Post by pj on May 31, 2007 5:23:40 GMT -6
knobias.10kwizard.com/contents.php?repo=tenk&ipage=4968627&exp=Mining
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Excerpts in reference to 2007:
On February 13, 2007, the Company entered into a Mineral Property Option agreement with Abbastar Holdings Ltd. (Abbastar), a Vancouver based TSX Venture listed company, whereby Abbastar could earn up to 70% interest in the Doran property by paying the Company a one time $100,000 CDN payment (upon filing of the agreement) and expending $5,000,000 (five million) over four years. The TSX Venture Exchange has not approved this transaction as of April 10, 2007.
On May 11, 2007, Entourage and Abbastar announced that drilling had commenced on the “L” anomaly of the Doran project and as of this report 11 holes have been completed. It is expected that the drilling will commence on the “N” anomaly by June 1, 2007. All drill results will be published when available.
The Company is prospecting for uranium in Saskatchewan and Quebec. It is anticipated that uranium generated power will become more popular in the decades to come as rising oil prices and political strife in the world’s oil producing regions continue. In 2005, the annual spot volume of U3O8 reached 35 million pounds and production of uranium, if any, by the Company would have no significant effect on the price of uranium.
The market for diamonds, for which the Company’s Smeaton Lake properties are prospective, is primarily managed by cartel. However, although the CSO (the Central Selling Organization) still distributes and markets the majority of the world's rough production, the introduction of new sources of rough (Australia, Russia, Canada, and parts of Africa) has considerably changed the controlled single market system. Any production of diamonds by the Company would likely have no measurable effect on the world prices.
On March 17, 2007 the companies began stage two of the drilling program at Hatchet Lake. This phase is to consist of 8 drill holes and is designed to continue where the 2006 program was terminated. To date four holes have been drilled on the project in 2007 and assay results are pending.
The Smeaton/Forte a la Corne properties were acquired by way of an option agreement between Entourage Mining Ltd. and “10104075 Saskatchewan Ltd., a private Saskatchewan company. The original claim blocks consisted on 1087 claims encompassing approximately 1.5 million acres situated in the Smeaton, Forte a la Corne, Candle Lake areas of central Saskatchewan.
Dr. Paul Shatzko, Chairman of the Board, Director
Mr. Gregory F Kennedy, President, CEO and Director
Mr. Michael B Hart, Director
Corey Klassen, Director
Pradeep Varshney, Chief Financial Officer
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Excerpts in reference to 2007:
On February 13, 2007, the Company entered into a Mineral Property Option agreement with Abbastar Holdings Ltd. (Abbastar), a Vancouver based TSX Venture listed company, whereby Abbastar could earn up to 70% interest in the Doran property by paying the Company a one time $100,000 CDN payment (upon filing of the agreement) and expending $5,000,000 (five million) over four years. The TSX Venture Exchange has not approved this transaction as of April 10, 2007.
On May 11, 2007, Entourage and Abbastar announced that drilling had commenced on the “L” anomaly of the Doran project and as of this report 11 holes have been completed. It is expected that the drilling will commence on the “N” anomaly by June 1, 2007. All drill results will be published when available.
The Company is prospecting for uranium in Saskatchewan and Quebec. It is anticipated that uranium generated power will become more popular in the decades to come as rising oil prices and political strife in the world’s oil producing regions continue. In 2005, the annual spot volume of U3O8 reached 35 million pounds and production of uranium, if any, by the Company would have no significant effect on the price of uranium.
The market for diamonds, for which the Company’s Smeaton Lake properties are prospective, is primarily managed by cartel. However, although the CSO (the Central Selling Organization) still distributes and markets the majority of the world's rough production, the introduction of new sources of rough (Australia, Russia, Canada, and parts of Africa) has considerably changed the controlled single market system. Any production of diamonds by the Company would likely have no measurable effect on the world prices.
On March 17, 2007 the companies began stage two of the drilling program at Hatchet Lake. This phase is to consist of 8 drill holes and is designed to continue where the 2006 program was terminated. To date four holes have been drilled on the project in 2007 and assay results are pending.
The Smeaton/Forte a la Corne properties were acquired by way of an option agreement between Entourage Mining Ltd. and “10104075 Saskatchewan Ltd., a private Saskatchewan company. The original claim blocks consisted on 1087 claims encompassing approximately 1.5 million acres situated in the Smeaton, Forte a la Corne, Candle Lake areas of central Saskatchewan.
Dr. Paul Shatzko, Chairman of the Board, Director
Mr. Gregory F Kennedy, President, CEO and Director
Mr. Michael B Hart, Director
Corey Klassen, Director
Pradeep Varshney, Chief Financial Officer
