Post by Franko10 ™ on Sept 16, 2004 10:33:06 GMT -5
Diagem reports that KWG Resource Inc. (“KWG” – TSXV), and joint venture partner Spider Resources Inc. (“Spider”) announce the results of three drill holes from their continuing winter drilling program on the McFaulds #3 deposit. Drill Holes McF-04-23, 24 and 25 intersected moderate sulphide mineralization, and returned the following results:
Hole McF-04-23 undercut previously reported hole McF-04-22 on the same section at approximately 125 meters below surface, while hole McF-04-24 undercut both of these holes at 175 meters below surface. These results suggest that the higher grade copper mineralization is persisting to depth, although the zone is somewhat thinner on section 7+50. Hole McF-04-25 was drilled 50 meters SW on section 7+00 NE.
Previously announced (Nov. 13, 2003 and Feb. 10 - Feb. 19, 2004) holes (McF-03-18, 20, 21) are all on Section 8+00 NE.
Hole McF-03-18 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (ppm)
Ag (ppm)
128.75
154.5
25.75
0.506
4.83
0.070
2.73
INCLUDING:
128.75
131.25
2.5
0.25
9.52
0.031
1.73
INCLUDING:
136.50
139.34
2.95
0.56
7.52
0.142
4.19
INCLUDING:
145.00
154.50
9.50
0.72
7.95
0.060
3.15
FOLLOWED BY:
154.5
162.45
7.95
1.502
0.12
0.321
8.47
Hole McF-03-20 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (g/t)
Ag (g/t)
68.4
74.3
5.87
2.8
0.02
0.5
15.5
91.2
95.4
4.2
0.26
11.8
Tr
1.57
Hole McF-03-21 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (g/t)
Ag (g/t)
220.55
234.36
13.81
5.5
0.34
0.52
15.4
INCLUDING:
228.96
233.59
4.63
10.4
0.86
0.68
30.7
Hole McF-04-22 on section 7+50 NE (announced Feb. 23, 2004) intersected 15 meters that averaged 4.06% Cu including a 3.31 meter section that averaged 9.98% Cu and 1.29 g/t Au.
The Joint Venture has completed 10 holes to date in the current campaign that continues the exploration of McFaulds #3 VMS occurrence. We are awaiting assay results from 4 more of these holes.
While the partners await these assays and plan the next phase of drilling on McFaulds #3, they have started hole eleven in the current series, that is designed to test a new anomaly, located approximately 800 meters to the north of the McFaulds #3 occurrence. This new anomaly was detected in the recent MaxMin - Magnetic ground survey completed over the McFaulds #3 grid.
All analytical results reported herein are from samples selected during the normal logging process of the drill core as conducted by site geologist, Roger Thomas, M.Sc. (P. Eng.), an independent Qualified Person. Samples were individually bagged and delivered under bond from the field location to ALS Chemex's sample preparation facility in Thunder Bay, Ontario where they were crushed, split and then sent via bonded air courier to the ALS Chemex Laboratory in Vancouver, B.C. where the samples were analyzed using ME-MS61 (4 acid digestion - ICP finish) multi-element analysis. All samples reported as an 'over-limit'result are reprocessed internally by the lab using AA-62 (4 acid digestion - AA finish) for high-grade analysis.
Diagem is funding this drill program as part of its $2,000,000 earn-in into the joint venture. Once these funds have been expended, Diagem will have earned an 8% interest in the joint venture, which may be converted into an equity interest in KWG (8,666,667 shares) and Spider (9,600,000 shares).
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President
Hole McF-04-23 undercut previously reported hole McF-04-22 on the same section at approximately 125 meters below surface, while hole McF-04-24 undercut both of these holes at 175 meters below surface. These results suggest that the higher grade copper mineralization is persisting to depth, although the zone is somewhat thinner on section 7+50. Hole McF-04-25 was drilled 50 meters SW on section 7+00 NE.
Previously announced (Nov. 13, 2003 and Feb. 10 - Feb. 19, 2004) holes (McF-03-18, 20, 21) are all on Section 8+00 NE.
Hole McF-03-18 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (ppm)
Ag (ppm)
128.75
154.5
25.75
0.506
4.83
0.070
2.73
INCLUDING:
128.75
131.25
2.5
0.25
9.52
0.031
1.73
INCLUDING:
136.50
139.34
2.95
0.56
7.52
0.142
4.19
INCLUDING:
145.00
154.50
9.50
0.72
7.95
0.060
3.15
FOLLOWED BY:
154.5
162.45
7.95
1.502
0.12
0.321
8.47
Hole McF-03-20 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (g/t)
Ag (g/t)
68.4
74.3
5.87
2.8
0.02
0.5
15.5
91.2
95.4
4.2
0.26
11.8
Tr
1.57
Hole McF-03-21 highlights were as follows:
From (m)
To (m)
Interval (m)
% Cu
% Zn
Au (g/t)
Ag (g/t)
220.55
234.36
13.81
5.5
0.34
0.52
15.4
INCLUDING:
228.96
233.59
4.63
10.4
0.86
0.68
30.7
Hole McF-04-22 on section 7+50 NE (announced Feb. 23, 2004) intersected 15 meters that averaged 4.06% Cu including a 3.31 meter section that averaged 9.98% Cu and 1.29 g/t Au.
The Joint Venture has completed 10 holes to date in the current campaign that continues the exploration of McFaulds #3 VMS occurrence. We are awaiting assay results from 4 more of these holes.
While the partners await these assays and plan the next phase of drilling on McFaulds #3, they have started hole eleven in the current series, that is designed to test a new anomaly, located approximately 800 meters to the north of the McFaulds #3 occurrence. This new anomaly was detected in the recent MaxMin - Magnetic ground survey completed over the McFaulds #3 grid.
All analytical results reported herein are from samples selected during the normal logging process of the drill core as conducted by site geologist, Roger Thomas, M.Sc. (P. Eng.), an independent Qualified Person. Samples were individually bagged and delivered under bond from the field location to ALS Chemex's sample preparation facility in Thunder Bay, Ontario where they were crushed, split and then sent via bonded air courier to the ALS Chemex Laboratory in Vancouver, B.C. where the samples were analyzed using ME-MS61 (4 acid digestion - ICP finish) multi-element analysis. All samples reported as an 'over-limit'result are reprocessed internally by the lab using AA-62 (4 acid digestion - AA finish) for high-grade analysis.
Diagem is funding this drill program as part of its $2,000,000 earn-in into the joint venture. Once these funds have been expended, Diagem will have earned an 8% interest in the joint venture, which may be converted into an equity interest in KWG (8,666,667 shares) and Spider (9,600,000 shares).
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President