trading range zw 0,0001 und 0,0002
urrent Price: $0.0001
Estimated Outstanding Shares: 37,000,000,000
Casavant Mining Kimberlite International (CMKM.PK)
Saturday, February 21, 2004
Diamond driller targets Weirdale
BARRY GLASS/Daily Herald
A small company has made big plans for diamond exploration work in the Prince Albert region this year. Casavant Mining Kimberlite International (CMKM.PK) recently announced it purchased its own drill rig and received financing to get started.
The company holds mineral claims to more than 1.4 million acres in the province in an area stretching from north of Candle Lake down to St. Louis.
"We anticipate to start drilling up by Weirdale," said company president Urban Casavant.Weirdale is 58 kilometres northeast of Prince Albert and close to the Fort à la Corne claims of other companies drilling for diamonds.
Casavant Mining's drilling program should begin within a month or so. "It's going to be an aggressive program," said Casavant. "We figure if we have no problems we can drill a hole a week."
He wants to drill several properties over the next two years at a cost of about $10 million. The company announced Friday a longtime individual investor in the company has put in $1.8 million US with a pledge of another $3.2 million US upon completion of a feasibility study and core sampling results. Casavant Mining is a Las Vegas-based company publicly traded in the over-the-counter securities markets.
Being located in the United States gives the company access to the money needed for its planned drilling, said the president. He said once people know how much work is involved in diamond exploration; they understand what it takes to get a mine into production. "It takes money and money and money and a little bit of luck," he said.
The company also has interests in property near Green Lake, 180 kilometres northwest of Prince Albert. Casavant Mining will use an outside contractor for drilling in that area so its own rig can stay in the Fort à la Corne region. Casavant said he's happy to be at this stage. "I've been at this prospecting and claiming land for about 15 years now," said the self-taught prospector. "So I've been chasing this for a long time, and it's finally all going to come together."
The company is involved with many other companies in joint ventures in the area, he said, adding it also hopes to do aerial survey work in the near future.
About Casavant Mining Kimberlite International
Casavant Mining Kimberlite International Inc (CMKM.PK). is a new company involved in the exploration for diamonds in the Canadian province of Saskatchewan.
Exploration is being aggressively pursued within the Fort á la Corne area in central Saskatchewan, where the company holds mineral claims to more than 1.4 million acres.
WHY DIAMONDS IN SASKATCHEWAN ?
1) One of the largest known kimberlite clusters in the world.
2) De Beers (The largest Diamond Company in the World) in joint ventures with Kensington Resources and Shore Gold; are actively mining for Diamonds in Fort a la Corne and there has been a recent discovery of a 10 carat plus diamond. At 10.23 carats, the stone is by far the biggest to ever come out of the prairie belt project, officially kicking of the mad diamond rush.
3) 130 of the 2000 kimberlite pipes known worldwide are macro-diamond bearing. 23 of these are located in the Fort a la Corne district of Saskatchewan.
4) 80% of Saskatchewans' kimberlite pipes are diamondiferous.
5) 50% contain diamonds over one millimeter in size.
6) A high percentage of diamonds recovered are clear, inclusion-free and exhibit good crystal form.
7) Pipes said to have erupted under inland sea and therefore have not been exposed to weathering or glaciation.
8) Pipes lie within 300 feet of surface.
9) Area accessible by paved all-weather road, with water and power readily available.
10) Studies indicate cash operating costs of $10.50 per tonne, including overburden removal.
11) Saskatchewan government encourages mining in the province.
For the Latest Press Releases please visit: http://www.casavantmining.com/news.html
Investment Opportunity:
Casavant Mining (CMKM.OB) was created last year through the transformation of Cyber Mark International, and it has been quite colorful since it took up the pursuit of diamonds. The company is listed on the mighty pinks in the United States, and at last report there were billions of shares outstanding. As a result, the stock is a trader's dream with a share price that has been lingering near one-100ths of a U.S. cent, but which occasionally has spiked upwards, offering the enticement of a quick triple, or better. Casavant Mining has been retiring billions of its outstanding shares of late -- more than 13 billion at last count. Some of the Casavant claims are within 10 kilometres of Shore Gold's Star kimberlite and Kensington's No. 141 pipe, both to the west and east.
As well, some of the claims are within five kilometres to the west of Kensington's No. 150 and No. 122 pipes, which apparently remain priority pipes for the joint venture, and other claims appear to lie within the northwesterly trending lines of kimberlite finds in the region. As a result, a drill program on the Casavant ground could stir up some speculative notice, especially if Shore and Kensington can come up with toutable results from their key projects in the coming months. If or when CMKM hits pay dirt and finds Diamonds wont you be glad you own a few million shares?
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