Owner
Post by Franko10 ™ on Jan 31, 2005 8:42:37 GMT -5
Forest Gate Acquires Large Property Position In Fort a la Corne - Targeting the next 'field' of kimberlites
08:00 EST Monday, January 31, 2005
MONTREAL, Jan. 31 /CNW/ - Forest Gate Resources reports that it has staked 42, 368 hectares of new property south of Prince Albert and Fort a la Corne in an area that it has interpreted as potentially hosting an additional field of kimberlites.
Forest Gate has staked a large area that runs along a northwest-southeast axis for approximately 30 kilometres and is about 10 kilometres wide. The Forest Gate ground runs along the same northwest-southeast axis as the known field in Fort a la Corne owned by the Kensington-De Beers joint venture and roughly mirrors its shape and size.
"We think there is an excellent chance that the field continues in a southeasterly direction along fault structures," said Steve Roebuck, Forest Gate's Vice-President, Exploration. "This southeastern area is magnetically noisy, and weakly magnetic kimberlites could easily have been missed with airborne magnetic surveys executed in the past."
The known kimberlite field at Fort a la Corne consists of some 70 kimberlites and is one of the largest in the world. The additional staking that has been undertaken to date in the area has consisted of staking claims adjacent to the known field.
"Staking around the known field is the obvious thing to do," says Pieter Du Plessis, President of Du Plessis Trust, Forest Gate's diamond exploration consultant. "Less obvious is interpreting where the trend may continue, if, in fact, it does continue. I think it has the potential to continue in a southeasterly direction along fault structures identified with geophysics."
"To provide an analogous situation, less than half of the 70 plus kimberlites discovered in the Orapa kimberlite province in Botswana were discovered during the first phase of exploration during late 1960s and early 1970s," said Du Plessis. "The rest of the kimberlites were discovered using the improved technology of the 1990s."
"This property acquisition undertaking is consistent with our belief that diamond exploration is at an early stage in Central Saskatchewan," said Roebuck. "Very little money has been spent there in relative terms. Most of the diamond exploration money in this country is being spent in Nunavut and the Northwest Territories in the face of strong evidence suggesting economic deposits of diamonds may exist much closer to existing infrastructure."
Ralph Newson, P.Eng., P.Geo. and Qualified Person has reviewed the technical information contained in this news release.
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: Michael Judson, President & CEO, 1-866-666-3040, mjudson(at)forestgate.ca/
08:00 EST Monday, January 31, 2005
MONTREAL, Jan. 31 /CNW/ - Forest Gate Resources reports that it has staked 42, 368 hectares of new property south of Prince Albert and Fort a la Corne in an area that it has interpreted as potentially hosting an additional field of kimberlites.
Forest Gate has staked a large area that runs along a northwest-southeast axis for approximately 30 kilometres and is about 10 kilometres wide. The Forest Gate ground runs along the same northwest-southeast axis as the known field in Fort a la Corne owned by the Kensington-De Beers joint venture and roughly mirrors its shape and size.
"We think there is an excellent chance that the field continues in a southeasterly direction along fault structures," said Steve Roebuck, Forest Gate's Vice-President, Exploration. "This southeastern area is magnetically noisy, and weakly magnetic kimberlites could easily have been missed with airborne magnetic surveys executed in the past."
The known kimberlite field at Fort a la Corne consists of some 70 kimberlites and is one of the largest in the world. The additional staking that has been undertaken to date in the area has consisted of staking claims adjacent to the known field.
"Staking around the known field is the obvious thing to do," says Pieter Du Plessis, President of Du Plessis Trust, Forest Gate's diamond exploration consultant. "Less obvious is interpreting where the trend may continue, if, in fact, it does continue. I think it has the potential to continue in a southeasterly direction along fault structures identified with geophysics."
"To provide an analogous situation, less than half of the 70 plus kimberlites discovered in the Orapa kimberlite province in Botswana were discovered during the first phase of exploration during late 1960s and early 1970s," said Du Plessis. "The rest of the kimberlites were discovered using the improved technology of the 1990s."
"This property acquisition undertaking is consistent with our belief that diamond exploration is at an early stage in Central Saskatchewan," said Roebuck. "Very little money has been spent there in relative terms. Most of the diamond exploration money in this country is being spent in Nunavut and the Northwest Territories in the face of strong evidence suggesting economic deposits of diamonds may exist much closer to existing infrastructure."
Ralph Newson, P.Eng., P.Geo. and Qualified Person has reviewed the technical information contained in this news release.
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: Michael Judson, President & CEO, 1-866-666-3040, mjudson(at)forestgate.ca/
