Post by Zoinkers on Aug 1, 2006 13:50:09 GMT -5
Press Release Source: Shore Gold Inc.
Fort a la Corne joint venture 2005 microdiamond results identify highly prospective kimberlites
Tuesday June 13, 6:09 pm ET
Stock Symbol: SGF: TSX
SASKATOON, June 13 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the microdiamond assay results for the 2005 core drilling program of the Fort a la Corne Joint Venture (FALC-JV). These results include 10,328 microdiamonds recovered from a total 12.84 tonnes of kimberlite intersected in 140 HQ (63.5 millimetre) core holes in 18 bodies, which range from Star West in the southeast to Kimberlite 158, some 15 kilometres to the northwest. The microdiamonds recovered are summarized for each of the kimberlites in the following table:
-------------------------------------------------------------------------
Macrodiamonds
(greater
Core Holes Sample Mass Stones per than
Kimberlite Sampled (kg) Total Stones tonne 0.5 mm)
-------------------------------------------------------------------------
101 5 548.48 4 7 1
-------------------------------------------------------------------------
116 4 551.58 17 31 1
-------------------------------------------------------------------------
118 10 846.90 273 322 3
-------------------------------------------------------------------------
119 6 424.70 90 212 0
-------------------------------------------------------------------------
123 9 984.74 1,098 1,115 12
-------------------------------------------------------------------------
133 6 432.00 402 931 1
-------------------------------------------------------------------------
134 5 421.55 66 157 1
-------------------------------------------------------------------------
135 6 665.62 98 147 0
-------------------------------------------------------------------------
145 12 1,124.06 1,162 1,034 2
-------------------------------------------------------------------------
147 16 907.52 4,046 4,458 45
-------------------------------------------------------------------------
152 6 638.46 343 537 4
-------------------------------------------------------------------------
158 11 990.27 246 248 0
-------------------------------------------------------------------------
163 4 404.12 3 7 0
-------------------------------------------------------------------------
216 12 905.86 81 89 2
-------------------------------------------------------------------------
218 6 597.54 23 38 0
-------------------------------------------------------------------------
219 11 754.12 991 1,314 4
-------------------------------------------------------------------------
223 3 302.15 233 771 2
-------------------------------------------------------------------------
Star West 8 1,344.95 1,152 857 21
-------------------------------------------------------------------------
140 12,844.62 10,328 804 99
-------------------------------------------------------------------------
The microdiamonds were recovered from the core by the Saskatchewan Research Council (SRC) at their laboratory in Saskatoon, using caustic dissolution methods. The SRC recovered and reported diamonds down to a lower sieve cut-off of 0.075 millimetres. The macrodiamonds in the table are defined as stones with at least one dimension greater than 0.5 millimetre.
Shore geologists consider these microdiamond results early indicators of the true diamondiferous nature of the Fort a la Corne kimberlites and consider that the number of macrodiamonds and the stones per tonne are, at this exploration stage, the most important indicators of the more prospective kimberlites that require additional exploration work. Using these criteria, Kimberlites 123, 133, 145, 147, 219, 223 and Star West all show elevated stone per tonne values and have produced some macrodiamonds. The 2006 FALC-JV exploration program will focus on Star West and the Orion Cluster, which includes all of these higher interest kimberlites. Kimberlite 147, which forms a dominant part of Orion North, has returned the most interesting results of the program to date with the highest stone per tonne value (4,458 stones per tonne) and the most abundant macrodiamond population (45 macodiamonds in 0.90752 tonnes). Kimberlite 147 will be significantly tested with pattern core drilling and limited large diameter drilling (LDD) during the 2006 exploration program. The LDD program is specifically designed to recover additional macrodiamonds for grade estimation and valution prior to bulk sampling.
The total diamond recoveries per kimberlite for each square mesh sieve size from 0.075 to 1.18 millimetres are listed in the table below:
-------------------------------------------------------------------------
Sample
Kimber- Mass 0.075 0.106 0.15 0.212 0.3 0.425 0.6 0.85 1.18 Total
lite (kg) mm mm mm mm mm mm mm mm mm Stones
-------------------------------------------------------------------------
101 548.48 0 1 0 1 1 0 1 0 0 4
-------------------------------------------------------------------------
116 551.58 8 5 2 1 0 1 0 0 0 17
-------------------------------------------------------------------------
118 846.90 90 79 48 35 15 4 1 1 0 273
-------------------------------------------------------------------------
119 424.70 56 22 7 5 0 0 0 0 0 90
-------------------------------------------------------------------------
123 984.74 493 337 141 78 26 16 6 1 0 1,098
-------------------------------------------------------------------------
133 432.00 236 115 29 15 5 1 1 0 0 402
-------------------------------------------------------------------------
134 421.55 25 23 11 4 0 3 0 0 0 66
-------------------------------------------------------------------------
135 665.62 61 19 11 4 3 0 0 0 0 98
-------------------------------------------------------------------------
145 1,124.06 615 309 161 53 18 6 0 0 0 1,162
-------------------------------------------------------------------------
147 907.52 1,836 1,102 584 328 120 51 22 1 2 4,046
-------------------------------------------------------------------------
152 638.46 145 104 46 26 11 8 1 1 1 343
-------------------------------------------------------------------------
158 990.27 140 74 21 8 2 1 0 0 0 246
-------------------------------------------------------------------------
163 404.12 1 2 0 0 0 0 0 0 0 3
-------------------------------------------------------------------------
216 905.86 53 14 8 4 0 1 0 0 1 81
-------------------------------------------------------------------------
218 597.54 16 4 2 0 1 0 0 0 0 23
-------------------------------------------------------------------------
219 754.12 341 289 189 95 65 10 2 0 0 991
-------------------------------------------------------------------------
223 302.15 97 82 31 16 5 2 0 0 0 233
-------------------------------------------------------------------------
Star
West 1,344.95 542 303 142 92 41 17 10 3 2 1,152
-------------------------------------------------------------------------
12,844.62 4,755 2,884 1,433 765 313 121 44 7 6 10,328
-------------------------------------------------------------------------
These results by sieve class illustrate the encouraging size frequency distribution of the diamonds recovered from Kimberlite 147. In addition, Shore geologists believe that the microdiamond results for Star West in the above tables support the results achieved on the Star Diamond Project, where an overall average grade of 16 carats per hundred tonnes was obtained from macrodiamond bulk sampling, and are highly encouraged when comparing these results with Kimberlite 147.
Senior Vice President Exploration and Development, George Read, states: "These microdiamond results indicate the highly prospective nature of the northwest trending FALC-JV kimberlites from Star West to the north end of the Orion Cluster, particularly Kimberlite 147. Shore management and geologists are very encouraged by these results that confirm the targets selected for further investigation during the 2006 exploration program. Shore, through its wholly owned subsidiary Kensington Resources, looks forward to working with the other FALC-JV Participants, De Beers and Cameco, to ensure the thorough investigation and aggressive development of the Fort a la Corne kimberlites. It is Shore's/Kensington's aim to commence a prefeasibility study on selected high interest FALC-JV kimberlites on the shortest possible timeline."
The 2006 exploration program on the FALC-JV will commence immediately, is scheduled for completion by December 31, 2006 and has an approved budget of $43.2 million, which will be funded by the FALC-JV Participants in the following split: Kensington Resources Ltd (a wholly owned subsidiary of Shore Gold Inc.) (46.94%), De Beers Canada Inc. (46.94%) and Cameco Corporation (6.12%).
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.
Fort a la Corne joint venture 2005 microdiamond results identify highly prospective kimberlites
Tuesday June 13, 6:09 pm ET
Stock Symbol: SGF: TSX
SASKATOON, June 13 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the microdiamond assay results for the 2005 core drilling program of the Fort a la Corne Joint Venture (FALC-JV). These results include 10,328 microdiamonds recovered from a total 12.84 tonnes of kimberlite intersected in 140 HQ (63.5 millimetre) core holes in 18 bodies, which range from Star West in the southeast to Kimberlite 158, some 15 kilometres to the northwest. The microdiamonds recovered are summarized for each of the kimberlites in the following table:
-------------------------------------------------------------------------
Macrodiamonds
(greater
Core Holes Sample Mass Stones per than
Kimberlite Sampled (kg) Total Stones tonne 0.5 mm)
-------------------------------------------------------------------------
101 5 548.48 4 7 1
-------------------------------------------------------------------------
116 4 551.58 17 31 1
-------------------------------------------------------------------------
118 10 846.90 273 322 3
-------------------------------------------------------------------------
119 6 424.70 90 212 0
-------------------------------------------------------------------------
123 9 984.74 1,098 1,115 12
-------------------------------------------------------------------------
133 6 432.00 402 931 1
-------------------------------------------------------------------------
134 5 421.55 66 157 1
-------------------------------------------------------------------------
135 6 665.62 98 147 0
-------------------------------------------------------------------------
145 12 1,124.06 1,162 1,034 2
-------------------------------------------------------------------------
147 16 907.52 4,046 4,458 45
-------------------------------------------------------------------------
152 6 638.46 343 537 4
-------------------------------------------------------------------------
158 11 990.27 246 248 0
-------------------------------------------------------------------------
163 4 404.12 3 7 0
-------------------------------------------------------------------------
216 12 905.86 81 89 2
-------------------------------------------------------------------------
218 6 597.54 23 38 0
-------------------------------------------------------------------------
219 11 754.12 991 1,314 4
-------------------------------------------------------------------------
223 3 302.15 233 771 2
-------------------------------------------------------------------------
Star West 8 1,344.95 1,152 857 21
-------------------------------------------------------------------------
140 12,844.62 10,328 804 99
-------------------------------------------------------------------------
The microdiamonds were recovered from the core by the Saskatchewan Research Council (SRC) at their laboratory in Saskatoon, using caustic dissolution methods. The SRC recovered and reported diamonds down to a lower sieve cut-off of 0.075 millimetres. The macrodiamonds in the table are defined as stones with at least one dimension greater than 0.5 millimetre.
Shore geologists consider these microdiamond results early indicators of the true diamondiferous nature of the Fort a la Corne kimberlites and consider that the number of macrodiamonds and the stones per tonne are, at this exploration stage, the most important indicators of the more prospective kimberlites that require additional exploration work. Using these criteria, Kimberlites 123, 133, 145, 147, 219, 223 and Star West all show elevated stone per tonne values and have produced some macrodiamonds. The 2006 FALC-JV exploration program will focus on Star West and the Orion Cluster, which includes all of these higher interest kimberlites. Kimberlite 147, which forms a dominant part of Orion North, has returned the most interesting results of the program to date with the highest stone per tonne value (4,458 stones per tonne) and the most abundant macrodiamond population (45 macodiamonds in 0.90752 tonnes). Kimberlite 147 will be significantly tested with pattern core drilling and limited large diameter drilling (LDD) during the 2006 exploration program. The LDD program is specifically designed to recover additional macrodiamonds for grade estimation and valution prior to bulk sampling.
The total diamond recoveries per kimberlite for each square mesh sieve size from 0.075 to 1.18 millimetres are listed in the table below:
-------------------------------------------------------------------------
Sample
Kimber- Mass 0.075 0.106 0.15 0.212 0.3 0.425 0.6 0.85 1.18 Total
lite (kg) mm mm mm mm mm mm mm mm mm Stones
-------------------------------------------------------------------------
101 548.48 0 1 0 1 1 0 1 0 0 4
-------------------------------------------------------------------------
116 551.58 8 5 2 1 0 1 0 0 0 17
-------------------------------------------------------------------------
118 846.90 90 79 48 35 15 4 1 1 0 273
-------------------------------------------------------------------------
119 424.70 56 22 7 5 0 0 0 0 0 90
-------------------------------------------------------------------------
123 984.74 493 337 141 78 26 16 6 1 0 1,098
-------------------------------------------------------------------------
133 432.00 236 115 29 15 5 1 1 0 0 402
-------------------------------------------------------------------------
134 421.55 25 23 11 4 0 3 0 0 0 66
-------------------------------------------------------------------------
135 665.62 61 19 11 4 3 0 0 0 0 98
-------------------------------------------------------------------------
145 1,124.06 615 309 161 53 18 6 0 0 0 1,162
-------------------------------------------------------------------------
147 907.52 1,836 1,102 584 328 120 51 22 1 2 4,046
-------------------------------------------------------------------------
152 638.46 145 104 46 26 11 8 1 1 1 343
-------------------------------------------------------------------------
158 990.27 140 74 21 8 2 1 0 0 0 246
-------------------------------------------------------------------------
163 404.12 1 2 0 0 0 0 0 0 0 3
-------------------------------------------------------------------------
216 905.86 53 14 8 4 0 1 0 0 1 81
-------------------------------------------------------------------------
218 597.54 16 4 2 0 1 0 0 0 0 23
-------------------------------------------------------------------------
219 754.12 341 289 189 95 65 10 2 0 0 991
-------------------------------------------------------------------------
223 302.15 97 82 31 16 5 2 0 0 0 233
-------------------------------------------------------------------------
Star
West 1,344.95 542 303 142 92 41 17 10 3 2 1,152
-------------------------------------------------------------------------
12,844.62 4,755 2,884 1,433 765 313 121 44 7 6 10,328
-------------------------------------------------------------------------
These results by sieve class illustrate the encouraging size frequency distribution of the diamonds recovered from Kimberlite 147. In addition, Shore geologists believe that the microdiamond results for Star West in the above tables support the results achieved on the Star Diamond Project, where an overall average grade of 16 carats per hundred tonnes was obtained from macrodiamond bulk sampling, and are highly encouraged when comparing these results with Kimberlite 147.
Senior Vice President Exploration and Development, George Read, states: "These microdiamond results indicate the highly prospective nature of the northwest trending FALC-JV kimberlites from Star West to the north end of the Orion Cluster, particularly Kimberlite 147. Shore management and geologists are very encouraged by these results that confirm the targets selected for further investigation during the 2006 exploration program. Shore, through its wholly owned subsidiary Kensington Resources, looks forward to working with the other FALC-JV Participants, De Beers and Cameco, to ensure the thorough investigation and aggressive development of the Fort a la Corne kimberlites. It is Shore's/Kensington's aim to commence a prefeasibility study on selected high interest FALC-JV kimberlites on the shortest possible timeline."
The 2006 exploration program on the FALC-JV will commence immediately, is scheduled for completion by December 31, 2006 and has an approved budget of $43.2 million, which will be funded by the FALC-JV Participants in the following split: Kensington Resources Ltd (a wholly owned subsidiary of Shore Gold Inc.) (46.94%), De Beers Canada Inc. (46.94%) and Cameco Corporation (6.12%).
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.