Post by Zoinkers on May 23, 2006 4:10:03 GMT -5
Press Release Source: Shore Gold Inc.
Star Diamond Project: Diamond Results 6.37, 5.86 and 5.25 Carat Diamonds in 558 Carat Parcel
Friday May 12, 5:04 pm ET
Stock Symbol: SGF: TSX
SASKATOON, SK, May 12 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the ninth and last set of diamond results from Phase 2 of the underground bulk sample (Phase 1 is the original 25,000 tonne bulk sample) collected from the Star Kimberlite as part of the prefeasibility study. The diamond recoveries total 557.69 carats from 4,133.54 dry tonnes processed. Included in this release are results for sixteen kimberlite batches of a total of 75 kimberlite batches that have been processed as part of the Phase 2 bulk sampling program. A total of 3,573 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 556.64 carats, has been recovered from the sixteen batches. Seventy-six diamonds greater than one carat have been recovered and the four largest stones are: 6.37, 5.86, 5.25 and 4.80 carats, respectively. In addition, fifty-nine diamonds (1.05 carats) were recovered down to 0.85 millimetre square mesh. The colour of 65 percent of the diamonds has been classified as white, with a further 16 percent classified as off-white. These results conclude Phase 2 of the underground bulk sampling on Star, which totals 18,272 tonnes of kimberlite from which 19,918 diamonds weighing 3,016 carats have been recovered.
ADVERTISEMENT
Thirteen of these kimberlite batches have been recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 136, 139, 140, 141, 142, 143, 144, 146, 147 and 148) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 137, 138 and 145). Batches 149, 150 and 151 represent a clean up of all loose kimberlite in active drifts at the end of Phase 2. The grades of Batches 137 and 140 have been lowered by localized country rock mudstone dilution. This is caused by occasional mudstone xenoliths, from the country-rock, that have fallen into the kimberlite.
Kimberlite processed and diamond results for the sixteen sample batches are listed in the table below. Grades are expressed in carats per hundred tonnes (cpht).
-------------------------------------------------------------------------
Diamonds Largest
Batch Number of Total Grade Stone
No. Location Dry Tonnes Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
136 SOUTH 12
BENCH 25.60 25 4.39 17.15 1.75
-------------------------------------------------------------------------
137 SOUTH 16E 323.27 268 44.80 13.86 6.37
-------------------------------------------------------------------------
138 SOUTH 16C 350.18 235 35.60 10.17 2.95
-------------------------------------------------------------------------
139 SOUTH 8E 320.99 273 52.64 16.40 3.34
-------------------------------------------------------------------------
140 SOUTH 5C 181.00 104 12.99 7.18 0.94
-------------------------------------------------------------------------
141 SOUTH MAIN
SLASH 261.86 286 35.96 13.73 0.89
-------------------------------------------------------------------------
142 SOUTH MAIN
SLASH 202.42 195 29.17 14.41 5.86
-------------------------------------------------------------------------
143 SOUTH MAIN 296.59 230 43.31 14.60 4.26
-------------------------------------------------------------------------
144 SOUTH MAIN 358.30 320 50.00 13.95 2.56
-------------------------------------------------------------------------
145 SOUTH 16A 310.00 346 41.42 13.36 2.73
-------------------------------------------------------------------------
146 SOUTH MAIN
SLASH B 227.70 255 36.76 16.14 2.69
-------------------------------------------------------------------------
147 SOUTH 8
DDST 1 95.33 86 16.44 17.24 3.19
-------------------------------------------------------------------------
148 SOUTH 13C 322.79 304 43.12 13.36 4.80
-------------------------------------------------------------------------
149 DRIFT
CLEAN-UP
No. 1 95.23 90 13.77 14.46 2.48
-------------------------------------------------------------------------
150 DRIFT
CLEAN-UP
No. 2 319.08 287 48.29 15.13 4.02
-------------------------------------------------------------------------
151 DRIFT
CLEAN-UP
No. 3 443.20 328 49.03 11.06 5.25
-------------------------------------------------------------------------
Total 4,133.54 3,632 557.69 13.49
-------------------------------------------------------------------------
The four largest stones are: 6.37 (Batch 137, White), 5.86 (Batch 142, Off
white), 5.25 (Batch 151, Grey) and 4.80 (Batch 148, Off white) carats,
respectively. Twenty-eight diamonds exceed two carats and 76 diamonds exceed
one carat, of which 36 are white, 22 are off-white, 10 are grey, 7 are brown
and 1 is yellow. A total of 200 diamonds exceed 0.5 carat. Sixty-five percent
of this diamond parcel is classified white in colour, with a further 16
percent classified as off-white. The diamond parcel includes 5 pink stones,
6 yellow stones and 2 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 and Development, George Read, states:
"On-site processing of all batches of Phase 2 (Batches 79 - 151) of the
underground bulk sampling has been completed resulting in an average grade of
16.51 cpht which compares to an average grade of 16.03 cpht for Phase 1
(Batches 1 - 78). The diamond populations seen in Phase 2 continue to show
coarse size frequency distributions. Phase 3 of the underground development,
which will include bulk sampling of the Cantuar and Pense Kimberlite, is
underway. Twelve geotechnical drill holes have been completed in the South 11
Drift and the rig has been moved to South 9 for additional drilling prior to
drift development into the Cantuar Kimberlite. The first five 120 metre holes
have been completed from the drill station on South 16 out to the Pense
Kimberlite. A fan of holes will be completed from this drill station prior to
drift development to bulk sample the Pense. 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 diamond recovery procedure includes on-site processing of kimberlite
through the modular Dense Media Separator (DMS), after which DMS concentrates
are 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 are transported by a secure
carrier to SGS Lakefield Research for final diamond recovery. The SGS
Lakefield Research process includes 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.
The prefeasibility study on Star, with a budget 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
Vice President 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 the United States Private
Securities Litigation Reform Act of 1995. Shore may make such statements in
this press release, in other filings with Canadian regulators or the United
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.
--------------------------------------------------------------------------------
Source: Shore Gold Inc.
Star Diamond Project: Diamond Results 6.37, 5.86 and 5.25 Carat Diamonds in 558 Carat Parcel
Friday May 12, 5:04 pm ET
Stock Symbol: SGF: TSX
SASKATOON, SK, May 12 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the ninth and last set of diamond results from Phase 2 of the underground bulk sample (Phase 1 is the original 25,000 tonne bulk sample) collected from the Star Kimberlite as part of the prefeasibility study. The diamond recoveries total 557.69 carats from 4,133.54 dry tonnes processed. Included in this release are results for sixteen kimberlite batches of a total of 75 kimberlite batches that have been processed as part of the Phase 2 bulk sampling program. A total of 3,573 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 556.64 carats, has been recovered from the sixteen batches. Seventy-six diamonds greater than one carat have been recovered and the four largest stones are: 6.37, 5.86, 5.25 and 4.80 carats, respectively. In addition, fifty-nine diamonds (1.05 carats) were recovered down to 0.85 millimetre square mesh. The colour of 65 percent of the diamonds has been classified as white, with a further 16 percent classified as off-white. These results conclude Phase 2 of the underground bulk sampling on Star, which totals 18,272 tonnes of kimberlite from which 19,918 diamonds weighing 3,016 carats have been recovered.
ADVERTISEMENT
Thirteen of these kimberlite batches have been recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 136, 139, 140, 141, 142, 143, 144, 146, 147 and 148) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 137, 138 and 145). Batches 149, 150 and 151 represent a clean up of all loose kimberlite in active drifts at the end of Phase 2. The grades of Batches 137 and 140 have been lowered by localized country rock mudstone dilution. This is caused by occasional mudstone xenoliths, from the country-rock, that have fallen into the kimberlite.
Kimberlite processed and diamond results for the sixteen sample batches are listed in the table below. Grades are expressed in carats per hundred tonnes (cpht).
-------------------------------------------------------------------------
Diamonds Largest
Batch Number of Total Grade Stone
No. Location Dry Tonnes Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
136 SOUTH 12
BENCH 25.60 25 4.39 17.15 1.75
-------------------------------------------------------------------------
137 SOUTH 16E 323.27 268 44.80 13.86 6.37
-------------------------------------------------------------------------
138 SOUTH 16C 350.18 235 35.60 10.17 2.95
-------------------------------------------------------------------------
139 SOUTH 8E 320.99 273 52.64 16.40 3.34
-------------------------------------------------------------------------
140 SOUTH 5C 181.00 104 12.99 7.18 0.94
-------------------------------------------------------------------------
141 SOUTH MAIN
SLASH 261.86 286 35.96 13.73 0.89
-------------------------------------------------------------------------
142 SOUTH MAIN
SLASH 202.42 195 29.17 14.41 5.86
-------------------------------------------------------------------------
143 SOUTH MAIN 296.59 230 43.31 14.60 4.26
-------------------------------------------------------------------------
144 SOUTH MAIN 358.30 320 50.00 13.95 2.56
-------------------------------------------------------------------------
145 SOUTH 16A 310.00 346 41.42 13.36 2.73
-------------------------------------------------------------------------
146 SOUTH MAIN
SLASH B 227.70 255 36.76 16.14 2.69
-------------------------------------------------------------------------
147 SOUTH 8
DDST 1 95.33 86 16.44 17.24 3.19
-------------------------------------------------------------------------
148 SOUTH 13C 322.79 304 43.12 13.36 4.80
-------------------------------------------------------------------------
149 DRIFT
CLEAN-UP
No. 1 95.23 90 13.77 14.46 2.48
-------------------------------------------------------------------------
150 DRIFT
CLEAN-UP
No. 2 319.08 287 48.29 15.13 4.02
-------------------------------------------------------------------------
151 DRIFT
CLEAN-UP
No. 3 443.20 328 49.03 11.06 5.25
-------------------------------------------------------------------------
Total 4,133.54 3,632 557.69 13.49
-------------------------------------------------------------------------
The four largest stones are: 6.37 (Batch 137, White), 5.86 (Batch 142, Off
white), 5.25 (Batch 151, Grey) and 4.80 (Batch 148, Off white) carats,
respectively. Twenty-eight diamonds exceed two carats and 76 diamonds exceed
one carat, of which 36 are white, 22 are off-white, 10 are grey, 7 are brown
and 1 is yellow. A total of 200 diamonds exceed 0.5 carat. Sixty-five percent
of this diamond parcel is classified white in colour, with a further 16
percent classified as off-white. The diamond parcel includes 5 pink stones,
6 yellow stones and 2 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 and Development, George Read, states:
"On-site processing of all batches of Phase 2 (Batches 79 - 151) of the
underground bulk sampling has been completed resulting in an average grade of
16.51 cpht which compares to an average grade of 16.03 cpht for Phase 1
(Batches 1 - 78). The diamond populations seen in Phase 2 continue to show
coarse size frequency distributions. Phase 3 of the underground development,
which will include bulk sampling of the Cantuar and Pense Kimberlite, is
underway. Twelve geotechnical drill holes have been completed in the South 11
Drift and the rig has been moved to South 9 for additional drilling prior to
drift development into the Cantuar Kimberlite. The first five 120 metre holes
have been completed from the drill station on South 16 out to the Pense
Kimberlite. A fan of holes will be completed from this drill station prior to
drift development to bulk sample the Pense. 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 diamond recovery procedure includes on-site processing of kimberlite
through the modular Dense Media Separator (DMS), after which DMS concentrates
are 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 are transported by a secure
carrier to SGS Lakefield Research for final diamond recovery. The SGS
Lakefield Research process includes 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.
The prefeasibility study on Star, with a budget 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
Vice President 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 the United States Private
Securities Litigation Reform Act of 1995. Shore may make such statements in
this press release, in other filings with Canadian regulators or the United
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.
--------------------------------------------------------------------------------
Source: Shore Gold Inc.