Business Services Industry
Norcal Resources Ltd. - Property Acquisition In Voisey Bay, Labrador
Business Wire, May 15, 1995
VANCOUVER, B.C.--(BUSINESS WIRE)--May 15, 1995--NORCAL RESOURCES LTD(VSE: NLR ) Norcal Resources Ltd. announces that it has entered into a property option agreement with Explorado Resource Management Ltd. ("Explorado") to acquire a 100% interest in 20 mineral claims situated in the Voisey Bay area of Labrador, Canada. The claims are referred to as the Alliger Lake Group of claims.
In consideration for the acquisition of these claims, Norcal will pay $10,000 cash and issue 100,000 shares of its capital to Explorado who will retain a 1% NSR on the property. This transaction is subject to the approval of the Vancouver Stock Exchange.
Related Results
The claims cover a portion of a linear magnetic anomaly on the margin of the Nain anorthosite, just north of a northwest trending fault.
NORCAL RESOURCES LTD.
Donald A. McLeod
President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
CONTACT: Judee Fayle
Manager, Investor Communications
604/687-7545
604/689-5041 (Fax)
INDUSTRY KEYWORD: ENERGY REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or
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