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 Tue Jun 17, 1997
Excerpt from KBFR May-June 1997
    Publisher: Kaiser Research Online
    Author: Copyright 1997 John A Kaiser

 Excerpt from KBFR May-June 1997

June 17, 1997

Ascot: Drilling Corriente's Laurani project

Ascot Resources Ltd (AOT-V: $0.42) is funding a US $750,000 drill program on the Laurani Project in Bolivia optioned 50% from Corriente for US $3 million. Laurani is an untested potential copper-silver-gold porphyry system whose related vein system has been mined for centuries. The 15 hole drill program that was supposed to begin early June is designed to test the geological model, not mineralized targets. A Canaccord brokered private placement of 2 million units at $0.56 looks like it won't happen unless some good results arrive quickly. Ascot's future hinges on the results because there won't be much money left if it meets its first stage commitment. The paradox of this play is why cash-rich Corriente has farmed this play out to a relatively weak junior like Ascot. Corriente is the operator, so it wasn't for the sake of technical expertise as we saw with Canalaska and Falconbridge. For Ascot's sake one can only hope that Corriente made a mistake. Should Laurani start to connect, Ascot will move much faster than Corriente, which may soon need a new flagship story.

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