Owner
Post by Franko10 ™ on Sept 27, 2004 21:00:17 GMT -5
Skeena Resources Ltd (SKE.V)
WEIRDALE KIMBERLITE CLUSTER, FORT A LA CORNE DISTRICT, SASKATCHEWAN
This road accessible property was recently optioned from Shore Gold Inc. with the right to earn a 70% equity interest and conditional rights to purchase a further 20% interest. Two kimberlites, No. 501 and No. 502, (and a third geophysical anomaly that has been interpreted as a kimberlitic body) were discovered by the original Uranerz/Cameco/Kensington/DeBeers Joint Venture in 1989. As with the Shore Gold "Star Kimberlite" and the Kensington/DeBeers "Kimberlites No. 141 and No. 122", the Weirdale Pipes were originally sampled with only a single reverse circulation drill test each without any initial encouragement. Both the Star Kimberlite and Kimberlites No. 141 and 122 required large volume mini-bulk samples (acquired during the 2000 program) to provide the first evidence of very exciting stone counts after 13 years of investigating these targets. Kensington/DeBeers have recently completed a $5 million drilling program, with results to be announced in early 2002, and Shore Gold are planning a $3-5 million underground bulk sample.
Early on in the Uranerz program, significant magnetic anomalies in the Weirdale area were numbered in the 500 series to distinguish them as a separate cluster. Both No. 501 and No. 502 are drill-proven kimberlites while 504, 505 and 506 remain anomalies with varying degrees of confidence for the presence of kimberlite. Anomaly 504 is considered to be a small kimberlite body or preserved kimberlite depositional centre. Anomaly 503 was drilled, but no kimberlite was intersected. The source of the anomaly was not directly found and the target was speculated to be local magnetite enrichment within overburden.
The Weirdale Kimberlites were intersected beneath approximately 120 metres of glacial overburden and 10 to 37.5 metres of mudstone and silty sandstone within the Lower Colorado Group (95 – 100 mya). Drill hole 501-01 exited kimberlite at a depth of 202.5 metres into interbedded mudstones and sandstones within the uppermost portion of the Manville Group, while neither drill hole into 502 exited kimberlite.
In July, a preliminary round of drilling on the Weirdale Property was successful in intersecting two thick sections of kimberlite.
On target 502, a vertical NQ core hole (DDH number 502-03) obtained a kimberlite intercept of 121.5 metres beneath 118.9 m of overburden. The bottom of the hole passed through the kimberlite and into Manville Group siltstones and sandstones. The Kimberlite is entirely crater facies and is divisible into five units based on petrographic character and the presence of thin intervening layers of siltstone and mudstone. Of the 121.5 m of kimberlite, a total of 30.6 m are considered "moderately prospective" for diamonds based on its macrocrystic characteristics and grain size.
On target 501 (1 kilometre to the southeast), a vertical NQ core hole (DDH number 502-02) obtained a kimberlite intercept of 115.8 metres beneath 109.7 metres of overburden and 33.8 m of Colorado Group mudstones. The bottom of the hole again exited the kimberlite into Manville Group strata. The kimberlite is entirely crater facies with a distinctive prevalence of olivine-rich, xenolithic, pyroclastic kimberlite. Of the 115.8 m of kimberlite, a total of 56.7 metres are considered "moderately to highly prospective" for diamonds based on its macrocrystic character and grain size.
Management is encouraged by the results to date. Prior to undertaking the next round of drilling, Skeena intends to conduct a detailed microgravity survey of kimberlite pipes No. 501, No. 502, and the nearby magnetic anomaly 504, an interpreted kimberlite as yet untested by drilling. We anticipate field work to commence early in 2002. A second round of core drilling will commence shortly thereafter.
_________________________________________
Split drill core from the Weirdale Kimberlite Property and the Ice Property will be submitted for microdiamond analysis by caustic dissolution. The mini-bulk sample from the BONUS Pipe on the Ice Property will be analyzed for its diamond content in a dense media separation (DMS) plant. Final results are expected before year end.
Discussions are underway with potential investors for a private placement to fund the analytical work from the Company’s two diamond projects and for the acquisition of a third Canadian mineral exploration project.
Acquisition of Seven Diamond Exploration Properties
Jun 05 2002
Skeena Resources Limited ('SKE'on the TSX Venture Exchange) is pleased to announce the acquisition of seven (7) diamond exploration properties in the Fort a la Corne district east of Prince Albert, Saskatchewan.
Skeena has entered into an option agreement with General Resources Inc., a private Saskatoon-based company, to earn up to a 90% equity interest in three (3) separate properties (a total of 100 claims covering approximately 46,706 hectares) located to the northwest of and along trend with the De Beers-Kensington-Cameco Fort a la Corne Joint Venture (FALC-JV) ground. The properties cover a number of northwest and north-trending regional structural features and regional magnetic lows, which appear analagous to those on the FALC-JV lands. The agreement requires a cash payment of $20,000, the issuance of 750,000 common shares of Skeena (250,000 in the first year), and exploration expenditures aggregating $650,000 over three years ($50,000 in the first year). The remaining 10% interest is purchasable by Skeena at any time during the term of the agreement for $2.5 million.
In addition, Skeena has entered into another option agreement with Shore Gold Inc. to earn up to 70% equity interest in four (4) separate properties (a total of 37 claims covering approximately 5,616 hectares) located to the northwest and northeast of the De Beers-Kensington-Cameco FALC-JV ground. The primary exploration target will be the Foxford Property, which encompasses two large kimberlite bodies, discovered by Uranerz Exploration and Mining in 1989. Limited investigations in 1990-1994 on the two closely spaced kimberlites indicate surface areas of 55.3 Ha (kimberlite #179) and 32.4 Ha (kimberlite #180) and a modeled cumulative volume in excess of 185 million tonnes.
Skeena has utilized and relied on a summary and evaluation report on the Foxford property, prepared for Shore Gold Inc., entitled 'Summary and Evaluation of Historical Exploration Results for the Foxford and Birchbark Lake Kimberlite Bodies', dated April, 2002, prepared by Brent C. Jellicoe, P.Geo., an independent
'qualified person'as defined in National Instrument 43-101. A modified version of this report will be filed in support of this option agreement. The agreement requires a cash payment of $18,000, the issuance of 2,250,000 shares (750,000 in the first year), and aggregate exploration expenditures of $900,000 over three years ($300,000 in the first year). Up to two-thirds of the 30% carried interest is purchasable by Skeena under certain conditions for $2 million.
Both agreements are subject to regulatory approval. Skeena will be the operator of both projects and detailed airborne geophysical surveys are proposed for the first phase of investigation.
In other news, Skeena has received the results of the microdiamond analyses performed on drill core from vertical holes drilled in 2001 on each of its two Weirdale kimberlites in the Fort a la Corne district. A total of five microdiamonds are reported and no further work is proposed on either of these bodies at this time. An as yet untested geophysical target within this property to the south of the known Weirdale kimberlites will be further investigated with an airborne geophysical survey.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED
'J. Rupert Allan', President and CEO
CONTACT: TEL: (604) 684-8725 Skeena Resources Limited
FAX: (604) 682-0531
Email: rupertallan@telus.net
INET : www.bmts.bc.ca/ske/
Property-Asset Acquisition
Jun 19 2002
Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation of an Option Agreement dated June 5, 2002 between the Company and Shore Gold Inc. (the 'Optionor', insiders: K. MacNeill, J. Challis, R. Walker, W. Turner and E. Schiller) whereby the Company may acquire up to a 70% equity interest in four (4) separate properties (the Foxford Property and three FALC Land Packages) located in the Fort a la Corne district east of Prince Albert, Saskatchewan.
The agreement requires a cash payment of $18,000, the issuance of 2,250,000 common shares of the Company (an initial 750,000 shares in the first year) and aggregate exploration expenditures of $900,000 over three years ($300,000 in the first year).
WEIRDALE KIMBERLITE CLUSTER, FORT A LA CORNE DISTRICT, SASKATCHEWAN
This road accessible property was recently optioned from Shore Gold Inc. with the right to earn a 70% equity interest and conditional rights to purchase a further 20% interest. Two kimberlites, No. 501 and No. 502, (and a third geophysical anomaly that has been interpreted as a kimberlitic body) were discovered by the original Uranerz/Cameco/Kensington/DeBeers Joint Venture in 1989. As with the Shore Gold "Star Kimberlite" and the Kensington/DeBeers "Kimberlites No. 141 and No. 122", the Weirdale Pipes were originally sampled with only a single reverse circulation drill test each without any initial encouragement. Both the Star Kimberlite and Kimberlites No. 141 and 122 required large volume mini-bulk samples (acquired during the 2000 program) to provide the first evidence of very exciting stone counts after 13 years of investigating these targets. Kensington/DeBeers have recently completed a $5 million drilling program, with results to be announced in early 2002, and Shore Gold are planning a $3-5 million underground bulk sample.
Early on in the Uranerz program, significant magnetic anomalies in the Weirdale area were numbered in the 500 series to distinguish them as a separate cluster. Both No. 501 and No. 502 are drill-proven kimberlites while 504, 505 and 506 remain anomalies with varying degrees of confidence for the presence of kimberlite. Anomaly 504 is considered to be a small kimberlite body or preserved kimberlite depositional centre. Anomaly 503 was drilled, but no kimberlite was intersected. The source of the anomaly was not directly found and the target was speculated to be local magnetite enrichment within overburden.
The Weirdale Kimberlites were intersected beneath approximately 120 metres of glacial overburden and 10 to 37.5 metres of mudstone and silty sandstone within the Lower Colorado Group (95 – 100 mya). Drill hole 501-01 exited kimberlite at a depth of 202.5 metres into interbedded mudstones and sandstones within the uppermost portion of the Manville Group, while neither drill hole into 502 exited kimberlite.
In July, a preliminary round of drilling on the Weirdale Property was successful in intersecting two thick sections of kimberlite.
On target 502, a vertical NQ core hole (DDH number 502-03) obtained a kimberlite intercept of 121.5 metres beneath 118.9 m of overburden. The bottom of the hole passed through the kimberlite and into Manville Group siltstones and sandstones. The Kimberlite is entirely crater facies and is divisible into five units based on petrographic character and the presence of thin intervening layers of siltstone and mudstone. Of the 121.5 m of kimberlite, a total of 30.6 m are considered "moderately prospective" for diamonds based on its macrocrystic characteristics and grain size.
On target 501 (1 kilometre to the southeast), a vertical NQ core hole (DDH number 502-02) obtained a kimberlite intercept of 115.8 metres beneath 109.7 metres of overburden and 33.8 m of Colorado Group mudstones. The bottom of the hole again exited the kimberlite into Manville Group strata. The kimberlite is entirely crater facies with a distinctive prevalence of olivine-rich, xenolithic, pyroclastic kimberlite. Of the 115.8 m of kimberlite, a total of 56.7 metres are considered "moderately to highly prospective" for diamonds based on its macrocrystic character and grain size.
Management is encouraged by the results to date. Prior to undertaking the next round of drilling, Skeena intends to conduct a detailed microgravity survey of kimberlite pipes No. 501, No. 502, and the nearby magnetic anomaly 504, an interpreted kimberlite as yet untested by drilling. We anticipate field work to commence early in 2002. A second round of core drilling will commence shortly thereafter.
_________________________________________
Split drill core from the Weirdale Kimberlite Property and the Ice Property will be submitted for microdiamond analysis by caustic dissolution. The mini-bulk sample from the BONUS Pipe on the Ice Property will be analyzed for its diamond content in a dense media separation (DMS) plant. Final results are expected before year end.
Discussions are underway with potential investors for a private placement to fund the analytical work from the Company’s two diamond projects and for the acquisition of a third Canadian mineral exploration project.
Acquisition of Seven Diamond Exploration Properties
Jun 05 2002
Skeena Resources Limited ('SKE'on the TSX Venture Exchange) is pleased to announce the acquisition of seven (7) diamond exploration properties in the Fort a la Corne district east of Prince Albert, Saskatchewan.
Skeena has entered into an option agreement with General Resources Inc., a private Saskatoon-based company, to earn up to a 90% equity interest in three (3) separate properties (a total of 100 claims covering approximately 46,706 hectares) located to the northwest of and along trend with the De Beers-Kensington-Cameco Fort a la Corne Joint Venture (FALC-JV) ground. The properties cover a number of northwest and north-trending regional structural features and regional magnetic lows, which appear analagous to those on the FALC-JV lands. The agreement requires a cash payment of $20,000, the issuance of 750,000 common shares of Skeena (250,000 in the first year), and exploration expenditures aggregating $650,000 over three years ($50,000 in the first year). The remaining 10% interest is purchasable by Skeena at any time during the term of the agreement for $2.5 million.
In addition, Skeena has entered into another option agreement with Shore Gold Inc. to earn up to 70% equity interest in four (4) separate properties (a total of 37 claims covering approximately 5,616 hectares) located to the northwest and northeast of the De Beers-Kensington-Cameco FALC-JV ground. The primary exploration target will be the Foxford Property, which encompasses two large kimberlite bodies, discovered by Uranerz Exploration and Mining in 1989. Limited investigations in 1990-1994 on the two closely spaced kimberlites indicate surface areas of 55.3 Ha (kimberlite #179) and 32.4 Ha (kimberlite #180) and a modeled cumulative volume in excess of 185 million tonnes.
Skeena has utilized and relied on a summary and evaluation report on the Foxford property, prepared for Shore Gold Inc., entitled 'Summary and Evaluation of Historical Exploration Results for the Foxford and Birchbark Lake Kimberlite Bodies', dated April, 2002, prepared by Brent C. Jellicoe, P.Geo., an independent
'qualified person'as defined in National Instrument 43-101. A modified version of this report will be filed in support of this option agreement. The agreement requires a cash payment of $18,000, the issuance of 2,250,000 shares (750,000 in the first year), and aggregate exploration expenditures of $900,000 over three years ($300,000 in the first year). Up to two-thirds of the 30% carried interest is purchasable by Skeena under certain conditions for $2 million.
Both agreements are subject to regulatory approval. Skeena will be the operator of both projects and detailed airborne geophysical surveys are proposed for the first phase of investigation.
In other news, Skeena has received the results of the microdiamond analyses performed on drill core from vertical holes drilled in 2001 on each of its two Weirdale kimberlites in the Fort a la Corne district. A total of five microdiamonds are reported and no further work is proposed on either of these bodies at this time. An as yet untested geophysical target within this property to the south of the known Weirdale kimberlites will be further investigated with an airborne geophysical survey.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED
'J. Rupert Allan', President and CEO
CONTACT: TEL: (604) 684-8725 Skeena Resources Limited
FAX: (604) 682-0531
Email: rupertallan@telus.net
INET : www.bmts.bc.ca/ske/
Property-Asset Acquisition
Jun 19 2002
Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation of an Option Agreement dated June 5, 2002 between the Company and Shore Gold Inc. (the 'Optionor', insiders: K. MacNeill, J. Challis, R. Walker, W. Turner and E. Schiller) whereby the Company may acquire up to a 70% equity interest in four (4) separate properties (the Foxford Property and three FALC Land Packages) located in the Fort a la Corne district east of Prince Albert, Saskatchewan.
The agreement requires a cash payment of $18,000, the issuance of 2,250,000 common shares of the Company (an initial 750,000 shares in the first year) and aggregate exploration expenditures of $900,000 over three years ($300,000 in the first year).
