Star Uranium drills diamonds on Carolyn
2006-10-31 19:11 ET - News Release
Also News Release (C-GBN) Golden Band Resources Inc
Mr. Rick Walker reports
Star Uranium Corp. has signed a letter of intent with Golden Band Resources Inc. whereby the company is selling its 50-per-cent interest in three mineral claims in the Dickens Lake area of Northern Saskatchewan to Golden Band. The company will receive $20,000 and 150,000 shares of Golden Band as payment and will retain a 1-per-cent net smelter return royalty in the properties. Golden Band will have the right to reduce the royalty to 0.5 per cent by making a cash payment of $250,000 to Star Uranium.
The company also reports that Ralph Newson of Saskatoon, PEng, PGeo, and the qualified person on Star's Smeaton, Sask., diamond property, has received results from the Saskatchewan Research Council lab on samples submitted from two drill holes on the Carolyn kimberlite. Analysis of approximately 210.9 kilograms of split NQ core from holes C4 and C5 yielded six diamonds. The other half of the split core has been retained in a secure building.
Analysis was by total dissolution using caustic fusion, carried out by the Saskatchewan Research Council, which is certified under ISO 17025.
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