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Post by Franko10 ™ on Jan 31, 2005 12:25:24 GMT -5
Kensington Resources: Modeled Diamond Values And Revenue Calculations Put Fort A La Corne Joint Venture On Track For Expanded 2001 Drilling Program
VANCOUVER, B.C--(BUSINESS WIRE)--April 25, 2001
The Fort a la Corne Diamond Project is a joint venture among DeBeers Canada Exploration Inc., a wholly owned subsidiary of DeBeers (DBRSY-Q) (42.3%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.4%), UEM Inc., a wholly owned subsidiary of Cameco (10%), and Kensington Resources Ltd., (KRT-CDNX;KNSRF-L) (42.3%).
The 71 kimberlite bodies of the Fort a la Corne field form one of the largest diamondiferous clusters in the world.
The joint venture partners are pleased to report highly favourable modeled diamond values for the 2000 drilling program. Discussion of macrodiamond results during the 2001 Joint Venture Annual Technical Meeting on April 18, 2001 showed strong support to further test kimberlite 141 and to increase the stone inventory for body 150, another high priority target.
At the current stage of exploration in Fort a la Corne, resource evaluation is increasingly oriented to establishing reasonably confident estimates of grade and stone values (reflecting a range of stone sizes expected from production scenarios). Consequently, revenue modeling is based on factorized forecast grades and the corresponding modeled stone values per body with a decreased emphasis on smaller stone sizes. Sample results from the 2000 program confirm that kimberlites 141 and 122 have coarse diamond size distributions and the potential to contain larger stones.
Table 1 shows a summary of grade and revenue model results. Grade forecasts per body are based on combined size distributions of microdiamonds and macrodiamonds. For kimberlite 122, grade was modeled at lower and upper likely values due to data scatter, while 141 showed moderately well constrained grade data, but more variation in the modeled revenue values. Hence, revenue estimates (in dollars per tonne) are given in ranges that reflect "best fit" and "optimistic" models for each kimberlite body; the variation between the two being a function of limitations inherent in using relatively small diamond parcels in the calculations. In addition, results are given for models based on +1.0 mm and +1.5mm bottom size cut-offs, the latter reflecting more realistic production size recoveries. De Beers' diamond experts suggest the small difference in grade at different bottom screen sizes is characteristic of a coarse diamond size distribution. Modeled values for body 141 ranges from US$148 to US$179 per carat with corresponding revenue estimates that range from US$28 to US$33 per tonne of kimberlite processed.
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Sample Grade Grade Model
Body Carats Forecast/ Forecast/ Value
(+1mm) cpht cpht US$/ct.
(+1mm) (+1.5mm) (+1mm)
---------------------------------------------------------------
122 17.31 8 7.5 133
122 13 12 136
141 21.06 19 18 148
141 19 18 173
---------------------------------------------------------------
---------------------------------------------------------------
Body Model Model Model
Value Revenue Revenue
US$/ct. US$/t US$/t Model
(+1.5mm) (+1.0mm) (+1.5mm) Description
---------------------------------------------------------------
122 144 11 11 Best fit
122 147 18 18 Optimistic
141 153 28 28 Best fit
141 179 33 32 Optimistic
---------------------------------------------------------------
The joint venture partners are greatly encouraged by these results and a 2001 summer and fall exploration program was recommended that includes advanced testing of kimberlite 141 primarily, as well as additional minibulk sampling of body 150. A budget of $4.8 million is under consideration by all three joint venture partners for this work.
Further results yet to be released from the 2000 program include:
- Microdiamond recovery from 1,194 kg by De Beers facilities
- Microdiamond recovery from 283 kg by Lakefield Research
- Breakage study for 2000 macrodiamonds
- Updated De Beers grade forecasts and modeled values based on combination of
all recent and historical microdiamond and macrodiamond data from 141 and 122
- Summary of processing audit results conducted by MPH Consultants
- Individual stone valuations by WWW International Diamond Consultants
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
David H. Stone President
TRADING SYMBOL: KRT-CDNX
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's documents filed from time to time with the B.C. Securities Commission and the U.S. Securities and Exchange Commission.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group
VANCOUVER, B.C--(BUSINESS WIRE)--April 25, 2001
The Fort a la Corne Diamond Project is a joint venture among DeBeers Canada Exploration Inc., a wholly owned subsidiary of DeBeers (DBRSY-Q) (42.3%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.4%), UEM Inc., a wholly owned subsidiary of Cameco (10%), and Kensington Resources Ltd., (KRT-CDNX;KNSRF-L) (42.3%).
The 71 kimberlite bodies of the Fort a la Corne field form one of the largest diamondiferous clusters in the world.
The joint venture partners are pleased to report highly favourable modeled diamond values for the 2000 drilling program. Discussion of macrodiamond results during the 2001 Joint Venture Annual Technical Meeting on April 18, 2001 showed strong support to further test kimberlite 141 and to increase the stone inventory for body 150, another high priority target.
At the current stage of exploration in Fort a la Corne, resource evaluation is increasingly oriented to establishing reasonably confident estimates of grade and stone values (reflecting a range of stone sizes expected from production scenarios). Consequently, revenue modeling is based on factorized forecast grades and the corresponding modeled stone values per body with a decreased emphasis on smaller stone sizes. Sample results from the 2000 program confirm that kimberlites 141 and 122 have coarse diamond size distributions and the potential to contain larger stones.
Table 1 shows a summary of grade and revenue model results. Grade forecasts per body are based on combined size distributions of microdiamonds and macrodiamonds. For kimberlite 122, grade was modeled at lower and upper likely values due to data scatter, while 141 showed moderately well constrained grade data, but more variation in the modeled revenue values. Hence, revenue estimates (in dollars per tonne) are given in ranges that reflect "best fit" and "optimistic" models for each kimberlite body; the variation between the two being a function of limitations inherent in using relatively small diamond parcels in the calculations. In addition, results are given for models based on +1.0 mm and +1.5mm bottom size cut-offs, the latter reflecting more realistic production size recoveries. De Beers' diamond experts suggest the small difference in grade at different bottom screen sizes is characteristic of a coarse diamond size distribution. Modeled values for body 141 ranges from US$148 to US$179 per carat with corresponding revenue estimates that range from US$28 to US$33 per tonne of kimberlite processed.
---------------------------------------------------------------
Sample Grade Grade Model
Body Carats Forecast/ Forecast/ Value
(+1mm) cpht cpht US$/ct.
(+1mm) (+1.5mm) (+1mm)
---------------------------------------------------------------
122 17.31 8 7.5 133
122 13 12 136
141 21.06 19 18 148
141 19 18 173
---------------------------------------------------------------
---------------------------------------------------------------
Body Model Model Model
Value Revenue Revenue
US$/ct. US$/t US$/t Model
(+1.5mm) (+1.0mm) (+1.5mm) Description
---------------------------------------------------------------
122 144 11 11 Best fit
122 147 18 18 Optimistic
141 153 28 28 Best fit
141 179 33 32 Optimistic
---------------------------------------------------------------
The joint venture partners are greatly encouraged by these results and a 2001 summer and fall exploration program was recommended that includes advanced testing of kimberlite 141 primarily, as well as additional minibulk sampling of body 150. A budget of $4.8 million is under consideration by all three joint venture partners for this work.
Further results yet to be released from the 2000 program include:
- Microdiamond recovery from 1,194 kg by De Beers facilities
- Microdiamond recovery from 283 kg by Lakefield Research
- Breakage study for 2000 macrodiamonds
- Updated De Beers grade forecasts and modeled values based on combination of
all recent and historical microdiamond and macrodiamond data from 141 and 122
- Summary of processing audit results conducted by MPH Consultants
- Individual stone valuations by WWW International Diamond Consultants
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
David H. Stone President
TRADING SYMBOL: KRT-CDNX
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's documents filed from time to time with the B.C. Securities Commission and the U.S. Securities and Exchange Commission.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2001 Business Wire
COPYRIGHT 2001 Gale Group
