KIRKLAND LAKE, ON, Sept. 23 /CNW/ - RJK Explorations Ltd. (TSX VENTURE: RJX.A) has completed the previously announced VTEM survey over its 1,570 hectare Buda Property located approximately 85 kilometers northwest of Thunder Bay, Ontario.
The Buda property was acquired to cover a roughly circular magnetic anomaly partially defined by the 1991 OGS Shebandowan airborne magnetic and electromagnetic survey. Management believes that this feature may represent a substantial magmatic intrusive complex and a favorable setting to host Cu, Ni, Pt, Pd mineralization similar to the past-producing CVRD-Inco Shebandowan deposit now under option to North American Palladium Ltd., and located approximately 35 km to the east of the Buda property.
Upon receipt of the final maps and report, a prospecting program will be initiated on anomalies depicted by the survey. Finalized maps will also be posted to the Company's website.
As previously disclosed, the Company will pay a finder's fee consisting of $5,000 cash, 50,000 shares and a 1% NSR to which 50% may be purchased for a payment of $250,000.
Forward looking statements: This news release contains certain forward -looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond RJK's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Although RJK believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Web Site: http://www.rjkexplorations.com
SOURCE RJK Explorations Ltd.
For further information: For further information: Glenn C. Kasner, President, Telephone: (705) 567-5351, Mobile: (705) 568-7567, E-mail: firstname.lastname@example.org; James Hitchie, Advisor, E-mail: email@example.com