UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) July 29, 2002
Commission File Number 001-10304
RIPPED CANADA ARTISTS INC.
-------------------------
ONTARIO
56 TEMPERANCE STREET
6TH FLOOR
TORONTO, ONTARIO M5H 3V5
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 416.363.2114
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
Pro Forma Financial Statements.
Exhibits. The following exhibits are included as part of this report:
Exhibit
Number Title of Document Location
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99.1 Press Release Attached
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: July 29, 2002 Signed: /s/ Drew Currah
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Title: President
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EXHIBIT 99.1
RIPPED CANADA ARTISTS INC.
56 Temperance Street
6th Floor
Toronto, Ontario
M5H 3V5
PRESS RELEASE
FOR IMMEDIATE RELEASE - July 29, 2002
RIPPED CANADA ANNOUNCES
TECHNICAL INFORMATION ON NORTHVILLE PROPERTIES
Toronto: Ripped Canada Artists Inc. (the "Corporation") announces that, in
connection with the proposed acquisition by the Corporation of 1535698 Ontario
Inc. ("1535698") and the immediately preceding acquisition of Northville Gold
Co. ("Northville") by 1535698, a geological report has been received concerning
the properties owned or controlled by Northville.
Except as otherwise noted, the following technical information regarding the
principal gold prospects on the Northville Properties (as herein defined) is
primarily based on the report dated June 8, 2002 entitled "Qualifying Report on
the Chester Township Property for Northville Gold Corporation" (the "Report")
prepared by Dr. Derek McBride, P.Eng, FGAC, a qualified person under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian
Securities Administrators ("NI 43-101"). The Report was written to review the
history and exploration of the Northville Properties and recalculate their
reported gold resources in compliance with NI 43-101 and the SEC regulations in
the United States. The Report was written in compliance with NI 43-101. The
author of the Report has verified that the data disclosed below meets the
criteria of 43-101. Please see the Report at www.sedar.com for more detailed
technical information on the Northville Properties.
Northville owns or controls interests in fourteen gold properties in the Chester
Township, Ontario, being the Murgold-Chesbar No. 3 Zone, the Jack Rabbit Nos. 1
and 3 Zones and the Young-Shannon C Prime Zone (collectively, the "Northville
Properties" or the "Gogama Gold Camp"). The Northville Properties are located
adjacent to a paved main highway just south of the town of Gogama, Ontario, or
about 200 kilometers north of Sudbury.
The mineral resources set out in the tables below are not mineral reserves do
not have demonstrated economic viability.
Effective as of June 8, 2002, the measured and indicated gold resources of the
Northville Properties in the table below have been re-calculated and presented
in accordance with NI 43-101 as follows:
------------------- ----------- ------- ------------ ------------------
Deposit Tons Grade Ounces Classification
------------------- ----------- ------- ------------ ------------------
Murgold-Chesbar 159,000 .43 68,400 Measured Resource
------------------- ----------- ------- ------------ ------------------
Young-Shannon 222,000 .354 77,900 Indicated
Resource
------------------- ----------- ------- ------------ ------------------
Jack Rabbit 342,000 .36 123,000 Indicated
Resource*
------------------- ----------- ------- ------------ ------------------
Total 723,000 .37 269,300
------------------- ----------- ------- ------------ ------------------
Effective as of June 8, 2002, the inferred gold resources of the Northville
Properties in the table below have been re-calculated and presented in
accordance with NI 43-101 as follows:
------------------ ----------- -------- ------------ ------------------
Deposit Tons Grade Ounces Classification
------------------ ----------- -------- ------------ ------------------
Murgold-Chesbar 240,000 .19 41,800 Inferred Resource
------------------ ----------- -------- ------------ ------------------
Young-Shannon 725,000 .16 116,000 Inferred Resource
------------------ ----------- -------- ------------ ------------------
Jack Rabbit 100,000 .36 36,000 Inferred Resource
------------------ ----------- -------- ------------ ------------------
Total 1,045,000 .19 193,800
------------------ ----------- -------- ------------ ------------------
*Calculated mining grade is 363,000 tons grading .29 ounces per ton using .10
ounce per ton cut off. It includes a recovery of 85% of the contained gold and a
25% dilution during mining.
The measured and indicated resources lie above the 600 foot (180m) level in each
prospect. The estimated inferred potential beyond the zones and below the 600
foot (180m) level is up to a million ton with a contained gold content of just
under 200,000 ounces.
Northville believes that the required steps to bring the Gogama Gold Camp into
production are outlined in two phases. Northville believes that Phase 1 can be
completed in an estimated time frame of six months. As detailed in the Report,
Phase 1 has an estimated budget of Cdn. $2.5 million and involves
computerization and verification of all existing data, surface drilling to fill
in gaps for mine planning, preparation of a resource estimate based on currently
accepted standards, using all data to design the mine and establish a budget,
permitting of the mine and mill facilities, dewatering of the ramp in
preparation for mine development and commencing mining operations from the 600
foot level of the ramp. Northville believes that Phase 2, which it has estimated
a budget of Cdn. $14 million and a time frame of 12 to 28 months, involves
drilling, metallurgical tests, installation of surface facilities for
underground development and mining, mine development for a bulk sample,
temporary mill rehabilitation, mill permitting, mine development and mill
acquisition and construction.
The Corporation also wishes to announce that it has mailed to shareholders a
management information circular in connection with its annual and special
meeting of shareholders to be held on August 26, 2002.
Investors are cautioned that any information released or received with respect
to this transaction may not be accurate or complete and should not be relied
upon. Trading in the securities of the Corporation should be considered highly
speculative. No securities regulatory authority has passed on the merits of the
proposed transaction or have approved or disapproved the contents of this press
release.
RIPPED CANADA ARTISTS INC. common shares are traded on the "pink sheets" under
the symbol RIPCF. This service is available at www.pinksheets.com. Its shares
are also reported on the Canadian Unlisted Board (CUB) under the symbol (FGRL).
For further information contact:
Drew Currah, President
Telephone: (416) 363-2114