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Welcome To The Strikepoint Gold HUB On AGORACOM
Focused on the Rice Lake Gold Belt
Message: Traps7 > 25 kms strike potential
Marum - San Gold Strike Point Joint Venture Project
Marum has received from San Gold Corporation (SGR - TSXV) a summary of the results of a 12 hole drill program that was conducted on a small southward extension of the Strike Point property. The purpose of the drill program was to test for a westward extension of the PlaceNameplaceRice PlaceTypeLake mine unit onto that extended portion of the Strike Point property along Provincial Highway 304. The mine unit or “Diabase” host was intersected in all 12 diamond drill holes. However, no material gold values were encountered, with the highest intersection containing 0.1 gms/t gold over 0.5 metres. The summary received from San Gold indicates “The fact that the Rice Lake Mine Diabase is present on the Marum Option ground warrants more surface diamond drilling by San Gold in 2007. San Gold is preparing an exploration proposal for more surface diamond drilling on the Marum Option Property in the first quarter of 2007.” Upon completion of the review of the drill program the joint venture partners will decide on the location and nature of the next drill program.
Assay samples were taken from (BQ) drill core sawed in half with one-half sent to TSL Laboratories in CityplaceSaskatoon, StateSaskatchewan for assaying. The remaining half core is stored at the Rice Lake Mine Site for future reference or further testing. The gold assay method uses a 30-gram fire assay with gravimetric finish on each sample. Gold assay results are report to San Gold Corporation in parts per billion (1,000 parts per billion equals one gram). Duplicate samples were taken at regular intervals by quartering the drill core and sending one quarter to Accurassay Laboratories of Thunder Bay, Ontario and the second quarter to TSL in CityplaceSaskatoon, StateSaskatchewan. William S. Ferreira, P. Geo. is the qualified person for the technical information concerning the Strike Point Joint Venture Project under National Instrument 43-101.
Goldridge Property, Rice Lake area, Manitoba
The evaluation of the high-resolution, 50 meter line-spaced aeromagnetic survey is being finalized. In January, the location of several target anomalies will be confirmed by ground magnetic surveys in anticipation of a winter drill program.
Gem Property, Rice Lake area, Manitoba
Marum and placeCityGrandview Gold Inc. (GVX -TSX) have agreed to amend their option agreement dated September 30, 2005, whereby Grandview shall earn a 50% interest in the property by spending $250,000 in exploration work before September 30, 2007. Marum and CityplaceGrandview have agreed to extend the earn-in period to December 31, 2007. CityGrandview is currently evaluating the results of a high-definition aeromagnetic survey that was conducted over the Gem property and CityplaceGrandview's adjoining properties.
News releases in Stockwatch of Aug. 19, 2005, and Oct. 3, 2005 -- Strike Point and Beresford Lake gold projects, Manitoba
On Aug. 19, 2005, and Oct. 3, 2005, Marum announced the details of exploration option agreements on the Strike Point (West Rice Lake) and Beresford Lake properties with San Gold Corp. Richard A. Boulay, Marum's president, is also a director and the chief financial officer of San Gold. Accordingly, these transactions are non-arm's-length and therefore are subject to TSX Venture Exchange review and approval. The company has subsequently filed the required documentation with the TSX Venture Exchange in order to receive approval of the non-arm's-length transactions. The original news releases of Aug. 19, 2005, and Oct. 3, 2005, were not reviewed by a QP as required by NI 43-101. Mr. Beauchamp has subsequently reviewed and approved the technical disclosures in the original news releases.
News release in Stockwatch of Sept. 30, 2005 -- Marum and Grandview to explore the Gem property in Manitoba
The news release references technical data published by the Manitoba Geological Survey. The reference to alteration on the Gem property as being "altered by gold-bearing fluids" and the interpretation of this alteration as being "extremely prospective" is withdrawn together with a reference to "successful prospecting ... on neighbouring claims." Except for the revisions noted, Mr. Beauchamp has reviewed and approved the technical disclosure in the original news release.
News release in Stockwatch of Dec. 2, 2005 -- Marum Resources to begin drilling Fort MacLeod
The original news release was not reviewed by a QP as required by NI 43-101. However, it has subsequently been reviewed and approved by Mr. Beauchamp.
News releases in Stockwatch of Dec. 28, 2005, and Feb. 13, 2006 -- closing of private placement
On Dec. 28, 2005, the company announced its intention to proceed with a $150,000 private placement. Subsequently, on Jan. 10, 2006, the company reported in Stockwatch its intention to proceed with a $100,000 private placement that was closed on Feb. 13, 2006. Marum did not issue a news release announcing the cancellation of the $150,000 private placement originally announced on Dec. 28, 2005, and this omission is hereby corrected.
News releases in Stockwatch of Sept. 26, 2005, Dec. 5, 2005, Dec. 15, 2005, and Dec. 30, 2005 -- private placement
On Sept. 26, 2005, the company announced its intent to proceed with a private placement for gross proceeds of up to $300,000. On Dec. 5, 2005, the company announced that it was increasing the amount of the private placement from $300,000 to $600,000. On Dec. 15, 2005, the company announced the closing of $300,000 of the $600,000 private placement offering. On Dec. 30, 2006, the company announced that it had closed a private placement for a total of $710,000. The company's news release of Dec. 30, 2005, did not mention the prior $300,000 closing and did not make reference to prior news releases concerning the placement. As such, the closing of the $710,000 private placement announced on Dec. 30, 2005, included the $300,000 closing announced on Dec. 15, 2005.
News release in Stockwatch of March 3, 2006 -- Angelina gold property, Manitoba
On March 3, 2006, Marum announced the acquisition of the Angelina gold property in the Rice Lake gold belt of southeastern Manitoba. The TSX Venture Exchange has advised Marum that this news release was deficient in respect of TSX-V policy and NI 43-101. The news release contained historic production statistics from nearby properties during the years 1927 and 1937. These historic production statistics, contained in numerous publications by the Manitoba Geological Survey, were not attributed in the March 3, 2006, news release and, even if attributed, would have misled readers by suggesting an unsubstantiated connection of the Angelina property with adjoining claims. Marum hereby retracts any representation of prior historic production near the Angelina property as reported by the Manitoba Geological Survey. The news release also contained a summary description of work performed by the previous owner of the claims, Gossan Resources Ltd., as disclosed in its news release in Stockwatch of Aug. 6, 2004. This summary contained assay results from three surface samples taken on the Angelina property. Marum omitted to include the name of the qualified person responsible for the technical work and should have included the sentence "P. Fulton-Regula, MSc, geology, PGeo, is the qualified supervising person on this project."
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