2008 Press Releases
2007 Press Releases
2006 Press Releases
2005 Press Releases
2004 Press Releases
TSX.V : VMI
|
|  |  |
| | Tue Feb 1, 2005
Diadem Commences Exploration On Vault's Attawapiskat
|
| | Kirkland Lake, Ontario. Vault Minerals Inc. (TSX-V: VMI) is pleased to announce that Diadem Resources Inc. has recently commenced exploration on Vault's Attawapiskat diamond project with the mobilization of an airborne geophysical survey crew to the property. Fugro Airborne Surveys Corporation has been retained to complete a MIDAS high-resolution airborne magnetic geophysical survey of the property. The survey will entail some 5,500 line-kilometers and take approximately one month to complete. The survey is designed to map out bedrock structure and discrete targets of interest and the results will provide direction for future work on the property.
As detailed in previous news releases (November 29, 2004 & January 20, 2005), Vault and Diadem recently entered into a definitive agreement whereby Diadem may earn a 51% interest in the property by, among other terms, expending $1,000,000 over 2 years (of which $300,000 is required to be spent by April 1, 2005).
The Attawapiskat property consists of 219 contiguous claims (3,403 claim units) covering over 53,000 hectares located from 40 to 70 kilometers southeast of the Attawapiskat cluster of 19 kimberlite pipes (16 held by De Beers) in the James Bay Lowlands area of Northern Ontario. The largest pipe in the cluster, Victor, is undergoing final feasibility studies prior to an anticipated production decision by De Beers.
About Vault
Vault Minerals Inc. (TSX-V: VMI) is a junior natural resource company involved in exploration for gold and diamonds. The Company's gold properties are located in the core of the Kirkland Lake gold camp, Ontario and within an area of active gold exploration in Urban Township, Quebec. Vault's diamond property lies southeast of De Beers' Victor diamond mine development in the James Bay Lowlands, Ontario. The Company is based in Ontario and its capital consists of 14,320,468 issued and outstanding common shares.
On behalf of the Board of
VAULT MINERALS INC.
"Andy Chater"
Andrew M. Chater, P.Geo
President & CEO
For additional information, please visit our website at www.vaultminerals.com or contact:
Dan McCormack, Director
21 Goodfish Road
Kirkland Lake, Ontario P2N 3H7
Phone (705) 567 4511
Fax (705) 567 6873
Email info@vaultminerals.com
Andy Chater, President & CEO
Suite 711 -- 25 Adelaide Street East
Toronto, Ontario M5C 1Y2
Phone (416) 360 1985
Fax (416) 360 7193
Email info@vaultminerals.com
"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release." |
| |
| | You can view the Next Press Releases item: Mon Mar 7, 2005, Vault Purchases Northgate's Kirkland Lake Property
You can view the Previous Press Releases item: Thu Jan 20, 2005, Diadem To Proceed With Vault's Attawapiskat Diamond Property
You can return to the main Press Releases page, or press the Back button on your browser.
|
|
