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Canadian International Minerals provides update on rare metals exploration and closes private placement
Trading Symbol CIN-CNSX VANCOUVER, Sept. 11 /CNW/ - Canadian International Minerals (CIN) has com...
About this update from Egr Exploration Ltd
[{"type":"text","content":"\n\n\n\nTrading Symbol CIN-CNSX\n\n\nVANCOUVER, Sept. 11 /CNW/ - Canadian International Minerals (CIN) has\ncompleted exploration programs on three of its eight rare metal properties in\nBritish Columbia this summer with programs being initiated on the other five\nbefore the onset of winter conditions. Assays and final results from completed\nprograms are expected in coming weeks. Once final reports are completed, these\nprojects will be available for joint venture. Programs have consisted of\ngeological mapping with rock, soil and silt sampling along with prospecting.\n\n\nThe Company's silicon properties have been visited by a major industrial\nminerals company and have been included in an economic evaluation of a\npotential silica processing plant in the Golden, B.C. area. Initial response\nhas been very positive and the results of the study are expected this fall.\n\n\nCIN continually evaluates new prospects for rare metals in Canada through\nits extensive contacts in the mining and scientific communities. Since most\nknown rare metal occurrences have metallurgic or logistical issues that\nnegatively impact their potential economic development, CIN has focused on new\nexploration models that have seen none or very little exploration for rare\nmetals.\n\n\nCOPPER MOUNTAIN UPDATE\n\n\nThe Company is evaluating data obtained by its recently completed AeroTEM\nIII airborne electromagnetic and magnetic survey. Aeroquest Surveys has\nidentified targets for further ground geophysics to delineate possible drill\ntargets. SRK Consulting has been retained to provide a final report.\n\n\nCIN has acquired 100% in an additional 9 claims in the surveyed area,\ntotalling 231.43 hectares, from two private individuals for a total of $17,000\nand 100,000 common shares of the Company. Part of the group is also subject to\na 2% NSR royalty.\n\n\nCIN's Copper Mountain claims directly adjoin Mitsubishi Materials\nCorporation and Copper Mountain Mining Corporation's mine that is currently\nunder construction. The mine is a past producer of 1.7 billion pounds of\ncopper that closed in 1996, and therefore, there is significant developed\ninfrastructure on site and has a current resource of approximately 5 billion\npounds of copper.\n\n\nCLOSE OF PRIVATE PLACEMENTS\n\n\nThe Company announces that it has closed its private placement of\n6,205,000 non ...