Canadian International Minerals Inc. (CIN-TSX.V) Acquires Interest in Bigstone Lake Diamond Properties in Saskatchewanadmin
VANCOUVER, BC / ACCESSWIRE / March 31, 2014 / Canadian International Minerals Inc. (CIN – TSXV, the “Company”) announces that it has acquired, by staking, a 100% interest in the Bigstone Lake properties, in northeastern Saskatchewan. The properties are comprised of 22 claims, totalling 25,102 hectares (62,028 acres). The Company has also acquired a 50% interest in the Three Amigos property by contributing 50% of staking costs. The Three Amigos property is comprised of a single claim, totalling 4,871 hectares (12,036 acres), and is contiguous to the main block of the Bigstone Lake properties.
There are no royalties or further commitments to the Company’s interest in the Bigstone Lake properties, other than assessment requirements to maintain the permits as per Saskatchewan government regulations. The Three Amigos property will be a 50/50 joint venture with New Moon Minerals Corp., a private mineral exploration company.
The Company is presently compiling and evaluating an airborne geophysical survey conducted in 2006 which covers most of the Bigstone Lake and Three Amigos properties. The survey was originally flown and evaluated for base metals, and incorporated VTEM and magnetics on 200 meter line spacings (Hughes, Pattison, 2009). SJ Geophysics Ltd. of Delta, B.C. has been retained to re-evaluate the data for kimberlite targets.
The northernmost block of the Bigstone Lake properties lies approximately 30 kilometers south of North Arrow Minerals Inc.’s (NAR – TSXV) Pikoo property, where a new diamondiferous kimberlite was discovered in 2013. With these latest additions, the Company is now exposed to approximately 97,323 hectares (240,490 acres) of prospective ground in the vicinity of the Pikoo discovery.
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the provisions of National Instrument 43-101.
On behalf of the Board of Directors,
“Michael E. Schuss”
Michael E. Schuss
President and Chief Executive Officer
For further information on Canadian International Minerals Inc., please visit the company website at www.cin-v.com or contact Michael E. Schuss at 604-241-2254.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Canadian International Minerals Inc. undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
SOURCE: Canadian International Minerals Inc.
Posted: March 31st, 2014 under ACCESSWIRE.