San Gold drilling Cougar's Manitoba claims

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San Gold drilling Cougar's Manitoba claims

posted on Feb 09, 2012 10:08AM

San Gold drilling Cougar's Manitoba claims

Cougar Minerals Corp (C:COU)
Shares Issued 74,299,033
Last Close 2/3/2012 $0.025
Wednesday February 08 2012 - News Release

Also San Gold Corp (C:SGR) News Release

Mr. Mike Elson reports

COUGAR MINERALS CORP. ANNOUNCES INITIATION OF SAN GOLD DRILLING PROGRAM

Cougar Minerals Corp. have been notified by San Gold Corp. of the initiation of a diamond drill program on Cougar's mineral claims located to the east and south of San Gold's SG No.1 deposit near Bissett, Man. San Gold has the option of earning an 80-per-cent interest in Cougar's claims by spending a total of $1.5-million on exploration, and by subscribing to the company's private placements to purchase a total of 800,000 common shares in the capital stock of the company over a four-year period (see news release dated June 14, 2011). In December, 2011, San Gold drilled three holes on Cougar's Gloria claim, totalling 3,266 feet. These three holes have been logged and sampled by San Gold geologists and core samples have been sent for assay to TSL Laboratories in Saskatoon, Sask. Results are pending. San Gold is currently drilling on Cougar's Chicala 1 claim, where one hole has been drilled to a depth of 1,740 feet and a second hole is being drilled. Core samples will be sent to TSL Labs in Saskatoon for gold analysis.