Post by Franko10 ™ on Sept 16, 2004 7:50:37 GMT -5
KWG RESOURCES INC. ("KWG") and joint venture partner Spider Resources Inc. ("Spider") announce that De Beers Canada Exploration Inc. ("De Beers") will commence drilling on EIGHT (8) KIMBERLITE targets by mid March.
The Spider No. 3 project encompasses an area 70 kilometers by 120 kilometers and is located in the James Bay Lowlands region of northern Ontario, west of the area, that hosts seven (7) DIAMOND BEARING KIMBERLITES DISCOVERED AND OWNED BY THE KWG/SPIDER JOINT VENTURE, AS WELL AS 17 OTHER KIMBERLITES INCLUDING DE BEERS ADVANCED PROJECT ON THE VICTOR KIMBERLITE.
In addition, the joint venture is actively exploring their WAWA PROPERTY ON WHICH NINE DIFFERENT DIAMOND OCCURRENCES HAVE BEEN IDENTIFIED TO-DATE. Additional samples are being tested, a more detailed analysis is in progress and the results are expected in the next few weeks.
De Beers under the option agreement of March 5, 2001 has identified a number of high priority kimberlite targets that were staked during the winter 2001 and subsequently conducted additional surface exploration including airborne and ground geophysics along with geochemical sampling. De Beers' multi-faceted exploration approach has upgraded eight (8) of these targets to drill test status. In addition, De Beers is planning to conduct detailed ground geophysics on six (6) other targets within the Spider No. 3 area.
KWG and Spider are currently awaiting the results of core samples collected during a winter 2001 drilling program on the Kyle No. 3 kimberlite, also in the James Bay Lowlands area of northern Ontario. Laboratory testing of the samples is expected to be completed shortly and analysis of the results will be finalized before the end of March.
March 18, 2002
The Spider No. 3 project encompasses an area 70 kilometers by 120 kilometers and is located in the James Bay Lowlands region of northern Ontario, west of the area, that hosts seven (7) DIAMOND BEARING KIMBERLITES DISCOVERED AND OWNED BY THE KWG/SPIDER JOINT VENTURE, AS WELL AS 17 OTHER KIMBERLITES INCLUDING DE BEERS ADVANCED PROJECT ON THE VICTOR KIMBERLITE.
In addition, the joint venture is actively exploring their WAWA PROPERTY ON WHICH NINE DIFFERENT DIAMOND OCCURRENCES HAVE BEEN IDENTIFIED TO-DATE. Additional samples are being tested, a more detailed analysis is in progress and the results are expected in the next few weeks.
De Beers under the option agreement of March 5, 2001 has identified a number of high priority kimberlite targets that were staked during the winter 2001 and subsequently conducted additional surface exploration including airborne and ground geophysics along with geochemical sampling. De Beers' multi-faceted exploration approach has upgraded eight (8) of these targets to drill test status. In addition, De Beers is planning to conduct detailed ground geophysics on six (6) other targets within the Spider No. 3 area.
KWG and Spider are currently awaiting the results of core samples collected during a winter 2001 drilling program on the Kyle No. 3 kimberlite, also in the James Bay Lowlands area of northern Ontario. Laboratory testing of the samples is expected to be completed shortly and analysis of the results will be finalized before the end of March.
March 18, 2002