Post by Zoinkers on Aug 1, 2006 13:52:13 GMT -5
Press Release Source: Shore Gold Inc.
Star Diamond Project: Phase 3 Diamond Results 14.86, 8.68 and 6.83 Carat Diamonds in 334 Carat Parcel
Thursday June 15, 5:01 pm ET
Stock Symbol: SGF: TSX
SASKATOON, June 15 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the first set of diamond results from Phase 3 of the underground bulk sample (Phase 1 is the original 25,000 tonne bulk sample, Phase 2 is the prefeasibility study 18,000 tonnes) collected from the Star Kimberlite in preparation to bulk sample the Pense and Cantuar Kimberlites. The diamond recoveries total 334.43 carats from 1,908.92 dry tonnes processed. Included in this release are results for eight kimberlite batches of a total of approximately 50 kimberlite batches that will be processed as part of the Phase 3 bulk sampling program. A total of 1,807 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 333.88 carats, has been recovered from the eight batches. Fifty-six diamonds greater than one carat have been recovered and the four largest stones are: 14.86, 8.68, 6.83 and 6.36 carats, respectively. In addition, fifty-one diamonds (0.55 carats) were recovered down to 0.85 millimetre square mesh. The colour of 64 percent of the diamonds has been classified as white, with a further 14 percent classified as off-white.
Five of these kimberlite batches have been recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 156) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 152, 153, 154 and 155). Batches 157 and 158 represent possible Cantuar Kimberlite and Batch 159 is a mix of Early Joli Fou and Cantuar Kimberlite. The lower grades of Batches 154, 155 and 158 result from increased proportions of finer grained pyroclastic kimberlite. Over 2,900 tonnes of Phase 3 kimberlite has been processed through the on-site plant. The X-ray Flowsort and grease table concentrates of Batches 160, 161, 162 and 163 have been dispatched to SGS Lakefield Research for final diamond recovery.
Kimberlite processed and diamond results for the eight sample batches are listed in the table below. Grades are expressed in carats per hundred tonnes (cpht).
-------------------------------------------------------------------------
Diamonds
Batch Location Dry Number Total Grade Largest
No. Tonnes of (carats) (cpht) Stone
Stones (carats)
-------------------------------------------------------------------------
152 SOUTH 16I 358.22 389 72.95 20.36 6.83
-------------------------------------------------------------------------
153 SOUTH 16J 297.35 355 99.17 33.35 14.86
-------------------------------------------------------------------------
154 SOUTH 16K 347.00 318 44.90 12.94 2.18
-------------------------------------------------------------------------
155 SOUTH 16L 362.64 323 37.20 10.26 1.74
-------------------------------------------------------------------------
156 SOUTH 11 SLASH B 80.74 90 20.30 25.15 2.53
-------------------------------------------------------------------------
157 SOUTH MAIN SLASH F 148.66 117 17.10 11.50 3.12
-------------------------------------------------------------------------
158 SOUTH MAIN SLASH E 135.11 102 15.50 11.47 1.51
-------------------------------------------------------------------------
159 SOUTH MAIN SLASH D 179.20 164 27.31 15.24 2.31
-------------------------------------------------------------------------
Total 1,908.92 1,858 334.43 17.52
-------------------------------------------------------------------------
The four largest stones are: 14.86 (Batch 153, Grey), 8.68 (Batch 153,
Brown), 6.83 (Batch 152, Grey) and 6.36 (Batch 153, White) carats,
respectively. Fifteen diamonds exceed two carats and 56 diamonds exceed one
carat, of which 22 are white, 13 are off-white, 17 are grey and 4 are brown. A
total of 130 diamonds exceed 0.5 carat. Sixty-four percent of this diamond
parcel is classified white in colour, with a further 14 percent classified as
off-white. The diamond parcel includes 2 pink stones, 2 yellow stones and 1
amber stone. 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:
"Phase 3 of the underground development aims to recover diamond parcels in
excess of 1,000 carats from each of the Pense and Cantuar Kimberlites, which
were defined as significant units in the prefeasibility pattern core drilling
program. The Cantuar Kimberlite is accessible immediately to the southwest of
the existing underground development. A ramp (South 16) has been developed to
the 215 metre level to access the Pense Kimberlite some 200 metres to the east
of the Phase 1 and 2 underground workings. The ramp to the Pense is close to
completion and a drill station adjacent to the Pense will be operational
within a matter of days. Drilling of the Pense from this drill station will
precede underground development to bulk sample the Pense. Samples recovered
from surface core drilling suggest that the Pense is a significantly
prospective kimberlite with abundant coarse olivine macrocrysts and a large
mantle mineral component. 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
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: Phase 3 Diamond Results 14.86, 8.68 and 6.83 Carat Diamonds in 334 Carat Parcel
Thursday June 15, 5:01 pm ET
Stock Symbol: SGF: TSX
SASKATOON, June 15 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the first set of diamond results from Phase 3 of the underground bulk sample (Phase 1 is the original 25,000 tonne bulk sample, Phase 2 is the prefeasibility study 18,000 tonnes) collected from the Star Kimberlite in preparation to bulk sample the Pense and Cantuar Kimberlites. The diamond recoveries total 334.43 carats from 1,908.92 dry tonnes processed. Included in this release are results for eight kimberlite batches of a total of approximately 50 kimberlite batches that will be processed as part of the Phase 3 bulk sampling program. A total of 1,807 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 333.88 carats, has been recovered from the eight batches. Fifty-six diamonds greater than one carat have been recovered and the four largest stones are: 14.86, 8.68, 6.83 and 6.36 carats, respectively. In addition, fifty-one diamonds (0.55 carats) were recovered down to 0.85 millimetre square mesh. The colour of 64 percent of the diamonds has been classified as white, with a further 14 percent classified as off-white.
Five of these kimberlite batches have been recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 156) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 152, 153, 154 and 155). Batches 157 and 158 represent possible Cantuar Kimberlite and Batch 159 is a mix of Early Joli Fou and Cantuar Kimberlite. The lower grades of Batches 154, 155 and 158 result from increased proportions of finer grained pyroclastic kimberlite. Over 2,900 tonnes of Phase 3 kimberlite has been processed through the on-site plant. The X-ray Flowsort and grease table concentrates of Batches 160, 161, 162 and 163 have been dispatched to SGS Lakefield Research for final diamond recovery.
Kimberlite processed and diamond results for the eight sample batches are listed in the table below. Grades are expressed in carats per hundred tonnes (cpht).
-------------------------------------------------------------------------
Diamonds
Batch Location Dry Number Total Grade Largest
No. Tonnes of (carats) (cpht) Stone
Stones (carats)
-------------------------------------------------------------------------
152 SOUTH 16I 358.22 389 72.95 20.36 6.83
-------------------------------------------------------------------------
153 SOUTH 16J 297.35 355 99.17 33.35 14.86
-------------------------------------------------------------------------
154 SOUTH 16K 347.00 318 44.90 12.94 2.18
-------------------------------------------------------------------------
155 SOUTH 16L 362.64 323 37.20 10.26 1.74
-------------------------------------------------------------------------
156 SOUTH 11 SLASH B 80.74 90 20.30 25.15 2.53
-------------------------------------------------------------------------
157 SOUTH MAIN SLASH F 148.66 117 17.10 11.50 3.12
-------------------------------------------------------------------------
158 SOUTH MAIN SLASH E 135.11 102 15.50 11.47 1.51
-------------------------------------------------------------------------
159 SOUTH MAIN SLASH D 179.20 164 27.31 15.24 2.31
-------------------------------------------------------------------------
Total 1,908.92 1,858 334.43 17.52
-------------------------------------------------------------------------
The four largest stones are: 14.86 (Batch 153, Grey), 8.68 (Batch 153,
Brown), 6.83 (Batch 152, Grey) and 6.36 (Batch 153, White) carats,
respectively. Fifteen diamonds exceed two carats and 56 diamonds exceed one
carat, of which 22 are white, 13 are off-white, 17 are grey and 4 are brown. A
total of 130 diamonds exceed 0.5 carat. Sixty-four percent of this diamond
parcel is classified white in colour, with a further 14 percent classified as
off-white. The diamond parcel includes 2 pink stones, 2 yellow stones and 1
amber stone. 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:
"Phase 3 of the underground development aims to recover diamond parcels in
excess of 1,000 carats from each of the Pense and Cantuar Kimberlites, which
were defined as significant units in the prefeasibility pattern core drilling
program. The Cantuar Kimberlite is accessible immediately to the southwest of
the existing underground development. A ramp (South 16) has been developed to
the 215 metre level to access the Pense Kimberlite some 200 metres to the east
of the Phase 1 and 2 underground workings. The ramp to the Pense is close to
completion and a drill station adjacent to the Pense will be operational
within a matter of days. Drilling of the Pense from this drill station will
precede underground development to bulk sample the Pense. Samples recovered
from surface core drilling suggest that the Pense is a significantly
prospective kimberlite with abundant coarse olivine macrocrysts and a large
mantle mineral component. 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
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.