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Post by Franko10 ™ on Jun 6, 2005 11:38:35 GMT -5
Forest Gate Undertakes More Drilling on East Side (cnw)
MONTREAL, June 6 /CNW/ - Forest Gate Resources Inc. reports that it has started a 20-hole drilling program on its East Side property near Prince Albert, Saskatchewan.
The drilling program has two purposes: to further delineate the geometry and geology of Forest Gate's Dizzy kimberlite pipe and to drill a magnetic anomaly and another target that the company has identified on its 100 percent- owned, four-square mile East Side property.
A stacked magnetic/gravity anomaly straddling the southern boundary with Shore Gold will be drill-tested.
Forest Gate will also drill along the western border of its property. This will follow up drilling done there by the previous owners in 1993, which intersected kimberlite in two holes near kimberlite pipe 121, owned by the Kensington and De Beers joint venture.
Connors Drilling, Kamloops, B.C., have been contracted to execute the drilling. Forest Gate's Vice-President of Exploration, Steve Roebuck, worked extensively with Connors at BHP Billiton's EKATI diamond mine.
Forest Gate has completed its airborne electro-magnetic survey of its South Side property and is awaiting data and a final report from its geophysical consultants.
In 2003, Forest Gate recovered 37 diamonds from a 485-kilogram kimberlite sample taken from its 100 percent-owned Dizzy kimberlite pipe. The sample was recovered from a five-hole drill program.
Included in the 37 diamonds were eight with at least one dimension greater than 0.5 mm. Of these, three had two dimensions greater than 0.5 mm, including one with one dimension greater than 1.0 mm. Virtually all of the stones were diamond fragments indicating potentially larger source-diamonds.
Ralph Newson, P.Eng., 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 precious and base metal properties in New Brunswick. The company's shares and warrants 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, INVESTOR RELATIONS, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER(at)FORESTGATE.CA, http://WWW.FORESTGATE.CA; OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR(at)TIGERCAPITAL.COM/
MONTREAL, June 6 /CNW/ - Forest Gate Resources Inc. reports that it has started a 20-hole drilling program on its East Side property near Prince Albert, Saskatchewan.
The drilling program has two purposes: to further delineate the geometry and geology of Forest Gate's Dizzy kimberlite pipe and to drill a magnetic anomaly and another target that the company has identified on its 100 percent- owned, four-square mile East Side property.
A stacked magnetic/gravity anomaly straddling the southern boundary with Shore Gold will be drill-tested.
Forest Gate will also drill along the western border of its property. This will follow up drilling done there by the previous owners in 1993, which intersected kimberlite in two holes near kimberlite pipe 121, owned by the Kensington and De Beers joint venture.
Connors Drilling, Kamloops, B.C., have been contracted to execute the drilling. Forest Gate's Vice-President of Exploration, Steve Roebuck, worked extensively with Connors at BHP Billiton's EKATI diamond mine.
Forest Gate has completed its airborne electro-magnetic survey of its South Side property and is awaiting data and a final report from its geophysical consultants.
In 2003, Forest Gate recovered 37 diamonds from a 485-kilogram kimberlite sample taken from its 100 percent-owned Dizzy kimberlite pipe. The sample was recovered from a five-hole drill program.
Included in the 37 diamonds were eight with at least one dimension greater than 0.5 mm. Of these, three had two dimensions greater than 0.5 mm, including one with one dimension greater than 1.0 mm. Virtually all of the stones were diamond fragments indicating potentially larger source-diamonds.
Ralph Newson, P.Eng., 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 precious and base metal properties in New Brunswick. The company's shares and warrants 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, INVESTOR RELATIONS, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER(at)FORESTGATE.CA, http://WWW.FORESTGATE.CA; OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR(at)TIGERCAPITAL.COM/
