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Augusta Resources is currently engaged in diamond exploration in the Coronation Gulf District of Nunavut, Canada. Not to confuse you but Augusta Resource Corp. is evidently really the same group of people as Augusta Gold Corporation (now Pulse Data Inc.), Augusta Metals Inc. (now Cybercom Systems Inc.), and Augusta Corporation (AOU:CDNX).

 

Augusta Resource Corp.              [YAU:TSX-V]  

Guadalupe y Calvo Project Chihuahua. Reached an agreement with V.Fund Investments Ltd. to acquire up to a 65% interest in property previously evaluated by Glamis Gold via jackleg drilling and trenching early in 1994. The property contains the Rosario Mine, one of Mexico's most important past producers, recording a production of over 2Moz Au and 28Moz Ag. Around 110 jackleg holes from the surface averaging 5.3m deep averaged 1 gpt Au and 93 gpt Ag. Underground around 102 jackleg holes averaging 4.97m long averaged 1.5 gpt Au and 78 gpt Ag. V. Fund subsequently completed 50 trenches.

Completed an 8-hole RC program totaling 1093 m on 03/22/00 with positive results for high-grade Au-Ag mineralization. Hole #1 included 3 m of 12.9 gpt Au and 153 gpt Ag. Several  other holes included half that interval at even better grades. Property was drilled by Dateline out of Hermosillo and assays were by Chemex prepped in Chihuahua and sent to Vancouver.

Press Release 21Mar00
GCN #21 1Feb99

Ocampo Au-Ag Property, Chihuahua. (NOTE: This area is the same one that has somehow ended up with Gammon Lake). Augusta Resources reached an agreement to acquire a 50% interest in a property from Mogul Mining N.L. in historic Au-Ag district. The original price was 10.72 million shares of Augusta; however, they re-negotiated this deal in August, 1999 into a option/JV agreement where Augusta could earn 25% interest from by completing the balance of $1.1M in work expenditures prior to 1/21/2000. Augusta has a first right of refusal on the remaining 25% controlled by Mogul. Mogul had roughly drilled it out in the last couple of years and Augusta is defining the reserve base. Resource was initially calculated at 5.8 M tonnes at 2.2 gpt Au and 100 gpt Ag or (4.2 gpt Au-equivalent or 785,000 equivalent ounces using a 1.0 gpt Au-equivalent cut-off.) Augusta initiated a 40 hole 8,000 m drilling program in February, 1999. Work prior to that date had outlined mineralization in 4 zones: Plaza de Gallos, Refugio, Conico and Picacho. Breccia hosted mineralization. Reports that 1700m completed by March 1999 to extend mineralization in Picacho and Plaza de Gallos Zones. 

Press Release 6Aug99
Press Release 4Mar99
GCN #23 3Feb99
MBD January, 1999
GCN #236 9Dec98

El Real Concession, Zacatecas. Had optioned a 50% interest in this 2000 Ha claim in Feb. 1998 jointly from Teuton Resources Corp. and Minvita Enterprises (Minera Alexandra S.A. de C.V.); however Augusta Gold Corp. (related to Augusta Resource Corp.) terminated this agreement and dropped interest in January, 1999. (Note that Augusta Gold Corp. subsequently changed name to Pulse Data Inc. on 15Oct99 and entered oil & gas sector)

CSW 29Jan99
GCN #18 27Jan99
CHM 1998-1999