Post by Franko10 ™ on Sept 12, 2005 8:17:33 GMT -5
Forest Gate and Majescor Launch Portage Exploration Program
09:01 EDT Monday, September 12, 2005
MONTREAL, Sept. 12 /CNW/ - Forest Gate Resources and Majescor Resources are pleased to announce the start of the 2005 exploration program on the Portage property in the Otish Mountain region of central Quebec.
Exploration crews have been mobilized to the area to carry out a focused till-sampling program. The Portage property is located adjacent to SOQUEM/Ashton Mining's Foxtrot claims hosting the diamondiferous Renard kimberlites.
The focus of the 2005 program is to follow up and expand upon work performed in 2004 when a comprehensive regional till-sampling program highlighted several areas of promising kimberlite potential that culminated in the discovery of an insitu kimberlite.
In the spring of 2005, three diamond drill holes pierced the kimberlite sill with intercepts ranging from 0.5 metres up to an interpreted 1.3 metres. By comparison, the DeBeers Snap Lake project will soon mine a low angle kimberlite sill structure that averages about 3.0 metres in width.
"We believe in the exploration methodology used by Majescor" stated Steve Roebuck, Forest Gate's Vice President of Exploration. "They have proven that by following smoke you can find fire. They employ solid prospecting techniques coupled with the latest in geoscience technology."
"We had originally budgeted $500,000 dollars for work in 2005 but we were so impressed with the discovery potential that we doubled that to one million dollars in order to accelerate the program" said Roebuck.
Please visit www.forestgate.ca to see the new Steve Roebuck video interview on this and other significant events for Forest Gate Resources.
Jacques Letendre, 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 Quebec. The company's shares 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: PLEASE CONTACT: ROBERT KRAMBERGER, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, http://WWW.FORESTGATE.CA; OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM
09:01 EDT Monday, September 12, 2005
MONTREAL, Sept. 12 /CNW/ - Forest Gate Resources and Majescor Resources are pleased to announce the start of the 2005 exploration program on the Portage property in the Otish Mountain region of central Quebec.
Exploration crews have been mobilized to the area to carry out a focused till-sampling program. The Portage property is located adjacent to SOQUEM/Ashton Mining's Foxtrot claims hosting the diamondiferous Renard kimberlites.
The focus of the 2005 program is to follow up and expand upon work performed in 2004 when a comprehensive regional till-sampling program highlighted several areas of promising kimberlite potential that culminated in the discovery of an insitu kimberlite.
In the spring of 2005, three diamond drill holes pierced the kimberlite sill with intercepts ranging from 0.5 metres up to an interpreted 1.3 metres. By comparison, the DeBeers Snap Lake project will soon mine a low angle kimberlite sill structure that averages about 3.0 metres in width.
"We believe in the exploration methodology used by Majescor" stated Steve Roebuck, Forest Gate's Vice President of Exploration. "They have proven that by following smoke you can find fire. They employ solid prospecting techniques coupled with the latest in geoscience technology."
"We had originally budgeted $500,000 dollars for work in 2005 but we were so impressed with the discovery potential that we doubled that to one million dollars in order to accelerate the program" said Roebuck.
Please visit www.forestgate.ca to see the new Steve Roebuck video interview on this and other significant events for Forest Gate Resources.
Jacques Letendre, 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 Quebec. The company's shares 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: PLEASE CONTACT: ROBERT KRAMBERGER, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, http://WWW.FORESTGATE.CA; OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM