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Post by Franko10 ™ on Nov 14, 2005 9:03:17 GMT -5
Forest Gate Finishes Soil Sampling at Portage Diamond Property
09:57 EST Monday, November 14, 2005
MONTREAL, Nov. 14 /CNW/ - Forest Gate Resources Inc. reports that glacial sediment sampling and regional prospecting have been completed on its joint venture Portage diamond property in the Otish Mountain region of central Quebec.
The seven-week campaign saw a total of 1087 glacial sediment samples collected with 939 of the samples testing previously identified anomalies and the balance of samples filling-in areas that were under sampled in previous years.
Full results from the lab are expected in early 2006 in time for a spring exploration program that could include target-specific geophysics and possibly diamond drilling.
The Portage diamond property, being explored in partnership with Majescor Resources, is located adjacent to Ashton Mining/SOQUEM's Foxtrot property that hosts the diamondiferous Renard, Lynx and Hibou kimberlites.
"This is the way you develop drill targets in the Otish Mountains," said Steve Roebuck, Forest Gate's Vice President of Exploration. "We are following the highly successful exploration model employed by Ashton Mining of Canada who have discovered over 25.5 million tonnes of diamondiferous kimberlite just 20 kilometres away. The Renard, Lynx and Hibou kimberlites are now one bulk- sample-test away from going into the mine prefeasibility process."
In early 2005, Majescor successfully utilized this model of glacial sediment sampling, kimberlite boulder-tracing techniques and target-specific geophysical surveying to discover the diamondiferous Remick dyke located on northwestern section of the joint venture Portage diamond property.
The glacial sediment sampling program targets eskers, sandy remnants of old rivers found below glaciers, whose waters may have passed over kimberlite pipes or dykes. If a sample comes back positive for indicator minerals, such as garnets, chrome diopsides or ilmenites, a target is created and a follow-up sampling program will focus on the anomaly.
Additionally, the 2005 prospecting campaign discovered an area containing numerous metre-sized lamprophyre boulders that appear to have come from a nearby dyke structure. As glaciers advanced and scoured the bedrock, lamprophyre boulders were literally plucked from the dyke structure and deposited down-ice. Therefore, the search for the host dyke will be focused in the up-ice direction.
The samples from the 2005 program were shipped to Overburden Drilling Management's lab in Ottawa, Ontario to be analyzed for indicator mineral chemistry.
Ashton/SOQUEM's Foxtrot diamond property has been explored for diamonds for less than 10 years. In 2001, the Renard 1 and 2 kimberlite bodies were discovered using indicator mineral sampling and geophysical surveying. Since that first discovery, the Renard complex has grown to nine kimberlites. Additionally, the Lynx dyke, and most recently the Hibou dyke, have also been discovered.
An Ashton Mining press release dated November 8, 2005 states. "The drilling data derived to date from the Renard 2, 3, 4 and 9, when combined with assumptions about shape of the bodies at depth, suggest that these bodies may contain 23.2 to 27.5 million tonnes of kimberlitic material. Using the estimated diamond content of the samples analyzed thus far, these bodies could potentially contain 18.6 to 22.0 million carats of diamonds. Also encouraging is the initial modeled value of US$88 per carat reported on April 26, 2005 for a parcel of Renard diamonds."
Forest Gate has entered into a joint venture agreement with Majescor Resources to explore the Portage property. Details of the arrangement can be found in the company press release dated July 6, 2005 posted on the web link below.
Please visit www.forestgate.ca to see the new property map and Steve Roebuck's on site video interview with Majescor Resources' founding Director and Principal Consultant Jacques Letendre.
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, V-P, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, WWW.FORESTGATE.CA, OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM
09:57 EST Monday, November 14, 2005
MONTREAL, Nov. 14 /CNW/ - Forest Gate Resources Inc. reports that glacial sediment sampling and regional prospecting have been completed on its joint venture Portage diamond property in the Otish Mountain region of central Quebec.
The seven-week campaign saw a total of 1087 glacial sediment samples collected with 939 of the samples testing previously identified anomalies and the balance of samples filling-in areas that were under sampled in previous years.
Full results from the lab are expected in early 2006 in time for a spring exploration program that could include target-specific geophysics and possibly diamond drilling.
The Portage diamond property, being explored in partnership with Majescor Resources, is located adjacent to Ashton Mining/SOQUEM's Foxtrot property that hosts the diamondiferous Renard, Lynx and Hibou kimberlites.
"This is the way you develop drill targets in the Otish Mountains," said Steve Roebuck, Forest Gate's Vice President of Exploration. "We are following the highly successful exploration model employed by Ashton Mining of Canada who have discovered over 25.5 million tonnes of diamondiferous kimberlite just 20 kilometres away. The Renard, Lynx and Hibou kimberlites are now one bulk- sample-test away from going into the mine prefeasibility process."
In early 2005, Majescor successfully utilized this model of glacial sediment sampling, kimberlite boulder-tracing techniques and target-specific geophysical surveying to discover the diamondiferous Remick dyke located on northwestern section of the joint venture Portage diamond property.
The glacial sediment sampling program targets eskers, sandy remnants of old rivers found below glaciers, whose waters may have passed over kimberlite pipes or dykes. If a sample comes back positive for indicator minerals, such as garnets, chrome diopsides or ilmenites, a target is created and a follow-up sampling program will focus on the anomaly.
Additionally, the 2005 prospecting campaign discovered an area containing numerous metre-sized lamprophyre boulders that appear to have come from a nearby dyke structure. As glaciers advanced and scoured the bedrock, lamprophyre boulders were literally plucked from the dyke structure and deposited down-ice. Therefore, the search for the host dyke will be focused in the up-ice direction.
The samples from the 2005 program were shipped to Overburden Drilling Management's lab in Ottawa, Ontario to be analyzed for indicator mineral chemistry.
Ashton/SOQUEM's Foxtrot diamond property has been explored for diamonds for less than 10 years. In 2001, the Renard 1 and 2 kimberlite bodies were discovered using indicator mineral sampling and geophysical surveying. Since that first discovery, the Renard complex has grown to nine kimberlites. Additionally, the Lynx dyke, and most recently the Hibou dyke, have also been discovered.
An Ashton Mining press release dated November 8, 2005 states. "The drilling data derived to date from the Renard 2, 3, 4 and 9, when combined with assumptions about shape of the bodies at depth, suggest that these bodies may contain 23.2 to 27.5 million tonnes of kimberlitic material. Using the estimated diamond content of the samples analyzed thus far, these bodies could potentially contain 18.6 to 22.0 million carats of diamonds. Also encouraging is the initial modeled value of US$88 per carat reported on April 26, 2005 for a parcel of Renard diamonds."
Forest Gate has entered into a joint venture agreement with Majescor Resources to explore the Portage property. Details of the arrangement can be found in the company press release dated July 6, 2005 posted on the web link below.
Please visit www.forestgate.ca to see the new property map and Steve Roebuck's on site video interview with Majescor Resources' founding Director and Principal Consultant Jacques Letendre.
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, V-P, SHAREHOLDER RELATIONS & CORPORATE MARKETING, FOREST GATE RESOURCES INC., (866) 666-3040, RKRAMBERGER@FORESTGATE.CA, WWW.FORESTGATE.CA, OR TREVOR BURNS, PRESIDENT, TIGER CAPITAL CORPORATION, TORONTO, ONTARIO, (416) 252-3663, INVESTOR@TIGERCAPITAL.COM
