 |
Cochrane Pond Uranium
Despinassy Gold, Quebec
TAM Project, Cu-Au-Mo, BC
Olympic-Rob, Cu-Au-U, Yukon
Nepisiguit-Stewart, Zn-Cu, New Brunswick
Pelly Gold, Nunavut
Diamonds, Nunavut
Lochinvar, Zn-Cu, Newfoundland
Sabin, Zn-Cu, ON
Omineca, Cu-Au-Mo, BC
| | |
COCHRANE POND
The Company and Bayswater jointly staked the 61,000 hectare Cochrane Pond property to cover ground with geological similarities to the main property holdings. The Cochrane Pond Property is a 50:50 Joint venture operated by Commander. Preliminary evaluation of this property in planned for 2007.
A small portion east of the White Bear River was flown with a radiometric survey late in the season. A number of anomalies were located and some prospecting is intended before year-end 2006.
Date: April 13, 2007
CMD NEWS RELEASE
COMMANDER AND BAYSWATER OPTION COCHRANE POND TO GLOBAL GOLD URANIUM
Commander Resources Ltd. (CMD-TSX Venture) and Bayswater Uranium Corp. (BAY-TSX Venture), collectively, the "Companies" report they have entered into an agreement with Global Gold Uranium LLC ("Global Gold Uranium"), a wholly owned subsidiary of Global Gold Corporation ("Global Gold") whereby Global Gold Uranium may earn up to a 60% interest in the Companies 2,600 claim, 61,000 hectare Cochrane Pond property located in southern Newfoundland (the "Property"). The Companies own the Property under a 50:50 Joint Venture. Commander is the Operator. The claims were staked jointly by the Companies' in early 2006 to cover favourable geology after uranium discoveries were made on Commander's adjacent Hermitage Property. No significant exploration work has been done on the Property.
Under the agreement, Global Gold Uranium may earn an initial 51% working interest in the Property over a four year period by making total cash payments to the Companies of US$700,000, issuing 350,000 shares of Global Gold and completing exploration expenditures of $3.5 million (the "Initial Option"). Of the total cash payments, USD$200,000 is payable upon signing and approval, and of the total shares, 150,000 shares are to be issued on signing and approval. The first years committed work expenditure is $500,000.
Read the balance of this news release HERE
|
