Post by Franko10 ™ on May 20, 2005 6:05:51 GMT -5
Star Diamond Project $43 million prefeasibility study commenced (cnw)
Stock Symbol: SGF: TSX
SASKATOON, SK, May 19 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce that the prefeasibility study on the Star Diamond Project has commenced with additional underground bulk sampling. The prefeasibility study on Star, with a budget of approximately $43 million, is now the largest work program outlined for any of the Fort a la Corne kimberlites. The aim of the prefeasibility study is to define a National Instrument 43-101 compliant mineral reserve for the Star Kimberlite.
The principal components of the prefeasibility study include the extraction of an additional 10,000 tonnes of kimberlite from the underground workings on the 235 metre level, surface core and large diameter drilling, the definition of a mineral resource and the engineering studies required to define a mineral reserve. Also included in the prefeasibility study will be an airborne laser survey for accurate topographic mapping of the site, kimberlite and country rock test work, three dimensional modeling, grade estimation, block model construction, mine and plant design and an environmental impact assessment. The current time line indicates that the prefeasibility study will take some 30 months to complete and is structured in such a way that Shore will be able to fast track the feasibility study immediately thereafter.
The additional 10,000 tonnes of kimberlite is required to significantly increase the diamond parcel so that the diamond grade and value statistics can be more rigorously constrained. Some 1,500 metres of BQ drilling has been completed in 19 holes ahead of underground development to the south and north of the bulk sample drifts on the 235 metre level. Drilling to the south of the underground workings has intersected coarse macrocrystic kimberlite containing frequent peridotite and eclogite xenoliths. Extraction of kimberlite has commenced and approximately 1,500 tonnes have been hauled to surface.
The 10,000 tonnes of kimberlite recovered from the underground workings will be processed through Shore's on-site DMS plant and the final diamond recovery will be completed at SGS Lakefield in the same manner as the bulk sample. On-site processing of kimberlite from the underground workings is scheduled to commence in late June as it is necessary to generate a stockpile of kimberlite prior to the commencement of processing. During the next month the plant will be upgraded to run continuously through the addition of a third crusher. Previously, the plus 6 millimetre low density material was processed as a separate re-crush feed during the processing of the bulk sample. The top size of the DMS feed will be increased from 16 to 20 millimetres to accommodate the recovery of larger diamonds. There will be a regular series of news releases documenting diamond results, as they become available.
The details of the surface core and large diameter drilling (LDD) programs will be announced once all contracts have been finalized.
Senior Vice President Exploration, George Read, states: "Shore Gold aims to aggressively and efficiently advance the prefeasibility study in order to prove an economic mineral reserve on the Star Kimberlite and thus realize value for our shareholders."
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: Kenneth E. MacNeill, President & C.E.O., George Sanders, Vice President Corporate Development, or George H. Read, P. Geo., Vice President Exploration, (306) 664-2202/
Stock Symbol: SGF: TSX
SASKATOON, SK, May 19 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration, is pleased to announce that the prefeasibility study on the Star Diamond Project has commenced with additional underground bulk sampling. The prefeasibility study on Star, with a budget of approximately $43 million, is now the largest work program outlined for any of the Fort a la Corne kimberlites. The aim of the prefeasibility study is to define a National Instrument 43-101 compliant mineral reserve for the Star Kimberlite.
The principal components of the prefeasibility study include the extraction of an additional 10,000 tonnes of kimberlite from the underground workings on the 235 metre level, surface core and large diameter drilling, the definition of a mineral resource and the engineering studies required to define a mineral reserve. Also included in the prefeasibility study will be an airborne laser survey for accurate topographic mapping of the site, kimberlite and country rock test work, three dimensional modeling, grade estimation, block model construction, mine and plant design and an environmental impact assessment. The current time line indicates that the prefeasibility study will take some 30 months to complete and is structured in such a way that Shore will be able to fast track the feasibility study immediately thereafter.
The additional 10,000 tonnes of kimberlite is required to significantly increase the diamond parcel so that the diamond grade and value statistics can be more rigorously constrained. Some 1,500 metres of BQ drilling has been completed in 19 holes ahead of underground development to the south and north of the bulk sample drifts on the 235 metre level. Drilling to the south of the underground workings has intersected coarse macrocrystic kimberlite containing frequent peridotite and eclogite xenoliths. Extraction of kimberlite has commenced and approximately 1,500 tonnes have been hauled to surface.
The 10,000 tonnes of kimberlite recovered from the underground workings will be processed through Shore's on-site DMS plant and the final diamond recovery will be completed at SGS Lakefield in the same manner as the bulk sample. On-site processing of kimberlite from the underground workings is scheduled to commence in late June as it is necessary to generate a stockpile of kimberlite prior to the commencement of processing. During the next month the plant will be upgraded to run continuously through the addition of a third crusher. Previously, the plus 6 millimetre low density material was processed as a separate re-crush feed during the processing of the bulk sample. The top size of the DMS feed will be increased from 16 to 20 millimetres to accommodate the recovery of larger diamonds. There will be a regular series of news releases documenting diamond results, as they become available.
The details of the surface core and large diameter drilling (LDD) programs will be announced once all contracts have been finalized.
Senior Vice President Exploration, George Read, states: "Shore Gold aims to aggressively and efficiently advance the prefeasibility study in order to prove an economic mineral reserve on the Star Kimberlite and thus realize value for our shareholders."
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: Kenneth E. MacNeill, President & C.E.O., George Sanders, Vice President Corporate Development, or George H. Read, P. Geo., Vice President Exploration, (306) 664-2202/