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Post by Franko10 ™ on Oct 12, 2004 10:28:15 GMT -5
VANCOUVER, BC--(BUSINESS WIRE)--Dec. 12, 1995--CONS. PINE CHANNEL (VSE:JNN) JNR RESOURCES INC. (VSE:KPG) A combined $1 million exploration effort by Vancouver's Consolidated Pine Channel Gold Corp.
(VSE - KPG) and JNR Resources Inc. (VSE - JNR) has uncovered two previously unknown kimberlite pipes in the Temiskaming district of northern Ontario.
In addition, the companies are currently expanding their work at the recently discovered OPAP pipe nearby.
Geological consultant Iain Downie, speaking at the 18th Annual Mines and Minerals Symposium, announced today that drilling on the OPAP (Ontario Prospector's Assistance Program) pipe in Bucke township indicates that the pipe will measure at least 15 acres, or 6 hectares, in area. Winter drilling in wet areas is planned to further expand the size of the pipe.
Speaking on the OPAP pipe, Downie said: "the initial heavy mineral sampling program has defined a possibly economic, moderate grade diamond find. It is quite a large pipe, even at is minimum."
Downie estimated that a modest grade of even 40 carats per 100 tonnes of modest value, $50 US/carat or $20/tonne, would make this site economically viable.
"By industry measures this is quite a low value," said Downie. "It would not take much to make this pipe economic - and the grades could be considerably higher than the minimum required."
Adding to its viability, the OPAP pipe, located near Cobalt in northeastern Ontario, neighbours Highway 11 and lies 400m from a paved road and 2.5 km from a power source.
"All the facilities are there," said Downie, pointing out that the site is additionally promising due to the three pipes being shallow-overburden, ranging in depth from five to twenty-seven feet and, therefore, very accessible.
The prospecting team of John Ewanchuk, Keith Barron and Robert Barnett succeeded in discovering the OPAP pipe in an area already thought thoroughly explored by several companies, including Monopros, KWG/Spider Resources and Lac Minerals.
The discovery of the OPAP pipe found its spark in the legend of the Nipissing diamond. In 1906, a U.S. Geological Survey reported the discovery of a diamond later described as being "as large as a hen's egg" and estimated at 700 to 1000 carats. However, this find was overlooked, in part, due to the area being under siege by 25,000 silver prospectors at the time, but Tiffany & Co. was reputed to have sent staff geologists to the Nipissing area to verify and evaluate the diamond.
Consolidated Pine Channel and JNR Resources' joint exploration programs in Bucke has identified two additonal pipes, C31 and Bucke F, housing smaller diameter hydrobyssal facies kimberlites.
"Bucke F is the most interesting," said Downie. "It contains more coarse indicators than either C31 or OPAP."
"Microprobe analysis of garnets suggest eclogitic pavagenesis affinities. And the chemical content of these eclogitic garnets is in keeping with known-producing pipes such as those at Orapa, which is larger in size, and Udachanya, which is similar in size to Bucke F," explained Downie.
Downie called the results of the analysis of chrome dioxides and ilmanites "encouraging." "It is concluded," he said, "that this pipe is diamondiferous." -0- EDITOR'S NOTE: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
CONTACT: Dale W. Hoffman, President
(604) 684-5118
(800) 661-4050
(604) 682-8566 (Fax)
COPYRIGHT 1995 Business Wire
COPYRIGHT 2004 Gale Group
(VSE - KPG) and JNR Resources Inc. (VSE - JNR) has uncovered two previously unknown kimberlite pipes in the Temiskaming district of northern Ontario.
In addition, the companies are currently expanding their work at the recently discovered OPAP pipe nearby.
Geological consultant Iain Downie, speaking at the 18th Annual Mines and Minerals Symposium, announced today that drilling on the OPAP (Ontario Prospector's Assistance Program) pipe in Bucke township indicates that the pipe will measure at least 15 acres, or 6 hectares, in area. Winter drilling in wet areas is planned to further expand the size of the pipe.
Speaking on the OPAP pipe, Downie said: "the initial heavy mineral sampling program has defined a possibly economic, moderate grade diamond find. It is quite a large pipe, even at is minimum."
Downie estimated that a modest grade of even 40 carats per 100 tonnes of modest value, $50 US/carat or $20/tonne, would make this site economically viable.
"By industry measures this is quite a low value," said Downie. "It would not take much to make this pipe economic - and the grades could be considerably higher than the minimum required."
Adding to its viability, the OPAP pipe, located near Cobalt in northeastern Ontario, neighbours Highway 11 and lies 400m from a paved road and 2.5 km from a power source.
"All the facilities are there," said Downie, pointing out that the site is additionally promising due to the three pipes being shallow-overburden, ranging in depth from five to twenty-seven feet and, therefore, very accessible.
The prospecting team of John Ewanchuk, Keith Barron and Robert Barnett succeeded in discovering the OPAP pipe in an area already thought thoroughly explored by several companies, including Monopros, KWG/Spider Resources and Lac Minerals.
The discovery of the OPAP pipe found its spark in the legend of the Nipissing diamond. In 1906, a U.S. Geological Survey reported the discovery of a diamond later described as being "as large as a hen's egg" and estimated at 700 to 1000 carats. However, this find was overlooked, in part, due to the area being under siege by 25,000 silver prospectors at the time, but Tiffany & Co. was reputed to have sent staff geologists to the Nipissing area to verify and evaluate the diamond.
Consolidated Pine Channel and JNR Resources' joint exploration programs in Bucke has identified two additonal pipes, C31 and Bucke F, housing smaller diameter hydrobyssal facies kimberlites.
"Bucke F is the most interesting," said Downie. "It contains more coarse indicators than either C31 or OPAP."
"Microprobe analysis of garnets suggest eclogitic pavagenesis affinities. And the chemical content of these eclogitic garnets is in keeping with known-producing pipes such as those at Orapa, which is larger in size, and Udachanya, which is similar in size to Bucke F," explained Downie.
Downie called the results of the analysis of chrome dioxides and ilmanites "encouraging." "It is concluded," he said, "that this pipe is diamondiferous." -0- EDITOR'S NOTE: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
CONTACT: Dale W. Hoffman, President
(604) 684-5118
(800) 661-4050
(604) 682-8566 (Fax)
COPYRIGHT 1995 Business Wire
COPYRIGHT 2004 Gale Group
