Owner
Post by Franko10 ™ on Jan 31, 2005 14:24:30 GMT -5
Kensington Resources Ltd.: Enriched Zones Targeted in Phase 1 of 2003/2004 Program
VICTORIA, British Columbia--(BUSINESS WIRE)--Sept. 8, 2003
Kensington Resources Ltd. (the "Company") is pleased to announce Phase 1 of the upcoming 2003/2004 exploration program for the Fort a la Corne Diamond Project in Saskatchewan. Field activities will begin by mid-month. Microdiamond recovery and geology results from Phase 1 are expected to facilitate decisions concerning large diameter drilling and bulk sampling during the spring and summer of 2004.
A significantly higher-grade zone of kimberlite was discovered during last year's program. Although final grade forecasts are awaiting receipt of the final two microdiamond sample results from the operator, the Joint Venture has agreed to begin delineating this new zone of kimberlite body 140/141. A program of up to forty-five HQ coreholes (size 63.5 mm or 2.5 inches diameter) will commence mid September on kimberlites 140/141, 150, 148 and 122. This first stage of the 2003/2004 drilling and microdiamond recovery program is expected to be completed by April 2004.
These drillholes will enable an initial investigation of the geology of these kimberlites and prospective intersections will be sampled for total diamond recovery utilizing caustic dissolution. One other corehole will be targeted on a gravity anomaly discovered last year directly west of the 140/141 kimberlites. Gravity surveys will be conducted on the 148, 150 and 122 kimberlites in order to better define the shape and size of these bodies. In light of substantial improvements in airborne geophysical techniques, the Joint Venture will run an airborne magnetic gradiometry survey over the entire joint venture land holdings to provide higher resolution coverage of the Fort a la Corne kimberlite field. The estimated cost of Phase 1 is CAN $3 million.
Grade forecasts and valuations from 2002 and previous years sampling of the 140/141 body will be released shortly once they are finalized by De Beers Canada Exploration Inc.
The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. Using the expertise of proven management and a world-class experienced technical team, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
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.
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 2003 Business Wire
COPYRIGHT 2003 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--Sept. 8, 2003
Kensington Resources Ltd. (the "Company") is pleased to announce Phase 1 of the upcoming 2003/2004 exploration program for the Fort a la Corne Diamond Project in Saskatchewan. Field activities will begin by mid-month. Microdiamond recovery and geology results from Phase 1 are expected to facilitate decisions concerning large diameter drilling and bulk sampling during the spring and summer of 2004.
A significantly higher-grade zone of kimberlite was discovered during last year's program. Although final grade forecasts are awaiting receipt of the final two microdiamond sample results from the operator, the Joint Venture has agreed to begin delineating this new zone of kimberlite body 140/141. A program of up to forty-five HQ coreholes (size 63.5 mm or 2.5 inches diameter) will commence mid September on kimberlites 140/141, 150, 148 and 122. This first stage of the 2003/2004 drilling and microdiamond recovery program is expected to be completed by April 2004.
These drillholes will enable an initial investigation of the geology of these kimberlites and prospective intersections will be sampled for total diamond recovery utilizing caustic dissolution. One other corehole will be targeted on a gravity anomaly discovered last year directly west of the 140/141 kimberlites. Gravity surveys will be conducted on the 148, 150 and 122 kimberlites in order to better define the shape and size of these bodies. In light of substantial improvements in airborne geophysical techniques, the Joint Venture will run an airborne magnetic gradiometry survey over the entire joint venture land holdings to provide higher resolution coverage of the Fort a la Corne kimberlite field. The estimated cost of Phase 1 is CAN $3 million.
Grade forecasts and valuations from 2002 and previous years sampling of the 140/141 body will be released shortly once they are finalized by De Beers Canada Exploration Inc.
The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. Using the expertise of proven management and a world-class experienced technical team, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
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.
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 2003 Business Wire
COPYRIGHT 2003 Gale Group
