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Post by Franko10 ™ on Aug 3, 2005 7:07:14 GMT -5
Forest Gate Resources Inc. - Dizzy Drilling Proves Kimberlite Goes Deep
08:00 EDT Wednesday, August 03, 2005
2005 Drill Program: All nine holes hit kimberlite
SHARES OUTSTANDING: 61 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Aug. 3 /CNW/ - Forest Gate Resources Inc. reports that all nine holes drilled into the diamondiferous Dizzy pipe have intersected kimberlite. An examination of the drill core shows three holes had kimberlite intersections greater than 110 metres. The thickest kimberlite intersection was in Hole FG05-14, which intersected 117 metres of continuous kimberlite.
A total of nine HQ size holes (with a diameter of 64mm) have been drilled on its Dizzy kimberlite pipe as part of the company's on-going 2005 East Side Diamond Property exploration program in Fort a la Corne, Saskatchewan. All nine holes were drilled vertically and on 50-metre spacing.
"In baseball terms we're batting a thousand, it can't get better than that, nine holes drilled with nine kimberlite intercepts; including three intercepts over 110 metres," said Steve Roebuck, Vice President of Exploration.
Two holes, FG05-14 and FG05-16, were selected for sampling and have been shipped to SGS Lakefield Research Limited, Lakefield, Ontario for micro diamond analysis.
Details of the program are as follows:
- Hole FG05-12: 115 metres of kimberlite
- Hole FG05-13: 39 metres of kimberlite
- Hole FG05-14: 117 metres of kimberlite
- Hole FG05-15: 30 metres of kimberlite
- Hole FG05-16: 112 metres of kimberlite
- Hole FG05-17: 45 metres of kimberlite
- Hole FG05-18: 36 metres of kimberlite
- Hole FG05-19: Not drilled
- Hole FG05-20: 23 metres of kimberlite
- Hole FG05-21: 12 metres of kimberlite
"I am very impressed by the amount of lithological diversity within the Dizzy pipe," continued Roebuck. "Yet there is a clear pattern of finer grained and altered kimberlite nearer the top of the pipe which grades into coarser and brecciated xenolithic-rich units as we move down-hole. In terms of indicator mineralogy we have units ranging from 25% to 40% coarse-grained olivine and fairly abundant chrome diopsides and garnets, both of which can be found locally in quantities up to 1% and can exceed 1 cm in size."
The drill defined surface expression of the Dizzy pipe, based on intersections from the 2003 and 2005 drill programs, now stands at approximately 3.0 hectares, stretching beyond 150 metres east to west and 200 metres north to south.
Drilling continues on other targets on the East Side Property, notably the southern drill target located along the shared Forest Gate/Shore Gold boundary as well as the western drill target which is the eastern extension of the diamondiferous 121 pipe owned by the DeBeers/Kensington joint venture.
For more information on the 2005 drill program please visit the geology section at www.forestgate.ca to view FAQs answered by Steve Roebuck.
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., 1-866-666-3040, rkramberger(at)forestgate.ca, http://www.forestgate.ca; or Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor(at)tigercapital.com/
08:00 EDT Wednesday, August 03, 2005
2005 Drill Program: All nine holes hit kimberlite
SHARES OUTSTANDING: 61 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Aug. 3 /CNW/ - Forest Gate Resources Inc. reports that all nine holes drilled into the diamondiferous Dizzy pipe have intersected kimberlite. An examination of the drill core shows three holes had kimberlite intersections greater than 110 metres. The thickest kimberlite intersection was in Hole FG05-14, which intersected 117 metres of continuous kimberlite.
A total of nine HQ size holes (with a diameter of 64mm) have been drilled on its Dizzy kimberlite pipe as part of the company's on-going 2005 East Side Diamond Property exploration program in Fort a la Corne, Saskatchewan. All nine holes were drilled vertically and on 50-metre spacing.
"In baseball terms we're batting a thousand, it can't get better than that, nine holes drilled with nine kimberlite intercepts; including three intercepts over 110 metres," said Steve Roebuck, Vice President of Exploration.
Two holes, FG05-14 and FG05-16, were selected for sampling and have been shipped to SGS Lakefield Research Limited, Lakefield, Ontario for micro diamond analysis.
Details of the program are as follows:
- Hole FG05-12: 115 metres of kimberlite
- Hole FG05-13: 39 metres of kimberlite
- Hole FG05-14: 117 metres of kimberlite
- Hole FG05-15: 30 metres of kimberlite
- Hole FG05-16: 112 metres of kimberlite
- Hole FG05-17: 45 metres of kimberlite
- Hole FG05-18: 36 metres of kimberlite
- Hole FG05-19: Not drilled
- Hole FG05-20: 23 metres of kimberlite
- Hole FG05-21: 12 metres of kimberlite
"I am very impressed by the amount of lithological diversity within the Dizzy pipe," continued Roebuck. "Yet there is a clear pattern of finer grained and altered kimberlite nearer the top of the pipe which grades into coarser and brecciated xenolithic-rich units as we move down-hole. In terms of indicator mineralogy we have units ranging from 25% to 40% coarse-grained olivine and fairly abundant chrome diopsides and garnets, both of which can be found locally in quantities up to 1% and can exceed 1 cm in size."
The drill defined surface expression of the Dizzy pipe, based on intersections from the 2003 and 2005 drill programs, now stands at approximately 3.0 hectares, stretching beyond 150 metres east to west and 200 metres north to south.
Drilling continues on other targets on the East Side Property, notably the southern drill target located along the shared Forest Gate/Shore Gold boundary as well as the western drill target which is the eastern extension of the diamondiferous 121 pipe owned by the DeBeers/Kensington joint venture.
For more information on the 2005 drill program please visit the geology section at www.forestgate.ca to view FAQs answered by Steve Roebuck.
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., 1-866-666-3040, rkramberger(at)forestgate.ca, http://www.forestgate.ca; or Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor(at)tigercapital.com/
