Columbia Yukon commences its 1998 exploration program with three areas of focus: exploration for diamonds in Alberta, acquisition of 100% interest in an Alaska gold property and nickel exploration in Labrador. Columbia Yukon has evolved into a multidimensional exploration company involved in both "grass root" and development projects in North America.
The Company has acquired mineral interests in over 1,000,000 acres of highly prospective property in the Alberta Diamond Play. The Mustang Property, 36 miles SW. of the Ashton Diamond Discovery, has had 24 drill targets resolved by EM airborne survey. Drilling will commence in March of 1998 with Columbia Yukon being the operator and MPH Consulting Ltd. acting as project manager. A 50% interest can be earned by payment of property and work commitment expenditures over the next two years. In addition the Company has acquired a 50% interest in 700,000 acres 35 miles SE. of Edmonton. It is the intention to complete a EM airborne survey and drill target resolution in 1998.
Columbia Yukon is completing a 100% acquisition of Liberty Bell gold property in Alaska, 60 miles south of Fairbanks. Previous drill results indicate 250,000 ounces of gold with good potential to prove up a million plus ounces. The Company will continue exploration of five mineralized regions in the claim block in 1998.
Columbia Yukon intends to initiate a $1,400,000 deep drilling project on ML 1506 in Labrador. Drill results from 1996 exploration season revealed .8% nickel and .12% cobalt over a 33 foot intersection during a seven hole program with total depths not exceeding 175 meters. A 2500 meter program has been budgeted. The Company has 100% interest in ML1506.