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Re: question... Haven't been able to find any confirmation

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posted on Jan 10, 2008 07:08AM

http://www.miningnorth.com/docs/NWT2001_Overview.PDF

 

And this  from  Sola... but  no  mention of  bulk sample or any  offer  from 2 beers for  free processing:

 

Yamba Lake Claims



On May 23rd, 1996, the Company entered into an option agreement with Tanqueray
Resources Ltd. ("Tanqueray") and Mill City Gold Mining Corp. ("Mill City")
whereby the Company can earn in two stages 51% and 19% respectively in the Yamba
Lake mineral claims.  See ITEM 4D for detailed information regarding the costs
of this option agreement and subsequent events since May 1996.



Due to the lack of funds available for ongoing exploration work requirements
under the Property Option Agreement between the Company and Tanqueray and Mill
City, the Company sought out an additional partner for the property.


SouthernEra Resources was known to the Directors as a company having experience
in the Northwest Territories in diamond exploration, having existing property
around the Yamba Lake Property, and having access to adequate levels of funds
for ongoing exploration work.  The Directors approached SouthernEra for a joint
venture on the property.  In August 1998, the Company and its joint venture
partners Tanqueray and Mill City optioned a 51% interest in the Yamba Lake
Claims to SouthernEra.  In consideration, SouthernEra will incur exploration
expenditures of $10,000,000 on the claims on or before December 31, 2002.  No
other consideration was made to the Company.  See ITEM 4D for a detailed
description of the Option Agreement and the staged investment of the
$10,000,000.



The joint venture partners signed a new options agreement on the Yamba Lake
Property on April 2, 2002.  As of that date, SouthernEra had spent $3,500,000 on
exploration work on the properties but could not meet the future exploration
requirement required under the original options agreement.  The new option
agreement dated April 2, 2002 allows SouthernEra to earn a 60% undivided
interest by spending a minimum of $300,000 per year on exploration work on the
property and to complete and deliver a bankable feasibility study on or before
December 31, 2006.  Details of the new option agreement can be found in ITEM 4D
below.



This new option agreement is still active and exploration work on the property
is on going.  A description of the past and current work can be found in the
Introduction above as well as in Item 4D 'Property'.

 

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