 Large property acquired adjacent to Harmony's Bissett Gold Mine, ManitobaDecember 4, 2003 - Marum (“MMU” -TSXV) has significantly expanded its land position in southern Manitoba's Rice Lake gold district by the acquisition of an option to earn a 100% interest in the large Strike Point property located adjacent to Harmony Gold's Bissett (San Antonio) mine. The Bissett mine and mill have produced 1.38 million ounces of gold and are located at the town of Bissett in southern Manitoba.
The Strike Point property is several times larger that the Bissett mine property and contains favourable gold bearing lithologies and structures as well as mapped surface showings that will be prepared for winter drilling. The geology of the Strike Point property presents two very attractive gold target types. It contains large volumes of the San Antonio formation and related units, the host for the Bissett mine orebody. Along the major east-west axis of the Strike Point property, the San Antonio formation is cut by a major shear zone that places it in contact with brittle felsic pyroclastic rocks over a strike length of 6 Kms. The shear zone itself and the adjacent rocks provide a huge prospective gold target zone. The second gold target type consists of vein-flooded tension gashes that exist due to the shattering of brittle felsic pyroclastic rocks during folding. In several places along the major east-west shear zone, both target types coincide. One such coincident zone contains a 500 foot deep shaft with limited 1934 production that was reported as being “high grade”.
The Rice Lake greenstone belt is the most significant lode-gold district in Manitoba, with hundreds of documented occurrences and historic production of approximately 1.73 million ounces from several past-producing mines. The Rice Lake belt forms part of the Archean Uchi Subprovince and is currently regarded by some explorers as being similar in rock type and structure to the Red Lake gold camp in Ontario, approximately 80 Kms to the east. It is not well explored.
The Strike Point property consists of twenty claim groups covering 2,223 hectares adjacent adjacent to the Bissett mine property. Marum can earn a 100% interest in the property by paying $20,000 before December 31, 2003 and by performing $750,000 in exploration work over three years ($100,000, $250,000 and $400,000). The geologist-prospector will retain a 3% gross overriding royalty on precious metals and a 3% net smelter returns on base metal production. Marum has the right to purchase two royalty percentage points by paying $750,000 for each royalty percentage point.
Subject to regulatory acceptance, the Company will proceed with a non-brokered private placement in the amount of up to 1,500,000 units of the company at a price of $0.10 per unit, for gross proceeds of up to $150,000. Each unit consists of one common share and one non-transferable share purchase warrant. One warrant and $0.10 will entitle the placee to acquire one additional common share of the company for a period of two years. Up to 100% of the units may be designated as flow-through units.The proceeds from the private placement will be used to explore the company's mineral properties.
Lollypop kimberlite diamond analysis results
November 20, 2003 - Marum and Resource Finance & Investment Limited (RFIVF.OB) report that they have received caustic dissolution results for drill core samples (over 800 Kgs) submitted to Saskatchewan Research Council (SRC) and CF Minerals Laboratories. The core rock samples were dissolved and screened to recover diamonds on a 500 micron screen, that is, diamonds greater than 0.5 mm along two dimensional axes.
None of the samples contained diamond. One sample was processed to recover diamond greater than 106 microns (0.106 mm) and is also barren.
The purpose of the core analysis program was to conclusively test the northwest part Lollypop kimberlite intrusion as a diamond host rock in the shortest possible time at the lowest possible cost.
The Joint Venture partners will consider alternative exploration options in western Kentucky over the winter months when exploration conditions are optimal. These options will include the exploration of different compositional phases of the Lollypop kimberlite itself, the diamond potential of recently discovered kimberlitic intrusions over 20 Kms away from the Lollypop intrusion. As well, the area contains both zinc and fluorite exploration potential that will be investigated as part of the ongoing diamond exploration program.
Manitoba Gold Property OptionedNovember 19, 2003 -. Marum has entered into an option agreement whereby Marum can earn a 100% interest in the Beresford Lake claim group, located in the Rice Lake Gold Belt of south-eastern Manitoba. The area is accessible by road from the town of Bissett and it is anticipated that a truck mounted drill rig will begin operating in January 2004. The first target zone, the “Rex System”, is characterized by surface showings of brittle, fractured mafic volcanic rocks that have been flooded with quartz and carbonate vein stockworks. Surface samples have returned gold values up to 12 g/t (0.35 oz/ton).
The Rice Lake greenstone belt is the most significant lode-gold district in Manitoba, with hundreds of documented occurrences and historic production of approximately 1.73 million ounces from several past-producing mines, including 1.42 million ounces from the San Antonio mine at Bissett. The Rice Lake belt forms part of the Archean Uchi Subprovince and is currently regarded by some explorers as being similar in rock type and structure to the Red Lake gold camp in Ontario, approximately 80 Kms to the east. The pace of exploration activity in the Rice Lake gold camp is accelerating with both junior and large companies conducting exploration. Placer Dome has recently optioned mining claims nearby and to the west of the Beresford Lake property.
The Manitoba Geological Survey has recently reported on field work in the area (Report of Activities 2003, GS-24) and has highlighted the area covered by the Beresford Lake property as containing favourable rock lithologies and vein systems that are ….. “closely analogous to those hosting spectacular high-grade gold mineralization in the Red Lake mine in Ontario. The presence of this style of mineralization, which has not been documented previously, further underscores the tremendous exploration potential of the Rice Lake belt.” Additionally, the recent Geological Survey report on the Beresford Lake property includes the observation that …. “the veins and the regional iron-carbonate alteration zones that host them, are substantially similar to those that host high-grade gold mineralization in the Red Lake gold camp of Ontario.”
Marum has been conducting gold reconnaissance exploration programs for several years. A number of properties have been selected for acquisition by option and by staking.
The Beresford Lake property consists of three claims groups covering 768 hectares. Marum can earn a 100% interest in the property by paying $20,000 before December 31, 2003 and by performing $750,000 in exploration work over three years ($100,000, $250,000 and $400,000). The optionor will retain a 3% gross overriding royalty on precious metals and a 3% net smelter returns on base metal production. Marum has the right to purchase two royalty percentage points by paying $750,000 for each royalty percentage point.
Stock Options Granted
September 18, 2003 - The Company has granted stock purchase options to directors and consultants in the following amounts:
Richard A. Boulay, Director, 2,200,000 exercisable at $0.10 per share until September 17, 2008.
Arness Cordick, Director, 2,000,000 exercisable at $0.10 per share until September 17, 2008.
Jeffrey G. Robinson, Director, 230,000 exercisable at $0.10 per share until September 17, 2008
Kevin Yorio, Investor Relations Consultant, 100,000 at $0.10 per share until December 31, 2005
Robert Young, Investor Relations Consultant, 50,000 at $0.10 per share until December 31, 2005
All stock options are subject to the provisions of the Company's stock option plan that was accepted for filing by the TSX Venture Exchange on August 20, 2003, and the provisions of TSX Policy 4.4 governing Incentive Stock Options.
Lollypop kimberlite core submitted for caustic dissolution
August 26, 2003 - Marum and Resource Finance & Investment Limited (RFIVF.OB) report that their Joint Venture summer exploration program on the Lollypop kimberlite intrusive complex has been completed. The program consisted of reconnaissance exploration, drill core logging and sampling. Core samples of kimberlite and kimberlitic breccia have been submitted to laboratories for diamond content analysis.
The Joint Venture purchased drill core from a 446 foot (172m) vertical hole that was originally drilled into the Lollypop intrusive in conjunction with a zinc exploration program. Upon inspection, 83% (370 ft, 115m) of the core was determined to be kimberlite and kimberlitic rock. The drill core from this hole has not yet been sampled for diamond analysis. Drill core from Hole DLP2, a 2,214 foot (686m) vertical hole has been logged, sampled and photographed. Approximately 51% of the drill core (1,142 feet, 354m) was identified as kimberlite. The thickest kimberlite intersection was 535 feet (166m) thick, between down-hole depths of 350-885 feet (108-274m). Non-kimberlitic intersections consist of flat-lying Mississipian-age limestones with minor shale intervals. Hole DLP3 is a 1,158 foot (359m) hole that was collared outside the Lollypop intrusive in order to drill into the intrusive at an angle of 45 degrees below horizontal. Approximately 30% of the DLP3 core is kimberlite with the thickest section being 234 feet (73m), between 233-467 feet (72-145m) down-hole.
Several textural and compositional varieties of kimberlite were observed in core from the three drill holes. Autolithic kimberlite breccias containing angular fragments of limestone and argillite occur near the walls of the intrusive. Macrocrystic kimberlite with perfectly preserved olivine macrocrysts and megacrysts of deep mantle material occur in thick intersections. All of the sampled drill holes intersect kimberlite at shallow depth since the Lollypop kimberlite outcrops near the hole collars and forms a thick residual soil.
The geometry of the large kimberlite intrusion on the Lollypop property has not yet been defined. The area containing holes DLP2 and DLP3, drilled 500 metres apart, together with another known hole drilled completely in limestone suggests that the area containing the drill holes is at the edge of the intrusion. This view is supported by the thick alternating layers of kimberlite and limestone in the drill core. Notwithstanding the thick, near surface intersections of kimberlite and the lack of significant wall-rock contamination in the kimberlites, the Joint Venture assumes that the main feeder structure remains to be located with future exploration.
Kimberlite intersections from holes DLP2 and DLP3 were sampled, bagged and placed in plastic pails. The pails were then secured with numbered security seals. A total of 882 Kgs have been shipped to two laboratories for diamond content analysis. The samples will be analyzed by caustic dissolution and by mechanical degradation followed by a caustic dissolution finish. Results are expected to be available in September.
Marum JV with RFI for Kentucky Diamond ExplorationAugust 18, 2003 - Marum and Resource Finance & Investment Limited (“RFI”) (RFIVF.OB) have agreed to form a joint venture that will explore for diamonds within the boundaries of the Shawnee Project in western Kentucky.
Marum and RFI previously announced (May 27, 2003) that RFI would grant to Marum an option to purchase 1,000,000 shares of RFI at a price of US$0.19 until February 19th, 2004. The option is a payment to Marum for services rendered to RFI for managing the exploration of RFI's Shawnee project that contains the Lollypop kimberlite intrusive complex. The assets of RFI's Shawnee project, consisting of technical data, drill core and mineral leases obtained from private owners will be transferred to a special purpose Joint Venture Company. The agreement between Marum and RFI provides that Marum will have the right to earn a 50% interest in the Joint Venture Company by spending US$1,600,000 over a four year period at a rate of US$400,000 per year, with annual vesting of the equity interest that is earned by Marum.
The first part of the 2003 summer exploration and core logging program has been completed. Additional work, consisting of reconnaissance exploration for undiscovered kimberlite pipes will commence in September.
Exploration to continue on B20 property, Quebec
June 23, 2003 - Marum Resources (“MMU” TSXV) reports that it has received notice from Ressources Appalaches Inc. (“APP” TSXV) that as at June 30 2003, Marum shall be in compliance with its joint venture obligations regarding the B20 property near Port-Cartier, Quebec. Consequently, both Marum and Appalaches will proceed to explore the B20 property throughout 2003.
Drilling has so far outlined a very large and persistent, low-grade nickel-copper system from surface to a vertical depth of at least 150 metres and covering an area measuring 500 by 500 metres. The objective of the 2003 program is to conduct additional geophysical surveys that will lead to a drill program later this year. The objective of the drill program shall be to define large tonnages of mineralization with higher grades of nickel, copper and possibly platinum-group mineralization.
Marum Receives Stock Option for Kentucky Diamond Exploration Activities
May 27, 2003 - Marum Resources Inc. discloses that it has been granted an option to purchase shares of Resource Finance & Investment Limited (RFIVF.OB). The option allows Marum to purchase one million shares of Resource Finance & Investment (“RFI”) at a price of US$0.19 per share until the close of business on February 19th, 2004. The share purchase option is a fee to Marum. Marum has agreed to advise the Board of Directors of RFI on the exploration of RFI's Lollypop diamond property in western Kentucky and southern Illinois. RFI has today issued a Press Release describing the Shawnee Diamond Project. RFI trades over-the-counter in the United States (Symbol “RFIVF.OB”), has approximately 24 million shares outstanding and recently traded at US$0.15.
Marum routinely conducts diamond reconnaissance exploration programs throughout Canada and the United States. One of its programs includes the seismically active mid-continent part of the United States, notably the region of great crustal tearing that lies at the intersection of the Mississippi Embayment, the Illinois Basin, the Reelfoot Rift, the Rough Creek Graben, the Fluorspar Fault Swarm and the Wabash Valley Fault System. Marum and RFI have been sharing technical information since late-2001 and now have sufficient information and confidence to accelerate their diamond exploration efforts in the region. This campaign will consist of specific kimberlite testing on a portion of RFI's Shawnee project area and independent regional exploration by both Marum and RFI. Marum and RFI are in the process of outlining a joint exploration agreement to guide their activities within the Shawnee project area, and regionally. The company and Marum Resources Inc. are currently sharing technical data. RFI has contributed data from the Lollypop property. Marum is contributing regional data for off-property exploration.
RFI's re-activation of the Shawnee project will focus on the evaluation of the diamond potential of the Lollypop kimberlite intrusion located in Crittenden County, western Kentucky. This complex, multiple-phase intrusion is poorly explored both as to its internal structure and its diamond potential. The Lollypop-shaped kimberlitic complex is large, measuring 3.4Kms by 1.6Kms (1 mile by 2 miles) and having a surface area of approximately 5,000 hectares (12,000 acres). Lollypop rock samples have been examined petrographically and chemically. The Lollypop intrusion is considered to be a prospective diamond host rock candidate.
Exploration of the Lollypop intrusive complex is scheduled to start immediately. The program will include the caustic dissolution of up to three tonnes of drill core consisting of kimberlitic breccias, autolithic kimberlite breccias, porphyritic kimberlite and carbonatized kimberlitic altered rocks. The program will also include stream sampling, surface sampling and may include a large surface sample of the thick, soft, yellow, saprolitic kimberlite soil that overlies unweathered kimberlitic rocks.
Marum has no interest in RFI's Lollypop property leases, except indirectly as a potential RFI shareholder, should Marum elect to exercise its RFI share purchase options before their expiry date. Marum shall not incur any costs associated with the exploration of the Lollypop kimberlitic complex.
Marum is currently conducting reconnaissance exploration in the area, including detailed field work in another area of western Kentucky.
Positive EM Results on Elektra Diamond Project, Alberta
May 26, 2003 - Joint venture partners Marum Resources Inc. (TSXV - “MMU”)(37.5%), Shear Minerals Ltd. (TSXV - “SRM”)(37.5%) and New Claymore Resources Inc. (TSXV- “NCS”)(25%) have received airborne EM “continuity depth imaging” results for the western half of the Elektra property in the northern part of the Buffalo Head Hills in north-central Alberta.
The raw airborne electromagnetic data that was contributed to the joint venture by New Claymore Resources has been processed with new inversion techniques. These techniques map the horizontal sedimentary rocks in detail and locate any vertical structures or bodies that penetrate them.
The data is being processed by Encom Technology Pty Ltd. of Sydney, Australia under the direction of Christopher Campbell of Intrepid Geophysics Ltd., Vancouver. The western half of the Elektra property contains six distinct EM anomalies that are represented by sharp vertical breaks in the flat-lying sedimentary rocks. Two of the EM anomalies are particularly interesting and have been selected for immediate investigation. Field operations, consisting of surface prospecting and sampling, will commence as soon as the results for the eastern portion of the Elektra property are received.
The Elektra property consists of 32 Alberta Metallic and Industrial Mineral permits covering 32 townships, 294,000 hectares or 730,000 acres. The property lies at the north end of the Buffalo Head Hills, approximately 50 Kms north of the north boundary of the Ashton Mining of Canada (TSX - “ACA”) joint venture property that contains 38 kimberlite pipes.
The results of the Elektra EM data inversion processing may be significant since three of the largest diamondiferous kimberlite pipes discovered by Ashton Mining in the Buffalo Head Hills are reported to have distinct EM signatures.
Significant Expansion of Diamond Exploration Properties in Alberta
March 27, 2003 - Marum Resources (“MMU” TSXV) reports that it has filed application for 32 Metallic and Industrial Minerals Permits in northern Alberta. These additional permits dramatically expand the company's land position in the Caribou Mountains, an area characterized by uplands, thin overburden and the positive geological environment of the northern part of the Buffalo Head Craton. Marum's Caribou Mountains project now comprises a 100% interest in 62 townships (570,000 hectares or 1,285,000 acres). The acquisition of the additional property was made following evaluation of the results of reconnaissance work undertaken during 2002.
Marum now holds a large strategic land position in northern Alberta, an important emerging kimberlite region. Marum's current northern Alberta diamond exploration property position consists of a 100% interest in 83 townships (765,000 hectares, or 1,720,000 acres) plus shared interest in 53 townships (488,448 hectares, or 1,100,000 acres). Overall, Marum's northern Alberta diamond exploration properties cover approximately 2,820,000 acres, or 1,200 square kilometres.
The 2003 Alberta diamond exploration program will begin in April.
Drilling Commences on B20 property, Quebec
January 22, 2003 - Marum Resources (“MMU” TSXV) and Ressources Appalaches (“APP” TSXV) announce the commencement of a 1,200 metre drill program on the B20 property near Port-Cartier, Quebec. The drill holes are located and oriented to intercept massive nickel-copper-platinum zones outlined by the recently completed Lamontagne down-hole E-M survey. The specific area being drilled is on the main B-20 property grid, approximately 18Kms from the town and deep-water port of Port-Cartier, Quebec.
Previous drill programs have outlined several large volumes of nickel, copper and cobalt mineralization down to a vertical depth of 150 metres. Preliminary results are encouraging and indicate a large and persistent, low-grade mineralized system represented, for example, by a 69 metre intercept of 0.30% Ni-equivalent (Press Release, August 5, 2002). These extensive low-grade sulphide zones contain relatively large inferred volumes of slightly higher grade material represented, in one hole, by 67 metres averaging 0.57% nickel and 0.47% copper, or 0.69% Ni equivalent (Press Release, September 27, 2003). Still higher grade zones are contained within the mineralized mass and are represented, for example, by a 10.5 metre interval averaging 0.75% nickel and 0.57% copper, or 1.08% Ni equivalent. (Press Release, September 27, 2002). Only a small portion of the large 6Km long grid system has been drilled.
The objectives of the current drill program are to increase grades and volumes of known nickel-copper mineralization between the surface and a depth of 150 metres; intercept new, deeper targets outlined by recent geophysical work; and extend known mineralized zones below the 150 metre depth level.
The B20 project contains a large unexplored nickel, copper, cobalt and platinum sulphide system. Mineralization occurs both at surface and at depth. It is located in an area that contains instantly-available, under-utilized industrial, town-site and deep-water port infrastructure. The strategic objective of the B20 exploration plan is to identify and measure a large, medium- to high-grade nickel-copper concentration in a location that has an unusually low infrastructure and development cost threshold. Nickel markets are strong and will likely remain so due to long term fundamental factors. The geological and infrastructure potential of the B20 project combine to create an exciting project where the exploration costs are disproportionately low and the potential rewards are very high.
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