Global Prospecting Ventures -- Announces the Commencement of the Spring Exploration Program in the Fort a'la Corne Area of Central Saskatchewan, Canada
Monday March 15, 11:19 am ET
SAN FRANCISCO--(BUSINESS WIRE)--March 15, 2004--Global Prospecting Ventures, Inc. (OTC:GPVI - News) is pleased to announce the commencement of the Company's spring exploration program in the Fort a'la Corne area of central Saskatchewan, Canada.
Further to our news release of March 12, 2004 announcing a joint venture with Garnet Point Resources Corp. (TSX.V: GRC or OTC:GRCDF) Garnet will fund the geophysical and drilling costs on the following two claims:
1) Candle Lake, Claim S-135692. This magnetic feature is on trend with the main Fort a'la Corne field of diamondiferous kimberlites and is located near the fields northern extension.
2) Birchbark Lake, Claim S135708. This feature is located north-east of a small kimberlite originally located by Uranerz Exploration & Mining Limited of West Germany and was discovered by a recent airborne survey of the area.
Immediately following the work on the above targets Global will begin work on its' 100% owned White Gull property Claim S-136705. This claim hosts two targets that will be further geophysicaly tested to locate drill targets. These claims are located within 10 kilometers of a known diamondiferous kimberlite cluster.
In addition to the ongoing exploration on Global's FALC holdings the company has expanded beyond the known perimeter of the play to the following areas:
WILDCAT HILLS
This area located immediately west of the main Fort a' la Corne trend has several positive parameters including being close to stable Archean craton. All the airborne anomalies are magnetic highs offset with sharp contrasting magnetic lows. The area for the most part is road accessible allowing for easy ground follow-up and diamond drill testing.
Wildcat Hills Claims, S-135915, S-135916, S-135917 and S-135918 will be ground surveyed during the spring and summer of 2004 by Spectra Management Corporation of La Ronge Saskatchewan to be followed by scout diamond drill testing if results warrant.
CUMBERLAND
This area is home to the legend of Johnny Johnston a prospector from the early 1900's rumored to have recovered diamonds from the riverbeds that drain into the Cumberland River Delta. Several promising geophysical targets have been acquired by Global that appear to model above basement. Global management has been actively exploring in this area for over a decade, and believes that it has acquired the best targets available.
Global Plans to explore Cumberland Claims, S-135923, S-135924, S-135925 and Manitoba MB4787 this spring or early summer using helicopter airborne geophysics.
WASKESIU
As well, Global also owns 100% of the Sturgeon Lake "Claim S-136251" surficial kimberlite showing located north west of Prince Albert, Saskatchewan and is in the process of locating other targets in this area that may have been over-looked by previous operators. There are no immediate plans to further investigate the known kimberlite showing outside of routine independent petrographic analysis.
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, GPVI notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
AI
