Waseco Resources Inc - News ReleaseAttawapiskat Drilling Program
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| Waseco Resources Inc | "YRI" TSX-V | |
| September 13, 2004 | News Release | |
| Toronto - September 13th, 2004-Waseco
Resources Inc. is diamond drilling one of several
targets identified initially from airborne geophysics
and then from a detailed total field magnetic survey
over selected portions of the Company's Attawapiskat
Diamond Project, in northwestern Ontario. |
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| The target is situated to the east of
the De Beers Uniform Pipe discovery. The target is
comprised of two anomalies represented by magnetic
high signatures. One is egg shaped in appearance,
being approximately 100 meters in length and 50 meters
in width; the second, approximately 75 meters to its
south, is circular, measuring approximately 25 meters
in diameter. The dip appears to be near vertical.
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| This target area is highly prospective
for diamondiferous kimberlites. In addition to the
Uniform Pipe, which is reported to be diamond bearing
and is in immediate proximity of the target, numerous
diamond pipes and dykes occur around the survey area.
Specifically, the De Beers' Victor Pipe, and Spider/KWG's
MacFadyen project, being a cluster of pipes and an
associated northwest trending kimberlitic dyke located
immediately southwest of the property, are currently
being investigated for commercial mining. |
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| The Heath & Sherwood light weight
JKS 300 drill, using BW thin wall core, is being made
available by Spider Resources and KWG, who are jointly
conducting an ongoing program on the adjacent property
to the west. The Company is pleased to have a suitable
drill, an experienced crew, and to be able to realize
significant cost savings by using our neighbour's
infrastructure. The drill was moved on to the property
on Sunday and drilling is scheduled to start today
under the direction of Dr. Howard Lahti, Ph. D. Geo.,
who is a qualified person under NI 43-101. |
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| Waseco has an option to earn up to a 40%
interest in the 2,440 acre property together with
a right of first refusal to earn an additional 9%
interest from Dialex Minerals Inc. (DLXM-OTC-BB).
Waseco currently has 26,201,321 common shares outstanding.
Further corporate information can be found on the
Company's web site at www.wasecoresources.com. |
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| ON BEHALF OF THE BOARD | ||
|
Richard Williams
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