New York, NY -- (ReleaseWire) -- 04/22/2013 --Octagon 88 Resources, Inc. (OTC:OCTX) announced that it has engaged CEC North Star Energy Ltd of Calgary, Alberta to license and operate a summer drilling program for the first of two drill targets on leases owned in the Red Earth area of north central Alberta Canada.
These Keg River drill targets are in an area which historically has been known to have initial production ranging from 150 to 450 barrels a day of light crude with the extra benefit of low operating costs, long production curves and high net backs resulting in quick payouts.
Octagon 88 owns 100% working interest in the Red Earth leases, Octagon has now engaged CEC North Star to be the operator, this being a direct result from recent success of the coring program completed in Q1, 2013.
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Goff Corporation's (OTC:GOFF) wholly owned subsidiary Golden Glory Resources S.A. reports the Company is evaluating plans to establish gold production on its Gavia Gold Project in Marmato Mining District, Colombia during 2013 using a small-scale production mill in order to target high grade gold.
In evaluating the leases, which are located in the highly prospective Caldas gold region, the Company's geological and in country teams are suggesting that it may be viable to establish a small scale gold mining and production mill operation for a relatively small budget, but with significant potential payback.
Goff Corporation is a U.S.-based public company. Its wholly owned subsidiary, Golden Glory Resources S.A. is engaged in gold exploration.
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