Rhonda Corporation
COMPANY DATA |
INTRODUCTION | PROPERTIES IN HAND
| MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 810 540 5th Avenue SW Calgary, Alberta Canada T2P 0M2 |
| Tel No.: | (403) 269-5369 |
| Fax No.: | (403) 261-2866 |
| Investor Relations Toll Free No.: | 1-800-793-8370 |
| Web Site: | www.rhondacorp.com |
| Corporate Email: | info@rhondacorp.com |
| Contact Person: | Robert d'Artois |
| Position: | VP Corporate Communications and Investor Relations |
| Traded Market: | TSX Venture Exchange |
| Traded Symbol: | RDM |
| Outstanding Shares: | 35,402,318 |
| Public Float: | 29,000,000 |
| 52 Week High: | $ 0.58 |
| 52 Week Low: | $ 0.27 |
| Present Price: | Click Here |
INTRODUCTION
Rhonda Corporation (formerly Rhonda Mining Corporation) is an Alberta company based in Calgary. Since it's
incorporation on January 1, 1992, Rhonda's primary business has been the exploration of mineral targets in Canada including the exploration for diamonds in Saskatchewan and gold, diamonds and base metals in Nunavut and the North West Territories.
Currently Rhonda Corporation holds over 122,000 acres in mineral leases and claims in Nunavut and the North West Territories. This includes 100% ownership of the Esker lead-zinc prospect in the Inulik property and extensive lease holdings within the Courageous lake gold belt.
In 2000 Rhonda began a joint venture with De Beers Exploration Inc., a wholly owned subsidiary of De Beers Canada Corporation, that gave them the right to investigate a geophysical target on Rhonda's property. The initial three holes intersected a kimberlite pipe, since named the Knife pipe.
As Rhonda's corporate mandate continues to evolve and grow to include other profitable markets, Rhonda's commitment does not - the commitment to continue to provide productive and profitable business opportunities to it's investors, project partners and staff - with the same high degree of operational integrity it has always demonstrated.
PROPERTIES IN HAND
(1) Inulik Property - Diamond Project
Rhonda's Inulik property lies 85 kilometres south of the Coronation Gulf in Nunavut. The Company has over 36,400
hectares (90,000 acres) of ground that has never been tested for the presence of kimberlite. The area is highly prospective considering the discovery of a diamondiferous kimberlite pipe that lies adjacent to Inulik and is being actively sampled by De Beers Canada under an Option Agreement with Rhonda. Other companies currently active in the area and having claim blocks contiguous to Rhonda's include Kennecott Canada, Tahera Corporation and Ashton Mining of Canada.
A re-analysis of airborne geophysics for the Inulik property has revealed a number of potential kimberlite anomalies on the claims. The 2002 summer program of glacial till sampling will be two-pronged: in addition to sampling the property on a reconnaissance basis for indicator mineral trains, the geophysical anomalies will be systematically sampled at closer spacing. Results of the summer program will define targets for this coming winter's drill program.
(2) Knife Property - Diamond Project
In May 2000, De Beers was granted the option by Rhonda Corporation to explore the diamond potential on Rhonda's Knife
Property in Nunavut, 75 km south of the Coronation Gulf. The 2530 acre property is owned 100% by Rhonda Corporation. De Beers can earn a 70% interest by expending $10 Million on the property and carrying Rhonda to production.
Three test holes were drilled by De Beers in May and early June 2000, intersecting a total of 455 m of kimberlite pipe material. The first two holes were drilled from the same setup on the ice, directly over the geophysical anomaly. The third was drilled from a setup 225 meters to the southeast. Ground geophysics was carried out and an additional six holes were drilled during the spring 2001 program intersecting 1124 metres of kimberlite.
(3) Courageous Lake Property - Gold Project
The Courageous Lake gold belt is located approximately 230 kilometres northeast of Yellowknife, Northwest Territories
and approximately 150 kilometres southwest of the Lupin mine site. The winter road from Yellowknife to Lupin trends through the lower part of the Courageous area. Rhonda has six leases covering 25 kilometres of the highly prospective 65 kilometre long belt. This belt is situated along a proven gold horizon (Salmita and Tundra Mines), with drill core assays from 1.38 oz/ton over 3.66 metres to 0.123 oz/ton over 7.93 metres (true widths).
Rhonda has the Jax gold project in the property. These two Jax gold zones are higher grade quartz flooded structures within a wide lower grade structure. Drilling has confirmed the gold zones to a depth of 200 feet; the zones remain open at depth.
MANAGEMENT
Rhonda Corporation directors and officers include:
John M. Alston, B.Sc., P.Geol. - Chairman and Chief Executive Officer
Glen R. Alston, B.Comm. - President and Chief Financial Officer
Bernard Benning, M.Ed., M.B.A., C.M.A. - Director
Jim Lehman, C.M.A. - Director
Thomas W. Whittingham, B.Sc. - Director
Judith A. Stoeterau, B.Sc., P.Geo. - Vice President Exploration
Robert d'Artois - Vice President Corporate Communications and Investor Relations
NEWS UPDATE
On June 26, 2002, Rhonda Corporation announced that they are resuming gold exploration on its wholly owned mineral leases in the Northwest Territories adjoining Seabridge's Tundra project, 150 kilometres north of Yellowknife. Plans include diamond drilling three gold bearing structures previously identified in exploratory holes drilled by Rhonda and former operators including Aber, Bow Valley and Noranda.
On June 18, 2002, Rhonda Corporation and Tres-Or Resources Ltd. announced that final approval has been received from the TSX Venture Exchange of an Agreement executed March 5, 2002 for Rhonda to earn a 50% interest in 1,626 diamond claims units (approximately 26,000 hectares) in the Temagami region of northeastern Ontario. Located in the southern Superior Craton in northeastern Ontario, the Temagami area has been highlighted for its diamond potential by sampling surveys conducted by the Ontario government. Positive kimberlite indicator mineral results returned from stream, beach and till sampling surveys conducted by both Tres-Or and the Ontario government in 2001, and recent results published by other parties active in the area, indicate significant diamond potential in the Temagami area.
On June 5, 2002, Rhonda Corporation announced that gold nuggets have been recovered from the heavy mineral concentrates produced during the processing of glacial till samples collected in 2001 from its 100% owned Inulik property in the Coronation Gulf diamond district of Nunavut.
On May 8, 2002, Rhonda Corporation announced the updated results from the reconnaissance glacial till sampling program conducted on its 100% owned Inulik project in the Coronation Gulf District of Nunavut.
Electron microprobe work of pyrope garnets has revealed one plotting in the G10 field, together with an abundance of elevated sodium/low titanium eclogitic garnets, similar to the eclogitic population from the diamondiferous Knife pipe.
These results indicate the presence of kimberlite on Rhonda ground with a strong potential to be diamondiferous.