Post by Franko10 ™ on Sept 16, 2004 10:39:10 GMT -5
Diagem reports that KWG Resource Inc. (“KWG” – TSXV), and joint venture partner Spider Resources Inc. (“Spider”) announce the results of the tenth drill hole of the McFaulds #3 deposit winter drilling program. Drill Hole McF-04-29, intersected a 2.5 meter section of heavy sulphide mineralization, which returned the following results:
Section
Station Dip From
(m)
To
(m)
Interval
(m)
% Cu
% Zn
Au
(g/t)
Ag
(g/t)
8+00
2+00 N
-75
326.6
329.4
2.5
4.39
0.01
0.92
8.9
This the 10th hole of the current program cut the mineralized section at a depth of approximately 300 meters on section 8+00 NE on an azimuth of Grid-South with a dip of 75 degrees. This hole was designed to test the depth extension of the #3 zone mineralization encountered in Holes McF-04-21 and 24.
The copper mineralization intersected in hole McF-04-29 is still open and it is expected that copper mineralization of similar thickness as in Hole #21 (see below) will be found on adjacent lines as well as at depth.
The copper mineralization found in Hole McF-04-29 is approximately 120 meters down the dip slope (approximately 50m vertically) below McF-04-21 and about 130 meters down slope (approximately 55m vertically) below McF-04-24. This new intersection demonstrates the lateral continuity of the High-Grade copper mineralization found in the drilling on other sections.
The results below were reported in a Press release dated March 1, 2004;
Drilling has been suspended on the McFaulds #3 and a down-hole Geophysical program is planned to provide additional information on the mineralization. A new drilling program will be commenced on McFaulds #3 after spring break-up. In the meantime the Joint Venture is drill testing a number of other high priority airborne geophysical targets on which further ground surveys have been completed.
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
Section
Station Dip From
(m)
To
(m)
Interval
(m)
% Cu
% Zn
Au
(g/t)
Ag
(g/t)
8+00
2+00 N
-75
326.6
329.4
2.5
4.39
0.01
0.92
8.9
This the 10th hole of the current program cut the mineralized section at a depth of approximately 300 meters on section 8+00 NE on an azimuth of Grid-South with a dip of 75 degrees. This hole was designed to test the depth extension of the #3 zone mineralization encountered in Holes McF-04-21 and 24.
The copper mineralization intersected in hole McF-04-29 is still open and it is expected that copper mineralization of similar thickness as in Hole #21 (see below) will be found on adjacent lines as well as at depth.
The copper mineralization found in Hole McF-04-29 is approximately 120 meters down the dip slope (approximately 50m vertically) below McF-04-21 and about 130 meters down slope (approximately 55m vertically) below McF-04-24. This new intersection demonstrates the lateral continuity of the High-Grade copper mineralization found in the drilling on other sections.
The results below were reported in a Press release dated March 1, 2004;
Drilling has been suspended on the McFaulds #3 and a down-hole Geophysical program is planned to provide additional information on the mineralization. A new drilling program will be commenced on McFaulds #3 after spring break-up. In the meantime the Joint Venture is drill testing a number of other high priority airborne geophysical targets on which further ground surveys have been completed.
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