IRC gets share certificate

NNSL (Jan 19/98) - Darnley Bay Resources Ltd. is hoping to zero in on a drill target by the end of next month, according to the Inuvialuit Regional Corporation's newsletter.

Darnley Bay recently presented the corporation with its share certificate dated Nov. 13.

IRC, through subsidiary Inuvialuit Land Corporation, owns 235,296 Darnley Bay shares, or about two per cent. The company's stock closed at $1.05 Thursday.

Ontario-incorporated Darnley Bay looks to define a potential resource located near Paulatuk.

The resource has been compared to operations in Sudbury, Russia and South Africa, IRC said.

Darnley Bay thinks the formation, which could be nickel, gold, cobalt, copper, silver chromium and platinum group metals, was caused by a meteor.

To survey the area, the company will hire 20 people of which 12 would be local.

Garrett Ruben has been appointed community advisor for two years.

Darnley Bay also said all work and findings have been done outside the Tuktut Nogiat National Park.