IDCN - News out...
Indocan Partner Thunder Bay Minerals Complete Filings in Ontario
2010-02-23 07:07 ET - News Release
THUNDER BAY, Ontario, Feb. 23 /PRNewswire-FirstCall/ -- Indocan Resources, Inc. (OTC: IDCN) Thunder Bay Minerals, our partners in the Hockey Stick property in NW Ontario completed filings yesterday for work completed in the most recent period. The report was prepared by the geologist and the site manager.
The Hockey Stick property held by the group known as Thunder Bay Minerals has an agreement with Indocan through our subsidiary Sierra Cora Ltd., which will be owned 50% - 50% by each party once the contractual obligations of both parties are in place.
We will commence sampling in the coming days once our geologist has submitted, and we have approved the winter/spring sampling program scheduled to be completed in May. This sampling is intended for the discovery of a significant mineral deposit in a new or previously exploited area. The entire process will be supervised by our geologist in order for us to be able to develop a National Instrument 43-101 ("NI 43-101") compliant technical report. Such reports, standardized in Canada have become a world benchmark for mining properties.
Defined mineralization of gold (Au) and secondary mineralization of silver (Ag) and copper (Cu) have been previously studied on this property. The details of the sampling program will be put forth by our geologist and our press releases will be NI 43-101 compliant.
The Company will carry out additional metallurgical testing to assist in determining the process parameters to be used in preparation for advanced studies.
Indocan has agreed to provide capital and other good and valuable considerations in exchange for a full interest in a property known as Hockey Stick, which comprises a collection of mining claims in the Thunder Bay District of NW Ontario.
More information can be learned by visiting our website: www.indocan.com
We seek "Safe Harbor"
Company Info: +1-406-322-3844 Jeffrey R Bruhjell, president
CONTACT: Investor Relations, Ken Ash +1-910-300-8189
SOURCE Indocan Resources, Inc.
AI
