TORONTO, Sept. 19 /CNW/ - Canadian Orebodies Inc. (TSXV: CO) the
("Company") is pleased to announce that a drill program has commenced on its
Coral Rapids property to test the potential of the known limestone deposit.
The Company has contracted Cartwright Drilling Inc. (independent of the
Company) of Goose Bay, Labrador to complete the drilling program. The program
is designed for the purposes of collecting a bulk sample and calculating a
National Instrument 43-101 compliant resource estimate. The bulk sample is
required for several tests that will establish the grade and quality of the
limestone. Information to be gathered from this drill program and subsequent
tests will be used to determine further work programs on the deposit and to
give indication if production from the deposit would be feasible.
Logistically the Coral Rapids property is situated in a very advantageous
area, located approximately 130 kilometres north of Smooth Rock Falls. There
is road access to the property with both hydro and rail lines running directly
over the property.
Additional information with respect to the Coral Rapids Project is
contained in the technical report dated October 6, 2004, relating to the Coral
Rapids Project entitled "Technical Report on the Coral Rapids Don McKinnon
Property for Baltic Resources Inc." (the "Coral Rapids Technical Report"). A
copy of the Coral Rapids Technical Report may be obtained from SEDAR at
This press release has been prepared under the supervision of Mr. John
Boissoneault (P. Eng.), who is an independent consultant to the Company and a
"qualified person" as such term is defined in National Instrument 43-101. Mr.
Boissoneault has reviewed and approved the technical information disclosed in
this press release.
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation, statements relating
to the collection of a bulk sample and the preparation of a National
Instrument 43-101 compliant resource estimate and the establishment of the
grade and quality of the limestone, exploration results and the Company's
plans with respect to the exploration and development of the Coral Rapids
Projects) are forward-looking statements.
These forward-looking statements reflect the current expectations or
beliefs of the Company based on information currently available to the
Company. Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking statements, and even if
such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to differ
materially from current expectations include, among other things, changes in
commodity prices, changes in equity markets, failure to establish mineral
resources, changes to regulations affecting the Company's activities, delays
in obtaining or failures to obtain required regulatory approvals,
uncertainties relating to the availability and costs of financing needed in
the future, the uncertainties involved in interpreting drilling results and
other ecological data, and the other risks involved in the mineral exploration
and development industry. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future
events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance and
accordingly undue reliance should not be put on such statements due to the
inherent uncertainty therein.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information:
For further information: Gordon McKinnon, President & CEO, Canadian
Orebodies Inc., (705) 268-9000