This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Duncan Park Announces Completion Of Geophysical Field Work, And Signing Of Definitive Agreement With Respect To McManus Property At Red Lake

TORONTO, ONTARIO -- (Marketwire) -- 03/30/11 -- Duncan Park Holdings Corporation (TSX VENTURE: DPH) (the "Company" or "Duncan Park") announced today that it is pleased to report that field work of the geophysical survey by Abitibi Geophysics on its Red Lake Property has been completed on schedule. Results of the analysis of the geophysical data gathered and recommended targets are expected by the end of April. Following that, the Company is planning a diamond drilling program to test selected targets.

The drilling program of targets on the land-based claims is planned to commence this summer, and drilling of targets on the lake-based claims is planned to commence as soon as ice conditions on the lake permit next winter. Complete details of the property, the exploration agreements, and the exploration program are available on the Duncan Park website at

The Company also announced the signing of the definitive option agreement with Sphere Resources Inc. ("Sphere") and Camp McMan Red Lake Gold Mines Inc. ("Camp McMan") pertaining to the earn-in of the McManus property contemplated by the letter of intent Duncan Park entered into with Sphere earlier this year. (See press release dated January 5, 2011.) The agreement remains subject to, among other things, completion of satisfactory due diligence by Duncan Park, and receipt of all requisite regulatory and other approvals, including stock exchange approvals.

In brief, Sphere has granted Duncan Park its option to acquire a 100% interest in the McManus property by the payment of $210,000 in option payments to Camp McMan, incurring $1,200,000 in exploration expenses over the next four years, and, in certain circumstances, the possible issue of up to 632,400 shares, subject to Sphere's right to claw back a 51% interest by paying Duncan Park four times the amount spent by Duncan Park.

Cautionary Note Regarding Forward-Looking Information

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs