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Post by Franko10 ™ on Mar 6, 2006 10:39:15 GMT -5
Forest Gate & Majescor Pull Diamonds from Boulders on Portage Property (cnw)
Drilling Confirms Extension of Remick Kimberlite Dyke
SHARES OUTSTANDING: 72 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, March 6 /CNW/ - Forest Gate Resources Inc. and joint venture partner, Majescor Resources, report recovering five diamonds from a 104.29 kilogram sample taken from boulders on its Portage diamond property located in Quebec's Otish Mountains. The property is contiguous with Ashton Mining's Foxtrot property which hosts the Renard, Lynx and Hibou kimberlite cluster of pipes and dykes.
"This discovery is further confirmation of diamonds and diamond-bearing rock on our property," said Steve Roebuck, Vice President of Exploration. "Last autumn our field crews discovered and sampled an ultramafic rock found at surface and we are pleased to learn it is diamondiferous. This type of discovery gives our exploration program a point of focus."
The ultramafic rock occurs as meter-sized boulders lying at surface that appear to have come from a nearby dyke structure in the southeast quadrant of the property. The boulders form a well-defined dispersion train that is covers a few hundred meters.
Caustic fusion has recovered five diamonds from 104.29 kilograms of rock processed at SGS Mineral Services in Lakefield, Ontario. The results are as follows:
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Size Fraction in mm +0.30mm Sieve +0.150mm Sieve +0.105mm Sieve
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Number of stones 1 1 3
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The largest diamond measured 0.51 x 0.46 x 0.32 mm and weighed 0.116 mg. Although petrography work performed on the UM rock describes it as carbonate- phlogopite-rich with two generations of olivine and abundant mantle xenoliths, the genesis of the rock remains undetermined. The discovery was made 20 kilometres from border with the Ashton/SOQUEM property and shows that diamond-bearing rocks occur over a wide area on the Portage property.
The joint venture partners also confirm that they have extended the known strike length of their Remick kimberlite dyke. The first two drill set-ups have already extended the strike length of the dyke some 450 m to the northwest from the discovery hole.
The 20-hole drill program is designed to delineate the northwest and southeast extension of the Remick kimberlite dyke. In addition to providing an idea of the minimum strike length, the drilling is attempting to determine the size, shape and diamond potential of the kimberlite body.
Prior to diamond drilling, a detailed ground geophysical survey was completed and this data is providing guidance for drill placement. Also, a lake bottom sediment sampling program was also completed in several key areas located near the heads of indicator mineral dispersion trains and unique circular lakes.
The results of 40% of the glacial sediment samples collected during the exploration program undertaken last autumn have also been received. A number of anomalous counts and mineral grains bearing fragile textures have been reported.
The samples were collected to better define 17 dispersion trains located across the property. These samples are currently being processed by Overburden Drilling Management, Ottawa, Ontario.
In other news, the company is launching its new website tonight. You can currently go to www.forestgate.ca to view the accompanying video containing actual field footage of the discovery of the diamondiferous ultramafic rock.
Jacques Letendre, P.Geo and Qualified Person has edited and reviewed the technical information contained in this press release.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and Quebec. The company's shares trade under the symbol FGT on the TSX Venture Exchange.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.
For further information: ROBERT KRAMBERGER, V-P, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, http://WWW.FORESTGATE.CA; TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM
Drilling Confirms Extension of Remick Kimberlite Dyke
SHARES OUTSTANDING: 72 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, March 6 /CNW/ - Forest Gate Resources Inc. and joint venture partner, Majescor Resources, report recovering five diamonds from a 104.29 kilogram sample taken from boulders on its Portage diamond property located in Quebec's Otish Mountains. The property is contiguous with Ashton Mining's Foxtrot property which hosts the Renard, Lynx and Hibou kimberlite cluster of pipes and dykes.
"This discovery is further confirmation of diamonds and diamond-bearing rock on our property," said Steve Roebuck, Vice President of Exploration. "Last autumn our field crews discovered and sampled an ultramafic rock found at surface and we are pleased to learn it is diamondiferous. This type of discovery gives our exploration program a point of focus."
The ultramafic rock occurs as meter-sized boulders lying at surface that appear to have come from a nearby dyke structure in the southeast quadrant of the property. The boulders form a well-defined dispersion train that is covers a few hundred meters.
Caustic fusion has recovered five diamonds from 104.29 kilograms of rock processed at SGS Mineral Services in Lakefield, Ontario. The results are as follows:
<<
-------------------------------------------------------------------------
Size Fraction in mm +0.30mm Sieve +0.150mm Sieve +0.105mm Sieve
-------------------------------------------------------------------------
Number of stones 1 1 3
-------------------------------------------------------------------------
The largest diamond measured 0.51 x 0.46 x 0.32 mm and weighed 0.116 mg. Although petrography work performed on the UM rock describes it as carbonate- phlogopite-rich with two generations of olivine and abundant mantle xenoliths, the genesis of the rock remains undetermined. The discovery was made 20 kilometres from border with the Ashton/SOQUEM property and shows that diamond-bearing rocks occur over a wide area on the Portage property.
The joint venture partners also confirm that they have extended the known strike length of their Remick kimberlite dyke. The first two drill set-ups have already extended the strike length of the dyke some 450 m to the northwest from the discovery hole.
The 20-hole drill program is designed to delineate the northwest and southeast extension of the Remick kimberlite dyke. In addition to providing an idea of the minimum strike length, the drilling is attempting to determine the size, shape and diamond potential of the kimberlite body.
Prior to diamond drilling, a detailed ground geophysical survey was completed and this data is providing guidance for drill placement. Also, a lake bottom sediment sampling program was also completed in several key areas located near the heads of indicator mineral dispersion trains and unique circular lakes.
The results of 40% of the glacial sediment samples collected during the exploration program undertaken last autumn have also been received. A number of anomalous counts and mineral grains bearing fragile textures have been reported.
The samples were collected to better define 17 dispersion trains located across the property. These samples are currently being processed by Overburden Drilling Management, Ottawa, Ontario.
In other news, the company is launching its new website tonight. You can currently go to www.forestgate.ca to view the accompanying video containing actual field footage of the discovery of the diamondiferous ultramafic rock.
Jacques Letendre, P.Geo and Qualified Person has edited and reviewed the technical information contained in this press release.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and Quebec. The company's shares trade under the symbol FGT on the TSX Venture Exchange.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.
For further information: ROBERT KRAMBERGER, V-P, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, http://WWW.FORESTGATE.CA; TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM
