Owner
Post by Franko10 ™ on Apr 11, 2006 10:50:35 GMT -5
Star Diamond Project: Phase 3 bulk sampling and infill surface drilling underway (cnw)
Stock Symbol: SGF: TSX
SASKATOON, April 11 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce that Phase 3 of the underground bulk sampling and a surface program of infill core drilling have commenced on theStar Diamond Project. All surface and underground exploration activities on Star are fully permitted until March 31, 2007.
Star Geology
Detailed core logging and underground mapping, combined with kimberlite whole rock geochemistry and downhole geophysical logging, have enabled Shore geologists to define five principal kimberlite phases within the Star Kimberlite, namely: Cantuar, Pense, Early Joli Fou (EJF), Mid Joli Fou (MJF) and Late Joli Fou (LJF). Two major lithologies have been identified within the EJF: EJF-Pyroclastic Kimberlite (EJF-PK) and EJF-Kimberlite Breccia (EJF-KB). These two lithologies occur as alternating units throughout the EJF and present estimates suggest that the EJF bulk sample consists of 70 percent EJF-PK and 30 percent EJF-KB. Detailed underground mapping and whole rock geochemistry have enabled Shore geologists to assign individual kimberlite batches of Phase 1 (original 25,000 tonnes) and Phase 2 (additional 17,000 tonnes) bulk samples to specific kimberlite phases. The following table details the tonnages processed, carats and stones recovered and calculated grade for each of the five kimberlite phases.
<<
-------------------------------------------------------------------------
Kimberlite Tonnes Carats Stones Grade
Processed Recovered Recovered (cpht)
-------------------------------------------------------------------------
LJF 724 21 292 3
-------------------------------------------------------------------------
MJF 3,494 207 2,122 6
-------------------------------------------------------------------------
EJF (1) 32,181 5,696 43,278 18
-------------------------------------------------------------------------
Pense 0 0 0 0
-------------------------------------------------------------------------
Cantuar 2,796 572 4,349 20
-------------------------------------------------------------------------
Clean-up (2) 183 7 64 4
-------------------------------------------------------------------------
Total 39,378 6,503 50,105 17
-------------------------------------------------------------------------
(1) The alternating nature of the EJF-PK and EJF-KB makes separate bulk
sampling of these units impractical and the EJF-PK and EJF-KB are
often sampled together. However, based on sample results to date,
there are significant $ per carat price and grade differences between
the EJF-PK and EJF-KB and the identification of these differences is
important for resource estimation purposes. In instances where these
lithologies could be separated in the underground drifting, the
EJF-PK and EJF-KB were bulk sampled separately and the results were
as follows:
-------------------------------------------------------------------------
Kimberlite Tonnes Carats Stones Grade
Sub-Type Processed Recovered Recovered (cpht)
-------------------------------------------------------------------------
EJF-PK 19,132 2,999 27,306 16
-------------------------------------------------------------------------
EJF-KB 9,338 1,993 12,034 21
-------------------------------------------------------------------------
EJF-KB & PK Mixed 3,711 704 3,938 19
-------------------------------------------------------------------------
EJF-Total 32,181 5,696 43,278 18
-------------------------------------------------------------------------
(2) The Clean-up material comes from the base of the shaft in addition to
a clean up of the surface stockpile areas. This material has
approximately 80 percent dilution by sand.
>>
Phase 3 Underground
Surface core drilling completed as part of the prefeasibility study has shown that a significant volume of coarse macrocrystic Pense Kimberlite occurs beneath the EJF some 200 metres east of the shaft. Detailed underground mapping and surface core drilling have shown that a substantial volume of Cantuar Kimberlite underlies the EJF to the southwest of the shaft, toward the ends of lateral drifts South 9 and South 11. Many Cantuar and Pense core intersections exhibit coarse olivine macrocrysts and abundant mantle minerals and xenoliths (eclogite and peridotite), minerals and textures that are typical of highly prospective kimberlites. Consequently Shore geologists consider the Cantuar and Pense as prospective kimberlites that can significantly impact the future economics of theStar Diamond Project. Phase 3 of underground bulk sampling has been initiated to collect representative samples of the Cantuar, Pense and MJF Kimberlites from which well constrained grades and values can not yet be determined due to the limited number of carats recovered to date. Underground geotechnical drilling (NQ core) is underway from a drill station at the end of drift South 11 into the Cantuar Kimberlite. Drift South 11 will be further developed into the Cantuar as soon as the geotechnical drilling has been completed.
A ramp has been prepared (South 16) from the 235 metre level to the 215 metre level to enable eastwards development to the Pense Kimberlite. The area of this drift has been investigated with geotechnical core drilling which includes nine holes arranged in a fan out to 110 metres. To date, 93 metres of eastwards drift development has been completed and miners are currently establishing a drill station at the end of this drift. Geotechnical core drilling to the Pense will precede eastward development beyond the 93 metre drill station. It is anticipated that Pense Kimberlite will be intersected by drifting in May.
Limited intersections of MJF have been encountered at the westward extremities of the drifts South 3 and South 3-2. Recovery of additional MJF Kimberlite is required to augment the MJF diamond parcel for future valuation for accurate mineral resource definition. Present estimates suggest that most of the MJF occurs withinStar West (the portion of the Star Kimberlite overlapping onto the Fort a la Corne Joint Venture - FALC-JV) and that the extraction of a significantly large bulk sample would require westward development into the FALC-JV. While additional sampling of the MJF is included in Phase 3 of the underground development, sampling within the FALC-JV is under consideration among the joint venture partners and cannot proceed at present.
Infill Core Drilling
The prefeasibility study on Star includes a pattern core drilling program which aims to define the size, shape and internal structure of the kimberlite. To date some 30,000 metres of PQ core (75 millimetre) drilling has been completed in a total of 125 holes drilled at 100 metre spacings on the central, thick part of the kimberlite and 200 metre spacings on the thinner periphery. The detailed core logging, geotechnical, geophysical, geochemical and ore dressing information measured on the core is currently being audited prior to the development of a three dimensional geological model using Gemcom software. A program of infill core drilling, which includes some 30 holes, has commenced. Ten PQ core holes are planned for the vicinity of the ravine some 600 metres east of the shaft. The aim of these holes is to fill in a gap in the delineation data and locate a possible Pense feeder vent. Six PQ core holes will be drilled on the east side of Star (east of the ravine) in order to define kimberlite volumes in this region. Fourteen NQ core holes are planned for the base of the ravine using a Nodwell mounted NQ core rig. The light footprint of this Nodwell mounted rig will minimize the environmental impact of drilling in the ravine.
Senior Vice President Exploration and Development, George Read, states: "Phase 3 of the underground bulk sampling targets the significantly prospective Cantuar and Pense Kimberlites. Diamond results from these kimberlite phases will be published as they become available and further Cantuar results are anticipated in the month of May, while the initial Pense results will follow in June. However, in the interim the on-site plant will be used to process the mini-bulk samples generated by the large diameter drilling (LDD) program. The collection of prefeasibility data which will be used to determine the presence of a National Instrument 43-101 compliant Mineral Resource is proceeding on schedule."
The prefeasibility study on Star, with an increased budget to accommodate the Phase 3 underground and infill drilling work of approximately$60 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. Senior VicePresident Exploration and Development, 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".
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and theUnited States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or theUnited States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or the anticipated results of Shore's pre-feasibility study or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners; the effects of competition in the markets in which Shore operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
For further information: Kenneth E. MacNeill, President & C.E.O.; George H. Read, P. Geo., Senior Vice President Exploration and Development or Pieter Du Plessis, Vice President Exploration at (306) 664-2202
Stock Symbol: SGF: TSX
SASKATOON, April 11 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce that Phase 3 of the underground bulk sampling and a surface program of infill core drilling have commenced on theStar Diamond Project. All surface and underground exploration activities on Star are fully permitted until March 31, 2007.
Star Geology
Detailed core logging and underground mapping, combined with kimberlite whole rock geochemistry and downhole geophysical logging, have enabled Shore geologists to define five principal kimberlite phases within the Star Kimberlite, namely: Cantuar, Pense, Early Joli Fou (EJF), Mid Joli Fou (MJF) and Late Joli Fou (LJF). Two major lithologies have been identified within the EJF: EJF-Pyroclastic Kimberlite (EJF-PK) and EJF-Kimberlite Breccia (EJF-KB). These two lithologies occur as alternating units throughout the EJF and present estimates suggest that the EJF bulk sample consists of 70 percent EJF-PK and 30 percent EJF-KB. Detailed underground mapping and whole rock geochemistry have enabled Shore geologists to assign individual kimberlite batches of Phase 1 (original 25,000 tonnes) and Phase 2 (additional 17,000 tonnes) bulk samples to specific kimberlite phases. The following table details the tonnages processed, carats and stones recovered and calculated grade for each of the five kimberlite phases.
<<
-------------------------------------------------------------------------
Kimberlite Tonnes Carats Stones Grade
Processed Recovered Recovered (cpht)
-------------------------------------------------------------------------
LJF 724 21 292 3
-------------------------------------------------------------------------
MJF 3,494 207 2,122 6
-------------------------------------------------------------------------
EJF (1) 32,181 5,696 43,278 18
-------------------------------------------------------------------------
Pense 0 0 0 0
-------------------------------------------------------------------------
Cantuar 2,796 572 4,349 20
-------------------------------------------------------------------------
Clean-up (2) 183 7 64 4
-------------------------------------------------------------------------
Total 39,378 6,503 50,105 17
-------------------------------------------------------------------------
(1) The alternating nature of the EJF-PK and EJF-KB makes separate bulk
sampling of these units impractical and the EJF-PK and EJF-KB are
often sampled together. However, based on sample results to date,
there are significant $ per carat price and grade differences between
the EJF-PK and EJF-KB and the identification of these differences is
important for resource estimation purposes. In instances where these
lithologies could be separated in the underground drifting, the
EJF-PK and EJF-KB were bulk sampled separately and the results were
as follows:
-------------------------------------------------------------------------
Kimberlite Tonnes Carats Stones Grade
Sub-Type Processed Recovered Recovered (cpht)
-------------------------------------------------------------------------
EJF-PK 19,132 2,999 27,306 16
-------------------------------------------------------------------------
EJF-KB 9,338 1,993 12,034 21
-------------------------------------------------------------------------
EJF-KB & PK Mixed 3,711 704 3,938 19
-------------------------------------------------------------------------
EJF-Total 32,181 5,696 43,278 18
-------------------------------------------------------------------------
(2) The Clean-up material comes from the base of the shaft in addition to
a clean up of the surface stockpile areas. This material has
approximately 80 percent dilution by sand.
>>
Phase 3 Underground
Surface core drilling completed as part of the prefeasibility study has shown that a significant volume of coarse macrocrystic Pense Kimberlite occurs beneath the EJF some 200 metres east of the shaft. Detailed underground mapping and surface core drilling have shown that a substantial volume of Cantuar Kimberlite underlies the EJF to the southwest of the shaft, toward the ends of lateral drifts South 9 and South 11. Many Cantuar and Pense core intersections exhibit coarse olivine macrocrysts and abundant mantle minerals and xenoliths (eclogite and peridotite), minerals and textures that are typical of highly prospective kimberlites. Consequently Shore geologists consider the Cantuar and Pense as prospective kimberlites that can significantly impact the future economics of theStar Diamond Project. Phase 3 of underground bulk sampling has been initiated to collect representative samples of the Cantuar, Pense and MJF Kimberlites from which well constrained grades and values can not yet be determined due to the limited number of carats recovered to date. Underground geotechnical drilling (NQ core) is underway from a drill station at the end of drift South 11 into the Cantuar Kimberlite. Drift South 11 will be further developed into the Cantuar as soon as the geotechnical drilling has been completed.
A ramp has been prepared (South 16) from the 235 metre level to the 215 metre level to enable eastwards development to the Pense Kimberlite. The area of this drift has been investigated with geotechnical core drilling which includes nine holes arranged in a fan out to 110 metres. To date, 93 metres of eastwards drift development has been completed and miners are currently establishing a drill station at the end of this drift. Geotechnical core drilling to the Pense will precede eastward development beyond the 93 metre drill station. It is anticipated that Pense Kimberlite will be intersected by drifting in May.
Limited intersections of MJF have been encountered at the westward extremities of the drifts South 3 and South 3-2. Recovery of additional MJF Kimberlite is required to augment the MJF diamond parcel for future valuation for accurate mineral resource definition. Present estimates suggest that most of the MJF occurs withinStar West (the portion of the Star Kimberlite overlapping onto the Fort a la Corne Joint Venture - FALC-JV) and that the extraction of a significantly large bulk sample would require westward development into the FALC-JV. While additional sampling of the MJF is included in Phase 3 of the underground development, sampling within the FALC-JV is under consideration among the joint venture partners and cannot proceed at present.
Infill Core Drilling
The prefeasibility study on Star includes a pattern core drilling program which aims to define the size, shape and internal structure of the kimberlite. To date some 30,000 metres of PQ core (75 millimetre) drilling has been completed in a total of 125 holes drilled at 100 metre spacings on the central, thick part of the kimberlite and 200 metre spacings on the thinner periphery. The detailed core logging, geotechnical, geophysical, geochemical and ore dressing information measured on the core is currently being audited prior to the development of a three dimensional geological model using Gemcom software. A program of infill core drilling, which includes some 30 holes, has commenced. Ten PQ core holes are planned for the vicinity of the ravine some 600 metres east of the shaft. The aim of these holes is to fill in a gap in the delineation data and locate a possible Pense feeder vent. Six PQ core holes will be drilled on the east side of Star (east of the ravine) in order to define kimberlite volumes in this region. Fourteen NQ core holes are planned for the base of the ravine using a Nodwell mounted NQ core rig. The light footprint of this Nodwell mounted rig will minimize the environmental impact of drilling in the ravine.
Senior Vice President Exploration and Development, George Read, states: "Phase 3 of the underground bulk sampling targets the significantly prospective Cantuar and Pense Kimberlites. Diamond results from these kimberlite phases will be published as they become available and further Cantuar results are anticipated in the month of May, while the initial Pense results will follow in June. However, in the interim the on-site plant will be used to process the mini-bulk samples generated by the large diameter drilling (LDD) program. The collection of prefeasibility data which will be used to determine the presence of a National Instrument 43-101 compliant Mineral Resource is proceeding on schedule."
The prefeasibility study on Star, with an increased budget to accommodate the Phase 3 underground and infill drilling work of approximately$60 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. Senior VicePresident Exploration and Development, 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".
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and theUnited States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or theUnited States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or the anticipated results of Shore's pre-feasibility study or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners; the effects of competition in the markets in which Shore operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
For further information: Kenneth E. MacNeill, President & C.E.O.; George H. Read, P. Geo., Senior Vice President Exploration and Development or Pieter Du Plessis, Vice President Exploration at (306) 664-2202
