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Post by Franko10 ™ on Jan 31, 2005 13:16:08 GMT -5
Kensington Resources Ltd. - Update On The Fort A La Corne Diamond Project
VICTORIA, British Columbia--(BUSINESS WIRE)--March 27, 2002
Kensington Resources Ltd. (the "Company") (CDNX: KRT) has been informed by De Beers Canada Exploration Inc. that all diamond recovery procedures have been completed for the ten large diameter (24-inch) boreholes drilled this fall at the Fort a la Corne Diamond Project, Saskatchewan. De Beers expects to have completed the breakage study, valuation, grade prediction and revenue modeling by the end of April 2002 and the Company will report a summary of macrodiamond results after they are received and evaluated.
The main objective of the 2001 drilling program was to obtain sufficient macrodiamonds for De Beers to improve the confidence limits of the modeled average diamond values for kimberlite body 141. Revenue modeling is based on factorized forecast grades and the corresponding modeled stone values per body with a decreased emphasis on smaller stone sizes. As announced on April 25, 2001, the previous "lower confidence" average values for macrodiamonds greater than 1.5 mm recovered from body 141 ranged from US $153 to $179 per carat for the "best case" and "optimistic" scenarios, respectively. Revenue models for these scenarios indicate values between US $28 and $32 per tonne for kimberlite body 141.
The Fort a la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program was funded by Kensington, De Beers, and Cameco.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone
President
TRADING SYMBOL: KRT-CDNX
For further information, please contact William Callahan, Manager of Investor Relations at (250) 361-1KRT or by e-mail at bill@kensington-resources.com
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--March 27, 2002
Kensington Resources Ltd. (the "Company") (CDNX: KRT) has been informed by De Beers Canada Exploration Inc. that all diamond recovery procedures have been completed for the ten large diameter (24-inch) boreholes drilled this fall at the Fort a la Corne Diamond Project, Saskatchewan. De Beers expects to have completed the breakage study, valuation, grade prediction and revenue modeling by the end of April 2002 and the Company will report a summary of macrodiamond results after they are received and evaluated.
The main objective of the 2001 drilling program was to obtain sufficient macrodiamonds for De Beers to improve the confidence limits of the modeled average diamond values for kimberlite body 141. Revenue modeling is based on factorized forecast grades and the corresponding modeled stone values per body with a decreased emphasis on smaller stone sizes. As announced on April 25, 2001, the previous "lower confidence" average values for macrodiamonds greater than 1.5 mm recovered from body 141 ranged from US $153 to $179 per carat for the "best case" and "optimistic" scenarios, respectively. Revenue models for these scenarios indicate values between US $28 and $32 per tonne for kimberlite body 141.
The Fort a la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program was funded by Kensington, De Beers, and Cameco.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone
President
TRADING SYMBOL: KRT-CDNX
For further information, please contact William Callahan, Manager of Investor Relations at (250) 361-1KRT or by e-mail at bill@kensington-resources.com
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
