NUNAVUT – COMMITTEE BAY RESOURCES of Edmonton, Alta., has approved an $8-million exploration budget for 2005 at its self-named gold project near Baker Lake. The program will include 5,000 line-km of airborne geophysical surveys to cover at least 10 significant project areas in April and May. Detailed gridding and ground magnetic surveying are planned for high priority targets. Drilling has begun at the Raven discovery and will be followed by drilling at Inuk, Three Bluffs, West Plains, Anuri and Betwixt.
The 2005 program follows a very successful 2004 exploration program where an inferred resource of 1.9 million tonnes at 8.0 g/t Au for 487,000 oz was established at Three Bluffs.
Committee Bay recently announced joint-venture partner GOLD FIELDS EXPLORATION has agreed to convert its 55% interest in the project into common shares of Committee Bay, giving that company the opportunity to regain 100% of the Committee Bay gold project. Stay abreast of progress at the project by signing up for the latest e-mail alerts at www.CommitteeBay.com.