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Global Minerals Files a 43 101 Independent Technical Report on Dome Claims and Announces the Resignation of its CFO
Global Minerals Files a 43 101 Independent Technical Report on Dome Claims and Announces the Resignation of its CFO.
About this update from District Metals Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 14 /CNW/ - Global Minerals Ltd. (CTG: TSX-V) (Frankfurt:\nDFP) (the "Company") announces that the Independent Technical Report on the\nCompany's Dome Claims located in the Red Lake Mining District, Ontario has\nbeen completed and reviewed by management.\n\n\nAlthough the Company recommends reading the report in its entirety on\nSEDAR (www.sedar.com), excerpts from the Executive Summary, Recommendations,\nConclusions and Deposit Types are presented below in the interests of brevity.\n\n\nCapital terms defined below have the same meaning as those set out in the\nIndependent Technical Report.\n\n\nExecutive Summary\n\n\nAt the request of Global Minerals Ltd. (the "Company"), Caracle Creek\nInternational Consulting Inc. ("CCIC") has completed a review of the Dome\nClaims (the "Property") and prepared an Independent Technical Report (the\n"Report"), compliant with National Instrument 43-101 ("NI43-101"), companion\npolicy NI43-101CP and Form 43-101F1.\n\n\nCCIC has prepared this Report to provide a summary of scientific and\ntechnical data on the Property, including recent exploration activities, and\nmake recommendations concerning future exploration and development. This\nReport is based on exploration and property information supplied to CCIC by\nGlobal and a review of public domain geological and exploration information. A\nsite visit was completed by Brad Leonard on March 14 to 16 (inclusive), 2007.\n\n\nThe Property consists of 13 unpatented mining claims that cover\napproximately 500 hectares within the townships of Dome, Heyson and Byshe. The\nProperty is located about 1 km east of the Town of Red Lake and 3 km southwest\nof Balmertown, Ontario, located in the Municipality of Red Lake, Ontario.\n\n\nMuch of the Property overlies a large quartz diorite intrusion which is\nhost to several past-producing gold mines and numerous gold occurrences. In\naddition, diamond drilling and surface exploration by Sabina Resources Limited\nand Wolfden Resources Limited (Press Releases - 2005) reported significant\nhigh grade gold mineralization from their Follansbee Property, located about\n2 km north of the Property. Sulphide associated gold with values as high as\n5.05 g/t Au over 34.95 m occur in metasedimentary rocks in contact with\nmetavolcanic rocks o...