest in the Botwood Basin area of Newfoundland. It is the intention of the Company to concentrate its efforts on the Sidace Lake Property in Red Lake, Ontario.
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You can view the Next News Releases item: Fri May 23, 2003, The Company enters into a Joint Venture Agreement with Skyharbour Resources Ltd.
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