Business
Goldbard Enters Agreement to Acquire MIE Metals Corp.
TORONTO, Sept. 10 /CNW/ - Goldbard Capital Corporation ("Goldbard" or the "Company") (TSX-V:GDB.P...
About this update from Goldbank Mining Corporation
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 10 /CNW/ - Goldbard Capital Corporation ("Goldbard" or the\n"Company") (TSX-V:GDB.P) and Adriana Resources Inc. ("Adriana") (TSX-V:ADI)\nare pleased to announce that they have entered into a letter of intent (the\n"Agreement") dated September 9, 2008, pursuant to which Goldbard shall acquire\nall of the issued and outstanding shares of MIE Metals Corp. ("MIE"), a wholly\nowned subsidiary of Adriana (the "Transaction"). Jennings Capital Inc. (the\n"Agent") is acting as advisor and agent to Adriana with respect to the\nTransaction.\n\n\nAbout MIE\n\n\nMIE is a private company incorporated under the laws of British Columbia\nwith its head office in Vancouver, British Columbia. Through a wholly-owned\nsubsidiary, MIE is involved in the exploration of nickel, copper, platinum and\npalladium mineralization associated with the Muskox Intrusion (the "MIE\nProject"), located in Nunavut, Canada, and uranium mineralization associated\nwith the adjacent Hornby Bay Basin (the "Bear Valley Project"). The MIE\nProject and the Bear Valley Project are comprised of: (a) two Inuit Owned\nLands Exploration Agreements covering 19,711 hectares; (b) 75 wholly-owned\nmineral claims covering 67,035 hectares; and (c) 42 mineral claims covering\n37,194 hectares, held in a 50:50 joint venture with UNOR Inc.\n\n\nThe MIE Project draws its name from one of the world's largest\ncontinental-type magmatic events. The Mackenzie Igneous Event deposited an\nestimated 5 to 10 million cubic meters of magma across Northern Canada. Rare\ngeological events such as these are widely known to host large, rich platinum\ngroup element and copper-nickel deposits. For example, two of the world's\nlargest such complexes, Bushveld in South Africa, and Norilsk-Talnakh in\nRussia, host numerous deposits and operating mines.\n\n\nThe Bear Valley Project is located in the eastern edge of the Hornby Bay\nBasin, which represents an under-explored sandstone basin with significant\nuranium potential that shares many geological characteristics with the\nAthabasca and Thelon Basins. Numerous high-grade unconformity style uranium\ndeposits have been identified within the Athabasca Basin, and mining of these\ndeposits currently generates approximately one third of the world's ur...