Post by Zoinkers on Sept 15, 2006 4:02:21 GMT -5
Press Release Source: Shore Gold Inc.
Star Diamond Project: Phase 3 diamond results 10.26, 6.62, 3.77 and 3.53 carat diamonds in 340 carat parcel
Wednesday September 6, 3:13 pm ET
Stock Symbol: SGF: TSX
SASKATOON, SK, Sept. 6 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the second set of diamond results from Phase 3 of the underground bulk sample (Phase 1 being the original 25,000 tonne bulk sample and Phase 2 being the 18,000 tonne prefeasibility study) collected from the Star Kimberlite in preparation to bulk sample the Pense and Cantuar Kimberlites. The diamond recoveries total 340.42 carats from 2,139.57 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 2,694 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 337.66 carats, has been recovered from the eight batches. Forty-one diamonds greater than one carat have been recovered and the four largest stones are: 10.26, 6.62, 3.77 and 3.53 carats, respectively. In addition, one hundred and sixty-two diamonds (2.76 carats) were recovered down to 0.85 millimetre square mesh. The colour of 67 percent of the diamonds has been classified as white, with a further 15 percent classified as off-white.
Seven of these kimberlite batches were recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 160) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 161, 162, 163, 164, 165 and 167). The lower grade of Batch 164 results from an increased proportion of finer grained pyroclastic kimberlite. Batch 166 represents Cantuar Kimberlite in the southwestern part of the underground development. Over 8,320 tonnes of Phase 3 kimberlite has been processed through the on-site plant. The X-ray Flowsort and grease table concentrates of Batches 168, 169, 170, 171, 172, 173, 174, 175, 176, 177 and 178 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).
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Diamonds
Number Largest
Batch Dry of Total Grade Stone
No. Location Tonnes Stones (carats) (cpht) (carats)
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160 SOUTH 11 LEFT SLASH B 115.97 99 22.04 19.00 3.77
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161 SOUTH 16M 376.60 496 53.04 14.08 1.68
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162 SOUTH 16N 165.15 201 25.83 15.64 6.62
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163 SOUTH 16O 323.95 451 49.93 15.41 3.02
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164 SOUTH 16P 304.11 436 35.57 11.70 3.00
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165 SOUTH 16Q 365.48 518 68.47 18.73 10.26
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166 SOUTH 7 DRILL STATION 156.03 179 29.84 19.12 2.56
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167 SOUTH 16 REFUGE 332.28 476 55.70 16.76 2.79
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Total 2,139.57 2,856 340.42 15.91
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The four largest stones are: 10.26 (Batch 165, White), 6.62 (Batch 162, White), 3.77 (Batch 160, Brown) and 3.53 (Batch 165, White) carats, respectively. Fourteen diamonds exceed two carats and 41 diamonds exceed one carat, of which 19 are white, 8 are off-white, 8 are grey, 2 are yellow and 4 are brown. A total of 101 diamonds exceed 0.5 carats. Sixty-seven percent of this diamond parcel is classified white in colour, with a further 15 percent classified as off-white. The diamond parcel includes 2 pink stones, 7 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: "The development associated with Phase 3 of the underground is proceeding on schedule with the development out to the Pense Kimberlite, some 200 metres east of the Phase 1 and 2 underground workings, now complete. Pense Kimberlite has been sampled in the South 17 drift and this kimberlite contains abundant large olivine macrocrysts and a significant mantle component including garnet and ilmenite macrocrysts and peridotite and eclogite xenoliths. The mineralogy, coarse texture and xenolith content of the Pense Kimberlite encountered in the underground development, suggests that this kimberlite has significant carrying capacity for diamonds. Exploratory drilling of the Cantuar Kimberlite, in the southwestern part of the underground development, is nearing completion and negotiations are well advanced with the other Fort a la Corne Joint Venture (FALC-JV) participants, as the proposed Phase 3 bulk sampling of the Cantuar will be completed across the claim boundary between the Star Diamond Project and the FALC-JV. 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
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Source: Shore Gold Inc.
Star Diamond Project: Phase 3 diamond results 10.26, 6.62, 3.77 and 3.53 carat diamonds in 340 carat parcel
Wednesday September 6, 3:13 pm ET
Stock Symbol: SGF: TSX
SASKATOON, SK, Sept. 6 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the second set of diamond results from Phase 3 of the underground bulk sample (Phase 1 being the original 25,000 tonne bulk sample and Phase 2 being the 18,000 tonne prefeasibility study) collected from the Star Kimberlite in preparation to bulk sample the Pense and Cantuar Kimberlites. The diamond recoveries total 340.42 carats from 2,139.57 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 2,694 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 337.66 carats, has been recovered from the eight batches. Forty-one diamonds greater than one carat have been recovered and the four largest stones are: 10.26, 6.62, 3.77 and 3.53 carats, respectively. In addition, one hundred and sixty-two diamonds (2.76 carats) were recovered down to 0.85 millimetre square mesh. The colour of 67 percent of the diamonds has been classified as white, with a further 15 percent classified as off-white.
Seven of these kimberlite batches were recovered from the Early Joli Fou Kimberlite, which was mined to the south of the shaft (Batches 160) and on the ramp from the 235 metre level to the drill station on the 215 metre level (Batches 161, 162, 163, 164, 165 and 167). The lower grade of Batch 164 results from an increased proportion of finer grained pyroclastic kimberlite. Batch 166 represents Cantuar Kimberlite in the southwestern part of the underground development. Over 8,320 tonnes of Phase 3 kimberlite has been processed through the on-site plant. The X-ray Flowsort and grease table concentrates of Batches 168, 169, 170, 171, 172, 173, 174, 175, 176, 177 and 178 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).
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Diamonds
Number Largest
Batch Dry of Total Grade Stone
No. Location Tonnes Stones (carats) (cpht) (carats)
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160 SOUTH 11 LEFT SLASH B 115.97 99 22.04 19.00 3.77
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161 SOUTH 16M 376.60 496 53.04 14.08 1.68
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162 SOUTH 16N 165.15 201 25.83 15.64 6.62
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163 SOUTH 16O 323.95 451 49.93 15.41 3.02
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164 SOUTH 16P 304.11 436 35.57 11.70 3.00
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165 SOUTH 16Q 365.48 518 68.47 18.73 10.26
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166 SOUTH 7 DRILL STATION 156.03 179 29.84 19.12 2.56
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167 SOUTH 16 REFUGE 332.28 476 55.70 16.76 2.79
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Total 2,139.57 2,856 340.42 15.91
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The four largest stones are: 10.26 (Batch 165, White), 6.62 (Batch 162, White), 3.77 (Batch 160, Brown) and 3.53 (Batch 165, White) carats, respectively. Fourteen diamonds exceed two carats and 41 diamonds exceed one carat, of which 19 are white, 8 are off-white, 8 are grey, 2 are yellow and 4 are brown. A total of 101 diamonds exceed 0.5 carats. Sixty-seven percent of this diamond parcel is classified white in colour, with a further 15 percent classified as off-white. The diamond parcel includes 2 pink stones, 7 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: "The development associated with Phase 3 of the underground is proceeding on schedule with the development out to the Pense Kimberlite, some 200 metres east of the Phase 1 and 2 underground workings, now complete. Pense Kimberlite has been sampled in the South 17 drift and this kimberlite contains abundant large olivine macrocrysts and a significant mantle component including garnet and ilmenite macrocrysts and peridotite and eclogite xenoliths. The mineralogy, coarse texture and xenolith content of the Pense Kimberlite encountered in the underground development, suggests that this kimberlite has significant carrying capacity for diamonds. Exploratory drilling of the Cantuar Kimberlite, in the southwestern part of the underground development, is nearing completion and negotiations are well advanced with the other Fort a la Corne Joint Venture (FALC-JV) participants, as the proposed Phase 3 bulk sampling of the Cantuar will be completed across the claim boundary between the Star Diamond Project and the FALC-JV. 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.