Post by Franko10 ™ on Sept 16, 2004 10:33:51 GMT -5
Diagem reports that KWG Resource Inc. (“KWG” – TSXV), and joint venture partner Spider Resources Inc. (“Spider”) announce the results of the seventh, eighth and ninth drill holes (McF-04-26, 27 and 28 respectively) of the winter drilling program on the McFaulds #3 deposit. In addition drilling on a geophysical anomaly 1000 meters north of the McFaulds #3 has intersected 33 meters of sulphide mineralization.
The holes 26, 27 and 28 intersected moderate sulphide mineralization with the following results:
Hole
Number
From
(m)
To
(m)
Interval
(m)
% Cu
% Zn
Au
(g/t)
Ag
(g/t)
McF-04-26
141.28
143.27
1.99
0.312
0.008
0.1
1.293
including
81.03
86.12
5.09
0.53
6.72
0.06
1.47
McF-04-28
102.6
109.75
7.15
1.22
3.05
0.09
3.29
including
105.94
109.75
3.81
2.08
1.52
0.14
5.13
McF-04-26, (the 7th hole) cut the mineralized zone at approximately 100 meters below surface on section 7+00 NE. Hole McF-04-26 was drilled on section 7+00 NE at 0+75 NW on an azimuth of Grid south with a dip of -60 degrees, undercutting previously announced hole McF-04-25. While these two holes have more or less defined the southwestern extent of the McFaulds #3 VMS occurrence the zone remains open at depth.
McF-04-27 and 28 (holes 8 and 9) were drilled on Section 8+50 NE at 0+75 NW drilled on an azimuth of grid south with dips of -45 and -65 degrees respectively. Hole McF-04-27 intersected significant zinc mineralization. Hole McF-04-28 undercut McF-04-27 by 50 metres and intersected significant copper mineralization. This stratigraphy appears to confirm the mineral zoning of this VMS occurrence.
The Joint Venture has now completed 10 holes on the McFaulds #3 occurrence, and is awaiting the assay results for the final hole.
The 11th and 12th drill holes in this drill campaign have been drilled on Section 5+00 NE at 9+00 NW approximately 1 kilometer north of the McFaulds #3 VMS occurrence. Drill Hole McF-04-30 drilled grid south at -45 degrees, encountered 33 meters of sulphide mineralization, at a vertical depth of 80 meters.
Drill hole McF-04-31 undercut hole McF-04-30 at a vertical depth of 160 meters using the same location, drilled at -70 degrees. This hole intercepted 23.2 meters of sulphide mineralization.
This new mineralized zone represents the Fourth Volcanogenic Massive Sulphide Occurrence to be discovered on the McFaulds Lake property by the joint venture within the past 12 months.
The Joint Venture is encouraged by this new discovery as it supports Dr. James Franklin's observation that massive sulphide deposits of the 'Noranda-type'occur in clusters. There are several other geophysical anomalies present in the 'Tear-Drop'shaped region of magnetic low that host the McFaulds Lake Sulphide deposits as well as elsewhere on the joint venture property. These other anomalies are currently being prioritized with ground geophysical surveying (see our web site for this geophysical map).
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'results 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
The holes 26, 27 and 28 intersected moderate sulphide mineralization with the following results:
Hole
Number
From
(m)
To
(m)
Interval
(m)
% Cu
% Zn
Au
(g/t)
Ag
(g/t)
McF-04-26
141.28
143.27
1.99
0.312
0.008
0.1
1.293
including
81.03
86.12
5.09
0.53
6.72
0.06
1.47
McF-04-28
102.6
109.75
7.15
1.22
3.05
0.09
3.29
including
105.94
109.75
3.81
2.08
1.52
0.14
5.13
McF-04-26, (the 7th hole) cut the mineralized zone at approximately 100 meters below surface on section 7+00 NE. Hole McF-04-26 was drilled on section 7+00 NE at 0+75 NW on an azimuth of Grid south with a dip of -60 degrees, undercutting previously announced hole McF-04-25. While these two holes have more or less defined the southwestern extent of the McFaulds #3 VMS occurrence the zone remains open at depth.
McF-04-27 and 28 (holes 8 and 9) were drilled on Section 8+50 NE at 0+75 NW drilled on an azimuth of grid south with dips of -45 and -65 degrees respectively. Hole McF-04-27 intersected significant zinc mineralization. Hole McF-04-28 undercut McF-04-27 by 50 metres and intersected significant copper mineralization. This stratigraphy appears to confirm the mineral zoning of this VMS occurrence.
The Joint Venture has now completed 10 holes on the McFaulds #3 occurrence, and is awaiting the assay results for the final hole.
The 11th and 12th drill holes in this drill campaign have been drilled on Section 5+00 NE at 9+00 NW approximately 1 kilometer north of the McFaulds #3 VMS occurrence. Drill Hole McF-04-30 drilled grid south at -45 degrees, encountered 33 meters of sulphide mineralization, at a vertical depth of 80 meters.
Drill hole McF-04-31 undercut hole McF-04-30 at a vertical depth of 160 meters using the same location, drilled at -70 degrees. This hole intercepted 23.2 meters of sulphide mineralization.
This new mineralized zone represents the Fourth Volcanogenic Massive Sulphide Occurrence to be discovered on the McFaulds Lake property by the joint venture within the past 12 months.
The Joint Venture is encouraged by this new discovery as it supports Dr. James Franklin's observation that massive sulphide deposits of the 'Noranda-type'occur in clusters. There are several other geophysical anomalies present in the 'Tear-Drop'shaped region of magnetic low that host the McFaulds Lake Sulphide deposits as well as elsewhere on the joint venture property. These other anomalies are currently being prioritized with ground geophysical surveying (see our web site for this geophysical map).
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'results 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