Post by Franko10 ™ on Sept 11, 2004 14:42:20 GMT -5
News Release
November 14, 2001
Shane Releases Preliminary 122 West Results
Shane Resources has released the preliminary results from the recently completed drill program on the 122 West project, in the Fort a la Corne area of Saskatchewan.
A total of three HQ size diamond drill holes comprising 573 metres were completed on the property. These holes targeted magnetic anomalies that are located immediately west of the Kensington/DeBeers diamond-bearing kimberlite body No. 122.
Hole 122W-1 intersected a narrow interval of coarse fragmental kimberlite accompanied by diamond indicator minerals at a depth of 168 metres. The remaining holes (122W-2 and 122W-3) intersected intervals of what are to be interpreted to be fine grained, subaqueous reworked kimberlite. Samples are currently being prepared for shipment to the Saskatchewan Research Council for petrographic and microprobe analysis. Based on these results, the samples will be processed by caustic dissolution for diamond content.
The area tested represents but a small portion of the 122 West project. Future exploration programs are being planned and will in the first instance include comprehensive property scale geophysics, followed by diamond drilling on targets of merit. Current ownership of the property is: Shane Resources Ltd. 25 per cent; First Labrador Acquisitions Inc. 25 per cent; Consolidated Pine Channel Gold Corp. 17.5 per cent; United Carina Resources Corp. 17.5 per cent; and Twin Oaks Management Inc. 15 per cent.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
November 14, 2001
Shane Releases Preliminary 122 West Results
Shane Resources has released the preliminary results from the recently completed drill program on the 122 West project, in the Fort a la Corne area of Saskatchewan.
A total of three HQ size diamond drill holes comprising 573 metres were completed on the property. These holes targeted magnetic anomalies that are located immediately west of the Kensington/DeBeers diamond-bearing kimberlite body No. 122.
Hole 122W-1 intersected a narrow interval of coarse fragmental kimberlite accompanied by diamond indicator minerals at a depth of 168 metres. The remaining holes (122W-2 and 122W-3) intersected intervals of what are to be interpreted to be fine grained, subaqueous reworked kimberlite. Samples are currently being prepared for shipment to the Saskatchewan Research Council for petrographic and microprobe analysis. Based on these results, the samples will be processed by caustic dissolution for diamond content.
The area tested represents but a small portion of the 122 West project. Future exploration programs are being planned and will in the first instance include comprehensive property scale geophysics, followed by diamond drilling on targets of merit. Current ownership of the property is: Shane Resources Ltd. 25 per cent; First Labrador Acquisitions Inc. 25 per cent; Consolidated Pine Channel Gold Corp. 17.5 per cent; United Carina Resources Corp. 17.5 per cent; and Twin Oaks Management Inc. 15 per cent.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.