Senator Minerals Inc ~ News Releases in 2004
2004-16 22 Dec 04 Sale of Key & Okey option agreements
Senator Minerals Inc (“the Company”) reports that regulatory approval has been received for an agreement through which Senator will sell its options to earn 50% interests in the Key and Okey copper properties back to the non-arms-length optionor.
Terms of the agreement include the payment of an aggregate amount of $150,000 cash, which will return more than the book value of the subject properties. Additional consideration consists of the payment of up to 200,000 shares of Aries Resource Corp, and the awarding of a 1% Net Smelter Return (NSR) on each property.
A finders’ fee is payable on this transaction.
2004-15 25 Nov 04 Update on Cortez Hills area
Senator Minerals Inc (“the Company”) reports on its 100% owned Cortez South and Gold Valley properties, both located in Lander County, Nevada, on the Battle Mountain Trend.
NI 43-101-compliant reports on both properties have been prepared and are available on Sedar and on the Company’s web site.
There are two deposit types targeted on the properties. The main focus of exploration will be tabular Carlin-type gold deposits, with finely disseminated gold in carbonate rocks. The secondary focus will be low-sulfidation epithermal veinhosted gold-silver “bonanza” deposits found within the Northern Nevada Rift structural system.
Recommended exploration programs consist of geophysical and geochemical ground work to define drill hole locations, followed by reverse circulation drilling to test targets at depth.
2004-14 25 Nov 04 Change of directors
Senator Minerals Inc (“the Company”) announces that Jeffrey P. Scouten, a partner in the law firm of Scouten Paez & Company, a litigation specialty firm with offices in Vancouver and on Bowen Island, has been appointed as a director, effective immediately. Mr Scouten has practised for 20 years, primarily in the areas of commercial and insurance litigation, mining litigation and administrative law.
Before becoming a lawyer, he worked for seven years as a prospector in British Columbia, the Yukon Territory, Manitoba, Ontario, Nova Scotia, and Labrador. In 1982 and 1983, he organized and headed up prospecting syndicates in Northwestern Ontario which led to the staking of grassroots mineral properties later optioned to Sherritt Gordon and Homestake.
Since becoming a lawyer in 1984, Mr. Scouten has had extensive experience as trial and appellate counsel before all levels of Courts in British Columbia. He has also acted as counsel in disciplinary and other administrative proceedings before numerous bodies, including the Law Society of British Columbia, the BC College of Teachers, the College of Dental Surgeons, the College of Physicians and Surgeons, the BC Human Rights Commission and the BC Real Estate Commission. For the past several years, Mr. Scouten has also served as a Group Leader for the annual Trial Advocacy Workshop hosted by the BC Continuing Legal Education Society.
Mr. Scouten also acted as counsel for the successful party in the Braintech Inc. v. Kostiuk case, the 1999 decision of the BC Court of Appeal which, for many years, ranked as the leading Canadian case authority in the emerging law of the internet. Since 1999, Mr. Scouten has appeared as a speaker and guest lecturer on several occasions at conferences and seminars in the field of internet and information technology law.
From 1993 to 1994, Mr. Scouten served as a member of the Executive Committee of the BC Branch of the Canadian Bar Association. In 1996, he received the CBA National’s Centennial Medal in recognition of his outstanding contributions to the legal profession. From 1999 to the present, he has served as a Governor of the Law Foundation of British Columbia.
Mr Scouten replaces James G.G. Watt, who has resigned as a director, in order to concentrate on his role as president of Clan Resources Ltd, a TSX-V company focused on acquisition, exploration, and development of uranium properties. Management and directors of Senator wish to thank Mr. Watt for his contributions during the time of his directorship of the Company.
2004-13 23 Nov 04 Update: Ivanhoe Creek property, NNR
Senator Minerals Inc (“the Company”), operator of the Ivanhoe Creek project which is situated along the north-northwest-trending Northern Nevada Rift, announces that all geochemical and geophysical work has been completed. The objective was to assess the potential for the Ivanhoe Creek property to host low-sulfidation epithermal vein-style gold-silver mineralization similar to the nearby Midas, Mule Canyon, and Ivanhoe-Hollister deposits.
Geophysical work included CSAMT, gravity, and magnetic surveys, with a summary report prepared by Wright Geophysics of Spring Creek, NV. A National Instrument 43-101-compliant report has been prepared by Edward Harrington, PGeo, of Reliance Geological Services Inc, a qualified person within the meaning of NI 43-101 of the Canadian Securities Administrators. The full report is available on Sedar and on the Company’s web site.
The Ivanhoe Creek property is considered to have good potential to host vein-style gold-silver mineralization. A thirteen-hole program consisting of approximately 6000 feet of reverse circulation and 3000 feet of diamond drilling has been recommended. A Notice of Work for the proposed drill program has been filed with the Bureau of Land Management office in Elko, NV.
Work to date has been funded by Kent Exploration Inc (“Kent”), a private company that is earning a 50% interest in the Ivanhoe Creek property through property payments and the financing of Phase 1 work including the initial drill program. To raise the requisite funds, Kent is planning a public offering early in 2005.
2004-12 8 Oct 04 1.5M private placement (not completed)
Senator Minerals Inc (“the Company”) announces a non-brokered 1,500,000 unit private placement subject to the approval of the TSX Venture Exchange. Each unit consists of one common share at $0.18 and one warrant for the purchase of one common share during the first year at $0.22 and during the second year at $0.30.
Initial net proceeds are $270,000. Funds will be used for working capital and for execution of the Company’s business plan.
2004-11 1 Oct 04 Acquisition: Gold Valley property, Cortez Hills area
Senator Minerals Inc (“the Company” or “Senator”) announces that it has acquired a second property in the Cortez Hills area of Lander County, Nevada through staking a 100% interest in the 720 acre Gold Valley property.
The Gold Valley property is situated approximately 15 kilometers (9 miles) south-southwest of the Cortez Joint Venture’s (CJV) Cortez Hills gold deposit, 6.5 kilometers (4 miles) east-southeast of the Toiyabe gold deposit, and 1.8 kilometers (1.1 miles) south of Bullion River Gold’s Wenban Spring property.
The Gold Valley property is in the western part of the northwest-trending Battle Mountain/Eureka mineral belt which contains productive, bulk-mineable, sediment- and volcanic-hosted gold deposits including Pipeline/South Pipeline, Cortez Hills/Pediment, Cortez, Mule Canyon, Hilltop, Tonkin Springs, Gold Acres, Gold Bar, and Ruby Hill, which account for over 22 million ounces of gold. This northwest trend is the dominant control orientation for Carlin-type sediment- and volcanic-hosted epithermal gold deposits in the Cortez region.
2004-10 30 Sep 04 Acquisition: Cortez South property, Cortez Hills area
Senator Minerals Inc (“the Company” or “Senator”) announces that it has acquired through staking a 100% interest in the Cortez South property, located in Lander County, Nevada.
The Cortez South property, comprising 36 claims totaling 720 acres, is situated approximately 13 kilometers (7.8 miles) south-southwest of the Cortez Joint Venture’s (CJV) Cortez Hills gold deposit, 6 kilometers (3.5 miles) east-southeast of the Toiyabe gold deposit, and immediately south of Bullion River Gold’s Wenban Spring property.
The Cortez South property is in the western part of the northwest-trending Battle Mountain/Eureka mineral belt which contains productive, bulk-mineable, sediment- and volcanic-hosted gold deposits including Pipeline/South Pipeline, Cortez Hills/Pediment, Cortez, Mule Canyon, Hilltop, Tonkin Springs, Gold Acres, Gold Bar, and Ruby Hill, which account for over 22 million ounces of gold. This northwest trend is the dominant control orientation for Carlin-type sediment- and volcanic-hosted epithermal gold deposits in the Cortez region.
2004-9 27 Sep 04 Ivanhoe Creek update
2004-8 24 Sep 04 1% NSR earned on Rosebud
2004-7 23 Sep 04 Northern Nevada Rifts (NNR) transactions approved
2004-6 16 Jul 04 $324,000 private placement completed
2004-5 31 May 04 Ivanhoe Creek; Equity investment in Kent Exploration
2004-4 20 Apr 04 Private placement update
2004-3 16 Feb 04 1,800,000 unit private placement
2004-2 12 Feb 04 Ivanhoe Creek property optioned
2004-1 8 Jan 04 Acquired Dome & Wild Horse properties, NV