Owner
Post by Franko10 ™ on May 12, 2005 13:25:31 GMT -5
Final bulk sample diamond results: total 4,049 carats - 12.2, 8.5 and 6.2 carat diamonds in 550 carat parcel
14:18 EDT Thursday, May 12, 2005
Stock Symbol: SGF: TSX
SASKATOON, May 12 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce the fourteenth and final set of diamond recoveries from the bulk sample collected from the Star Kimberlite. The diamond recoveries total 4,048.81 carats from 27,836.54 dry tonnes processed. Included in this release are results for the final fourteen kimberlite batches of a total of 95 kimberlite batches that have been processed as part of the bulk sampling program on the Star Diamond Project. A total of 3,823 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 543.86 carats, has been recovered from the treatment of 3,288.23 dry tonnes of kimberlite. Eighty-three diamonds greater than one carat have been recovered and the four largest stones are: 12.19, 8.50, 6.18 and 5.73 carats, respectively. In addition, 390 diamonds (6.11 carats) were recovered down to 0.85 millimetre square mesh. The colour of 57 percent of these diamonds has been classified as white, with a further 14 percent classified as off-white.
Eleven of the kimberlite batches (of a total of 95 processed) have been mined from the Southeast drive (Batches 65, 66, 68, 70, 71, 72, 75, 76 and 77) and the North drive (Batches 67 and 69) developed from the 235 metre shaft station. All kimberlite batches (except 72 and 74) have been recovered from within the Early Joli Fou equivalent kimberlite. Batch 72 was recovered from the drill station prepared at the west end of the South 3 drift (close to the property boundary) and is finer grained material which probably represents the Late Joli Fou Kimberlite feeder vent. This accounts for the lower grade of Batch 72. Batch 74 consists of material scraped from the surface of the kimberlite stockpile areas and the low grade of this batch results from dilution of the kimberlite by surface sand. Batch 73 represents kimberlite mined from the 235 metre level that has been spilled down the shaft and was mucked from the base of the shaft at the end of bulk sample mining.
Kimberlite processed and diamond results for fourteen sample batches are listed in the table below.
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Diamonds
Location Number Largest
Batch (metres below Dry of Total Grade Stone
No. surface) Tonnes Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
65 235 m Level: SE drive 310.73 433 46.78 15.05 3.42
-------------------------------------------------------------------------
66 235 m Level: SE drive 402.90 653 72.91 18.10 2.79
-------------------------------------------------------------------------
67 235 m Level: N drive 237.72 344 45.67 19.21 3.75
-------------------------------------------------------------------------
68 235 m Level: SE drive 269.31 331 56.06 20.82 8.50
-------------------------------------------------------------------------
69 235 m Level: N drive 126.10 131 19.07 15.12 2.40
-------------------------------------------------------------------------
70 235 m Level: SE drive 63.82 75 9.15 14.34 1.48
-------------------------------------------------------------------------
71 235 m Level: SE drive 125.10 153 14.00 11.19 1.48
-------------------------------------------------------------------------
72 235 m Level: SE drive 126.05 86 6.61 5.25 0.66
-------------------------------------------------------------------------
73 Shaft Bottom Clean-up 278.73 235 37.53 13.46 4.84
-------------------------------------------------------------------------
74 Surface Stockpile Clean-up 201.94 64 6.59 3.26 0.70
-------------------------------------------------------------------------
75 235 m Level: SE drive 387.03 548 57.91 14.96 1.87
-------------------------------------------------------------------------
76 235 m Level: SE drive 440.89 736 103.21 23.41 6.18
-------------------------------------------------------------------------
77 235 m Level: SE drive 205.03 286 57.69 28.14 12.19
-------------------------------------------------------------------------
78 Underground Drift Clean-up 112.88 137 16.79 14.87 2.26
-------------------------------------------------------------------------
Total 3,288.23 4,212 549.97 16.73
-------------------------------------------------------------------------
Grades are expressed in carats per hundred tonnes (cpht).
The four largest stones are: 12.19 (Batch 77, White), 8.50 (Batch 68, Off
White), 6.18 (Batch 76, Off White) and 5.73 (Batch 77, Grey) carats,
respectively. Nineteen diamonds exceed two carats and 83 diamonds exceed one
carat, of which 28 are white, 23 are off-white, 25 are grey, 5 are brown and 2
are yellow. A total of 200 diamonds exceed 0.5 carat. Fifty-seven percent of
this diamond parcel is classified white in colour, with a further 11 percent
classified as off-white. The diamond parcel includes 8 yellow, 6 pink, and 12
amber stones. Ninety-nine percent of the carat weight of this parcel occurs in
diamonds greater than 1.18 millimetre square mesh.
Senior Vice President Exploration, George Read, states: "Shore Gold has
successfully completed the bulk sampling of the Star Kimberlite using a shaft
and associated lateral drifts to produce a total of 27,837 dry tonnes of
kimberlite. On-site kimberlite processing and final diamond recovery at
SGS Lakefield has resulted in a diamond parcel totaling 4,048.81 carats.
Diamond valuation, completed on the first 3,050 carats of this diamond parcel,
reported a modeled value of US$135 per carat. The positive characteristics of
the diamond parcel include a significant proportion of white goods (including
top quality whites), many large diamonds (up to 19.67 carats), rare coated
diamonds and a low proportion of brown and boart. Statistical analysis of the
diamond population size distribution suggests the potential for diamonds in
excess of 100 carats from the Star Kimberlite. The positive results of this
bulk sampling project, combined with the current favourable financial position
of the Company opens the way for the commencement of a prefeasibility study on
the Star Diamond Project. Details of the pre-feasibility study will follow
shortly in a separate news release."
The diamond recovery procedure included on site processing of kimberlite
through the modular dense media separator (DMS), after which DMS concentrates
were batch fed through an X-ray Flow-sort. In order to ensure the recovery of
low luminosity diamonds, the Flow-sort tailings are processed over a grease
table. Flow-sort and grease table concentrates were transported by a secure
carrier to SGS Lakefield Research for final diamond recovery. The SGS
Lakefield Research process included drying, screening, magnetic separation,
manual sorting and diamond weighing and description. SGS Lakefield Research is
accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as
a testing laboratory for specific tests.
Senior Vice President Exploration, George Read, Professional Geoscientist
in the Provinces of Saskatchewan and British Columbia, is the Qualified Person
responsible for the verification and quality assurance of analytical results.
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Exchange under the trading symbol "SGF".
/For further information: please contact Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or George H. Read, P. Geo., Vice President Exploration at (306) 664-2202/
14:18 EDT Thursday, May 12, 2005
Stock Symbol: SGF: TSX
SASKATOON, May 12 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce the fourteenth and final set of diamond recoveries from the bulk sample collected from the Star Kimberlite. The diamond recoveries total 4,048.81 carats from 27,836.54 dry tonnes processed. Included in this release are results for the final fourteen kimberlite batches of a total of 95 kimberlite batches that have been processed as part of the bulk sampling program on the Star Diamond Project. A total of 3,823 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 543.86 carats, has been recovered from the treatment of 3,288.23 dry tonnes of kimberlite. Eighty-three diamonds greater than one carat have been recovered and the four largest stones are: 12.19, 8.50, 6.18 and 5.73 carats, respectively. In addition, 390 diamonds (6.11 carats) were recovered down to 0.85 millimetre square mesh. The colour of 57 percent of these diamonds has been classified as white, with a further 14 percent classified as off-white.
Eleven of the kimberlite batches (of a total of 95 processed) have been mined from the Southeast drive (Batches 65, 66, 68, 70, 71, 72, 75, 76 and 77) and the North drive (Batches 67 and 69) developed from the 235 metre shaft station. All kimberlite batches (except 72 and 74) have been recovered from within the Early Joli Fou equivalent kimberlite. Batch 72 was recovered from the drill station prepared at the west end of the South 3 drift (close to the property boundary) and is finer grained material which probably represents the Late Joli Fou Kimberlite feeder vent. This accounts for the lower grade of Batch 72. Batch 74 consists of material scraped from the surface of the kimberlite stockpile areas and the low grade of this batch results from dilution of the kimberlite by surface sand. Batch 73 represents kimberlite mined from the 235 metre level that has been spilled down the shaft and was mucked from the base of the shaft at the end of bulk sample mining.
Kimberlite processed and diamond results for fourteen sample batches are listed in the table below.
-------------------------------------------------------------------------
Diamonds
Location Number Largest
Batch (metres below Dry of Total Grade Stone
No. surface) Tonnes Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
65 235 m Level: SE drive 310.73 433 46.78 15.05 3.42
-------------------------------------------------------------------------
66 235 m Level: SE drive 402.90 653 72.91 18.10 2.79
-------------------------------------------------------------------------
67 235 m Level: N drive 237.72 344 45.67 19.21 3.75
-------------------------------------------------------------------------
68 235 m Level: SE drive 269.31 331 56.06 20.82 8.50
-------------------------------------------------------------------------
69 235 m Level: N drive 126.10 131 19.07 15.12 2.40
-------------------------------------------------------------------------
70 235 m Level: SE drive 63.82 75 9.15 14.34 1.48
-------------------------------------------------------------------------
71 235 m Level: SE drive 125.10 153 14.00 11.19 1.48
-------------------------------------------------------------------------
72 235 m Level: SE drive 126.05 86 6.61 5.25 0.66
-------------------------------------------------------------------------
73 Shaft Bottom Clean-up 278.73 235 37.53 13.46 4.84
-------------------------------------------------------------------------
74 Surface Stockpile Clean-up 201.94 64 6.59 3.26 0.70
-------------------------------------------------------------------------
75 235 m Level: SE drive 387.03 548 57.91 14.96 1.87
-------------------------------------------------------------------------
76 235 m Level: SE drive 440.89 736 103.21 23.41 6.18
-------------------------------------------------------------------------
77 235 m Level: SE drive 205.03 286 57.69 28.14 12.19
-------------------------------------------------------------------------
78 Underground Drift Clean-up 112.88 137 16.79 14.87 2.26
-------------------------------------------------------------------------
Total 3,288.23 4,212 549.97 16.73
-------------------------------------------------------------------------
Grades are expressed in carats per hundred tonnes (cpht).
The four largest stones are: 12.19 (Batch 77, White), 8.50 (Batch 68, Off
White), 6.18 (Batch 76, Off White) and 5.73 (Batch 77, Grey) carats,
respectively. Nineteen diamonds exceed two carats and 83 diamonds exceed one
carat, of which 28 are white, 23 are off-white, 25 are grey, 5 are brown and 2
are yellow. A total of 200 diamonds exceed 0.5 carat. Fifty-seven percent of
this diamond parcel is classified white in colour, with a further 11 percent
classified as off-white. The diamond parcel includes 8 yellow, 6 pink, and 12
amber stones. Ninety-nine percent of the carat weight of this parcel occurs in
diamonds greater than 1.18 millimetre square mesh.
Senior Vice President Exploration, George Read, states: "Shore Gold has
successfully completed the bulk sampling of the Star Kimberlite using a shaft
and associated lateral drifts to produce a total of 27,837 dry tonnes of
kimberlite. On-site kimberlite processing and final diamond recovery at
SGS Lakefield has resulted in a diamond parcel totaling 4,048.81 carats.
Diamond valuation, completed on the first 3,050 carats of this diamond parcel,
reported a modeled value of US$135 per carat. The positive characteristics of
the diamond parcel include a significant proportion of white goods (including
top quality whites), many large diamonds (up to 19.67 carats), rare coated
diamonds and a low proportion of brown and boart. Statistical analysis of the
diamond population size distribution suggests the potential for diamonds in
excess of 100 carats from the Star Kimberlite. The positive results of this
bulk sampling project, combined with the current favourable financial position
of the Company opens the way for the commencement of a prefeasibility study on
the Star Diamond Project. Details of the pre-feasibility study will follow
shortly in a separate news release."
The diamond recovery procedure included on site processing of kimberlite
through the modular dense media separator (DMS), after which DMS concentrates
were batch fed through an X-ray Flow-sort. In order to ensure the recovery of
low luminosity diamonds, the Flow-sort tailings are processed over a grease
table. Flow-sort and grease table concentrates were transported by a secure
carrier to SGS Lakefield Research for final diamond recovery. The SGS
Lakefield Research process included drying, screening, magnetic separation,
manual sorting and diamond weighing and description. SGS Lakefield Research is
accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as
a testing laboratory for specific tests.
Senior Vice President Exploration, George Read, Professional Geoscientist
in the Provinces of Saskatchewan and British Columbia, is the Qualified Person
responsible for the verification and quality assurance of analytical results.
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Exchange under the trading symbol "SGF".
/For further information: please contact Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or George H. Read, P. Geo., Vice President Exploration at (306) 664-2202/
