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| | Wed Oct 1, 2003
Muskox Minerals Corporation Enters into Option to Acquire Canadian gold property asset
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| | Muskox Minerals Corp. ("MSK") is pleased to announce that it has signed a Memorandum of Understanding (MOU) with a private party for an option to purchase a significant mineral property asset (the "Property") in the Pine Creek sector of the Atlin District of British Columbia, 180 km NNE of Juneau, Alaska and 200 km SW of Whitehorse, Yukon Territory. The 1500 hectare Property hosts a Motherlode-type vein gold system which was partly explored by Homestake Mineral Development Corp. in the period 1986-88. The Property is highly accessible and is located on an all-year road only 9 km from the town of Atlin.
The Atlin area is renowned for its locally-derived, rich alluvial placer gold deposits. The area of Pine Creek has been the largest placer-gold producing sector in the district, yielding a reported 140,832 ounces of gold since 1898. Much of the placer gold was very coarse grained and nuggets of up to 48 ounces were recovered in 1925. Beneath these placer deposits, the bedrock gold deposits of the Property occur along a faulted zone at the contact between serpentinized ultramafic rocks and mafic volcanics. Such a relationship is similar to that seen in the Motherlode district of California and is referred to as a "Listwanite association".
Dr. Roger D. Morton P. Geol, President of Muskox Minerals observed. . . "The acquisition of the Pine Creek gold Property is a significant development in our corporate strategy. In an era of rising gold prices we feel our shareholders should benefit by bringing this timely facet of operations to the company. Whilst Anglo American is busy exploring our Muskox Layered Intrusion property, seeking nickel, copper and platinum group metals, our own team can bring concurrent news of progress on this promising, relatively advanced, Motherlode-type gold exploration program. We intend to start work immediately on the exploration data and hope to start an initial field program in the coming weeks."
ON BEHALF OF THE BOARD OF
MUSKOX MINERALS CORP.
"Roger Morton"
Dr. Roger D. Morton
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact Dr. Roger D. Morton at (780) 990-9610 or consult the web page www.muskoxminerals.com |
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| | You can view the Next News Releases item: Mon Oct 20, 2003, Muskox Minerals Corporation Enters into Option to Acquire Canadian gold property asset
You can view the Previous News Releases item: Tue Sep 23, 2003, Muskox Minerals Corp. and Anglo American Exploration (Canada) Ltd. Completion of Phase 1 program on the Muskox Layered Intrusion
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