Post by Franko10 ™ on Sept 11, 2004 14:32:32 GMT -5
News Release
March 6, 2000
Shane Resources update on Saskatchewan diamond projects
The company has acquired approximately 230,000 acres within the Fort a la Corne and Gull Lake districts of Saskatchewan. The Fort a la Corne district contains one of the largest known clusters of diamondiferous kimberlite pipes in the world. The Monopros(Debeers) joint venture has spent in excess of $20-million on exploration and has identified 57 diamondiferous kimberlite pipes. At least one of these pipes contains up to one billion tonnes of material. The Gull Lake district also contains a number of diamondiferous kimberlites. Airborne magnetic surveys have been the primary exploration tool utilized in this area and have been successful in locating kimberlite pipes. Shane has obtained airborne magnetic data over portions of its properties that contain a number of anomalies interpreted to be kimberlites. This information is presently being analyzed. Ground geophysics will be used to prioritize drill targets and drilling will follow.
Importantly, recent information has been disseminated on the Fort a la Corne district indicating that up to 50 per cent of the macrodiamonds may have been missed in the recovery process. These results could completely alter the previous calculations of the economics of the numerous diamond pipes that have already been discovered in the Fort a la Corne district. Shane's property in the Fort a la Corne district adjoins that of Shore Gold, which is presently testing its kimberlites.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Mr. Mike Magrum
Director
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
March 6, 2000
Shane Resources update on Saskatchewan diamond projects
The company has acquired approximately 230,000 acres within the Fort a la Corne and Gull Lake districts of Saskatchewan. The Fort a la Corne district contains one of the largest known clusters of diamondiferous kimberlite pipes in the world. The Monopros(Debeers) joint venture has spent in excess of $20-million on exploration and has identified 57 diamondiferous kimberlite pipes. At least one of these pipes contains up to one billion tonnes of material. The Gull Lake district also contains a number of diamondiferous kimberlites. Airborne magnetic surveys have been the primary exploration tool utilized in this area and have been successful in locating kimberlite pipes. Shane has obtained airborne magnetic data over portions of its properties that contain a number of anomalies interpreted to be kimberlites. This information is presently being analyzed. Ground geophysics will be used to prioritize drill targets and drilling will follow.
Importantly, recent information has been disseminated on the Fort a la Corne district indicating that up to 50 per cent of the macrodiamonds may have been missed in the recovery process. These results could completely alter the previous calculations of the economics of the numerous diamond pipes that have already been discovered in the Fort a la Corne district. Shane's property in the Fort a la Corne district adjoins that of Shore Gold, which is presently testing its kimberlites.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Mr. Mike Magrum
Director
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.