skidude ;-)
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VANCOUVER, Feb. 5 /CNW/ - Robert L. Card, President of Gulfside Minerals Ltd., ("Gulfside" or the "Company") (TSXV: GMG), is pleased to report that the Company has signed two Letters of Intent ("LOI") to acquire additional Licenses comprising 10,319 hectares (25,499 acres) adjoining its Onjuul and Black Hole projects to the north and north east which are located 170 km south west of Ulaanbaatar in Mongolia. The agreements call for payments in cash and shares over a 27 month period and are subject to TSX Venture Exchange ("TSX") approval.
Gulfside has engaged Norwest Corp., of Salt Lake City Utah ("Norwest"), to oversee the exploration of the Onjuul and Black Hole projects. Initial indications from the first phase of the drilling program suggest the coal bearing structure trends north and east into the licenses covered under the LOI's.
Phase 2 of the drilling program is scheduled to resume this spring with a goal to confirm and expand the current historical resource as well as step out into the newly acquired licenses.
The table below summarizes four of the closest holes to the proposed property. The total coal in all drill holes from the first phase of the drill program range from 16.50 meter to 57.70 meters and the thickest seams range from 8.10 meters to 42.40 meters. These results were reported on a news release dated December 22, 2009.
The Company is also pleased to report that the vendors of the Black Hole project has agreed to a modification of terms of acquisition by reducing and extending the terms of cash payments and have demonstrated their faith in the project by accepting Company shares for partial payments. The amended agreement is subject to approval by the TSX.
After arriving back from Mongolia on February 1, 2010 Gulfside President, Robert Card said, "I believe that these new licenses provide an opportunity to expand our resource base in the region."
Kerry F. Griffin BSc., Diploma Eng Geol, MAIG, an independent consultant to the Company and the qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
Gulfside Minerals Ltd.
"Robert L. Card"
Robert L. Card
President
www.newswire.ca/en/releases/archive/February2010/05/c7243.html
Sehr interessant ist der markierte Abschnitt, der Verkäufer akzeptiert Shares weil er vertrauen in das Projekt hat. Fein, die Onjuul-gegend scheint recht interessant zu sein, sonst würde man nicht weitere Gebiete erwerben wollen und die Aussichten scheinen auch gut zu sein, sonst würde kein Verkäufer Shares akzeptieren sondern hätten Cash sehen wollen.
Der Verkäufer wird jedenfalls mehr Ahnung und Wissen über die laufenden Projekte haben als unsere Aktionärsschützer die hier ständig warnen. Deswegen bleibe ich dabei, selbst INFORMIEREN und sich die letzten Bohrergebnisse anschauen, dann sieht man was für ein Potential sich dort verbirgt.
Wünsch euch was!
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