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Post by Franko10 ™ on Jan 31, 2005 13:35:21 GMT -5
Kensington Resources Ltd.: Drilling Commences On Largest Program To Date
VICTORIA, British Columbia--(BUSINESS WIRE)--Sept. 5, 2002
Kensington Resources Ltd. (TSX VENTURE:KRT) (the "Company") is pleased to report that drilling has commenced on kimberlite 141/140 at the Fort a la Corne Diamond Project in Saskatchewan. The first phase of the CDN $5.2 million program for 2002 consists of 25 coreholes targeting the centre of body 141 and the southern part of body 140. Both kimberlite bodies contain significant thicknesses of megagraded kimberlite which have recently been understood by geological modeling to form a single body.
Corehole drilling is also being used to determine the best placement for the large diameter drillholes for minibulk sampling in the second phase of the program. The 10 large diameter drillholes will provide additional carats to increase the level of confidence in grade forecasts, valuations and revenue modeling by De Beers.
Drilling commenced at 10:00 AM today. Boart Longyear moved two drill rigs on site for the corehole phase of the program.
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 (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world.
ON BEHALF OF THE BOARD OF DIRECTORS OF
KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone
President
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.
Kensington Resources Ltd.
Head Office
Suite 304, 1208 Wharf Street
Victoria, British Columbia, CANADA V8W 3B9
Tel: (250) 361-1KRT (361-1578) Fax: (250) 361-3410
Website: www.kensington-resources.com
E-Mail: info@kensington-resources.com
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX 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)--Sept. 5, 2002
Kensington Resources Ltd. (TSX VENTURE:KRT) (the "Company") is pleased to report that drilling has commenced on kimberlite 141/140 at the Fort a la Corne Diamond Project in Saskatchewan. The first phase of the CDN $5.2 million program for 2002 consists of 25 coreholes targeting the centre of body 141 and the southern part of body 140. Both kimberlite bodies contain significant thicknesses of megagraded kimberlite which have recently been understood by geological modeling to form a single body.
Corehole drilling is also being used to determine the best placement for the large diameter drillholes for minibulk sampling in the second phase of the program. The 10 large diameter drillholes will provide additional carats to increase the level of confidence in grade forecasts, valuations and revenue modeling by De Beers.
Drilling commenced at 10:00 AM today. Boart Longyear moved two drill rigs on site for the corehole phase of the program.
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 (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (42.25%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world.
ON BEHALF OF THE BOARD OF DIRECTORS OF
KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone
President
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.
Kensington Resources Ltd.
Head Office
Suite 304, 1208 Wharf Street
Victoria, British Columbia, CANADA V8W 3B9
Tel: (250) 361-1KRT (361-1578) Fax: (250) 361-3410
Website: www.kensington-resources.com
E-Mail: info@kensington-resources.com
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX 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
