MANITOBA – A MEGATEM II data evaluation over the Seal River project area in northern Manitoba has identified 30 additional anomalies, interpreted as possible kimberlites. The property is owned by NUSTAR RESOURCES INC. and CANDOR VENTURES CORP., which plan to merge soon to create CANSTAR RESOURCES INC. (www.canstarresources.com). The new anomalies are along trend from the 500-metre-wide SR02 kimberlite target previously identified by Nustar partner BHP BILLITON.
Diamond giant DE BEERS and a third party carried out a massive, 19,600-square-kilometre staking campaign on Dec. 9, 2004, encompassing and extending east of the Nustar/BHP Billiton claims. This prompted Nustar to stake a further 34,998 ha of ground in the area, for a total of 43,958 ha.
Nustar can earn up to 51% interest in the mineral and diamond rights within the Seal River project area from BHP Billiton. A program of ground-based time domain electro-magnetic geophysics will commence over the company’s claim clusters in January to precisely define targets for follow up drilling. Management intends to drill-test the SR02 target in April 2005, along with at least five base metal prospects.
Further information about this emerging diamond and Broken Hill-type base metal terrain is available from Nustar president Kevin M. Keough at (613) 839-2684 or Candor president Paul Chamois at (416) 363-4377.