Knight Resources Ltd.: Surface Exploration Program Begins at West Raglan
22 Juin 2009 - 3:00PM
Marketwired
Mr. Harvey Keats, Chief Executive Officer of Knight Resources Ltd.
(TSX VENTURE: KNP)(FRANKFURT: KRL), reports that Anglo American
Exploration (Canada) Ltd. has approved a $3.5 million dollar
exploration program for nickel- copper- PGE mineralization on the
West Raglan joint venture project in Northern Quebec to be
conducted during the summer of 2009. The Company has decided not to
fund its share of this program and will dilute from its current 49%
interest in the Joint Venture to approximately 45% rather than
suffer significant equity dilution as a result of current market
conditions. However Knight is committed to the West Raglan Project
and the potential for more discoveries.
The program will consist of surface geophysical surveys
utilizing conventional EM, Squid EM and magnetic instrumentation in
conjunction with geological and geochemical surveys on the
extensive occurrences of ultramafic rocks that occur throughout the
710 square kilometre joint venture property. The objective of the
program is to develop a pipeline of new drill-ready targets outside
of the Frontier mineralized area. This entails 1) evaluating and
surveying the ultramafic rocks within the 65 kilometre length of
the Raglan trend covered on the West Raglan property and 2)
investigating selected areas of ultramafic rocks in the Povungnituk
group in the southern parts of the property.
Knight will continue to be actively involved with the program
during this period of non-participation. The 2009 program has just
begun.
General Information
The West Raglan Project is a joint venture between AAEC and
Knight. The West Raglan Project in Northern Quebec covers over 710
square kilometres and includes approximately 65 kilometres of the
Raglan Horizon along which extensive ultramafic rocks typically
occur and a large area of the Povungnituk Group which also contains
abundant ultramafic rocks. AAEC is the operator of the West Raglan
Project and is responsible for the sampling, submittal of samples
for assay and QA/QC. Robin Adair, VP of Exploration, is the
Qualified Person responsible for the technical information in this
news release.
ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.
Harvey Keats, CEO
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Knight Resources Ltd. Harvey Keats CEO (604) 684-6535
(604) 602-9311 (FAX) knight@bed-rock.com www.knightresources.ca
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