NEW YORK, Dec 20, 2011 (BUSINESS WIRE) — S&P Capital IQ announced today that it has commenced Standard & Poor’s Factual Stock Report coverage on Duncan Park Holdings Corporation.

 

Duncan Park Holding Corporation (ts:TSXV)(otcqx:DCNPF) is a Toronto based minerals exploration company that is exploring for gold and other precious metals in the Red Lake mining district of north-western Ontario, Canada. DPH has entered into separate agreements with Sphere Resources Inc. (Sphere) with respect to two adjoining properties commonly referred to as the Dome and McManus properties. Pursuant to the agreements the company has acquired Sphere’s right to earn a 75% interest in the Dome property and a 100% interest in the McManus property by assuming Sphere’s earn-in obligations, subject to Sphere’s right to claw back a 51% interest in either property by the payment to Duncan Park of four times the amount expended for the property and subject to Net Smelter Royalty obligations (NSRs) to the underlying property owners. Thus, the company has the right to earn into 75% of the Dome property at a cost of approximately $1.0 million subject to Sphere’s right to claw back 51% at a cost to Sphere of approximately $4.0 million, leaving DPH with 24%, and the right to earn a 100% interest in the McManus property at a cost of approximately $1.2 million, subject to Sphere’s right to claw back 51% at a cost to Sphere of $4.8 million leaving the company with 49%.

 

In April, 2010 Caracle Creek International Consulting Inc. (“CCIC”) was engaged to complete a review of the Dome Property, and prepared an Independent Technical Report. Concurrently, a shallow to intermediate depth Induced Polarization study was conducted on the land portion of the Dome property. The CCIC report indicates a large part of the Dome property overlies a quartz diorite intrusion, the Howey diorite, which hosts several past-producing gold mines and gold occurrences. CCIC concluded that the property warranted further exploration and recommended that a 1,500 meter diamond drilling survey be completed to test the two strongest geophysical anomalies. CCIC concluded that the water claims in the northern part of the Property have potential based on the historic exploration. CCIC recommended exploring the northern lake based claims with a Titan 24 induced polarization and magnetotellurics survey.

 

DPH subsequently acquired the earn-in interest on the abutting McManus patented claims and deferred drilling of the above targets pending the results of a more comprehensive geophysical survey. In February, 2011 a walking magnetic survey and an Induced Polarization (IP) study of the combined Red Lake properties was conducted. A number of coincident geophysical and geological targets characterized by high chargeability, magnetic contrast, observed alteration and sulphide mineralization were identified. Based upon these findings and the existing data DPH planned and executed a 15 hole $975,000 drilling program on the combined land based claims. The company is encouraged by the results received because the exploration on the McManus patented mining claims has identified the occurrence of quartz veining, sulphide minerals and anomalous gold values within a structural zone, which, in combination, is indicative of a mineralizing system. A winter drilling program on both properties is currently in the planning stages. In general, subject to the availability of flow-through funding, and when ice conditions on Red Lake permit it is expected to include a comprehensive program on the westerly lake based claims of both properties.

 

Standard & Poor’s Factual Stock Report coverage on Duncan Park Holdings Corporation will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.duncanpark.com for additional information.

 

About Standard & Poor’s Factual Stock Reports

 

Currently profiling over 500 issuers, Standard & Poor’s Factual Stock Reports, produced by S&P Capital IQ, increase market awareness of issuers in the investment community with insightful commentary and key statistics and information. Standard & Poor’s Factual Stock Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information about covered companies to reach a wide investor audience of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is underwritten by the issuer, S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.

 

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of S&P Capital IQ or related organizations. S&P Capital IQ does not trade on its own account.

 

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SOURCE: S&P Capital IQ

 

Duncan Park Holdings Corp

Harold J. Doran, CFO

Tel: 416-524-1313

hjdoran_ca@rogers.com

 

or

 

S&P Capital IQ

Customers

Richard Albanese, 212-438-3647

richard_albanese@standardandpoors.com

 

or

 

Media Relations

Michael Privitera, 212-438-6679

michael_Privitera@standardandpoors.com

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