Business
Starfire Minerals Inc. acquires additional nickel prospect, Timmins area, Ontario, Canada
Starfire Minerals Inc. acquires additional nickel prospect, Timmins area, Ontario, Canada.
About this update from Sandfire Resources America Inc.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: SFR: TSX-Venture\n\nVANCOUVER, March 30 /CNW/ - Starfire Minerals Inc. is pleased to announce\nthe acquisition of a nickel prospect located in Shaw Township a few miles\nsoutheast of Timmins, Ontario, Canada. The property contains multiple airborne\nand ground-delineated electromagnetic conductors lying within a zone of\nultramafic rocks, as interpreted from regional airborne and ground magnetic\nsurveys.\nThe property was acquired as part of Starfire Nickel's renewed activity\nin the Shaw Dome area of the nickel-hosting Abitibi Peridotite belt. It lies\nto the west of the company's Carman Township nickel prospect. Starfire Nickel\nInc. is a wholly owned subsidiary of Starfire Minerals Inc. (For further\ndetails on the Carmen property please refer to our news release March 7,\n2006).\nIn Langmuir Township, to the southeast, Starfire Minerals Inc. also holds\nthe Langmuir South nickel prospect, the subject of a current geophysical\nprogram and proposed drilling program as recommended by G. A. Harron and\nAssociates in a recently filed NI 43-101 compliant report. Starfire's Langmuir\nSouth property lies adjacent to, and south of, Inspiration Mining Company's\ncurrent intensive drilling program on the Langmuir North prospect extending\nfrom the original Langmuir No. 1, and Langmuir No. 2 Mines which were former\nproducers in the region. (For further details on the Langmuir property please\nrefer to our news releases of February 8, 2006 and February 16, 2006).\nTerms of the agreement include acquisition of 100% interest in the\nproperty by a minimum work expenditure on the property of $25,000 by May 30,\n2006 and the issuance of 200,000 shares of Starfire Minerals Inc. to the\nvendor as follows: 100,000 shares upon approval by the TSX.V and a further\n100,000 shares on the anniversary date of the agreement. A 2% net smelter\nroyalty can be reduced by up to three quarters to 0.5% for $1.5 million.\n\nThis acquisition is subject to regulatory approvals.\n\nStarfire Minerals Inc. includes uranium, nickel and precious & base metal\ndivisions with properties in Ontario, Quebec and British Columbia.\n\nON BEHALF OF THE BOARD OF DIRECTORS OF\n\nSTARFIRE MINERALS INC.\n\n\"Dan Mosher\"\n\n-------------------------\nDan Mosher\nPresident/CEO\n\nTHIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL\nRESPON...