Tue Oct 15, 2002 The Company commissions a Geological Report on the Sidace Lake Property
The Company announces that it has commissioned a Geological Report on its Sidace Lake Property (formerly referred to as Sobeski Lake Property) located in the Black Bear Area, Red Lake District, in the Province of Ontario (the "Sidace Lake Property").
Sidace Lake Property
The Company entered into an option agreement dated August 20, 2002 with Mr. Perry English ("English") of Souris, Manitoba whereby the Company acquired an option to earn up to a 100% interest in and to 4 claim blocks consisting of 62 units (approximately 2480 acres). The Property is identified as the Sidace Lake Property, located in the Black Bear area, Red Lake Mining Division, Province of Ontario.
Mineralization production in the Black Bear area has been gold, copper and zinc. No mineral reserves or production are known on the Sidace Lake Property.
An Evaluation Report dated October 2, 2002 on the Sidace Lake Property was prepared by David J. Busch B.A. B.Sc., PGEO. The report recommends an initial Phase I target identification program consisting of till sampling (100 sites) at an estimated cost of $16,500. Depending on the results of the initial program, a continuation of the Phase I program is recommended consisting of prospecting, a mobile metal ion soil survey, follow-up sampling and diamond drilling at an estimated cost of $96,000.
Jackson-Manion North Gold Property
The Company has also received a revised Evaluation Report dated September 22, 2002 on the Jackson-Manion North Gold Property. The report was prepared by David J. Busch B.A. B.Sc., PGEO and replaces the July 8, 2002 Evaluation Report.
The Reports have been filed on SEDAR and are available for viewing on the SEDAR website at www.sedar.com.
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