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Post by Franko10 ™ on Jan 31, 2005 14:26:58 GMT -5
Kensington Resources Ltd.: Prospective Zones With Higher Grade Potential Intersected
VICTORIA, British Columbia--(BUSINESS WIRE)--Oct. 27, 2003
Kensington Resources Ltd. (the "Company") is pleased to report that 21 HQ (63.5 mm or 2.5 inches) and one NQ (47.6 mm or 1.875 inches) coreholes were completed into prospective kimberlite phases in kimberlites 140/141and 148 at the Fort a la Corne Diamond Project in Saskatchewan. The 2003 evaluation program has a budget of CDN $3.0 million for 45 coreholes distributed over 4 separate, prioritized kimberlite bodies.
A total of 1,697 metres of kimberlite and interbedded bedrock was intersected in the first 22 drillholes. Three Boart-Longyear LF-70 core drills completed this first stage of the field program. The drill rigs are currently operating on Kimberlite 150 where at least 11 HQ holes will be completed. Kimberlite 122 also will be drilled during the 2003 program.
At least two new kimberlite phases were identified by the 2002 corehole program on the 140/141 body including very coarse-grained, xenolith-rich kimberlite breccia and coarse olivine pyroclastic kimberlite, both containing visible mantle material and indicator minerals.
Initial macrodiamond recoveries in 2002-2003 from these more prospective kimberlite phases that primarily were intersected in LDDH 140-29 and 140-30 produced nine stones larger than 1/4 carat including three stones ranging from 1.82 to 3.61 carats. Sample grades for these units ranged from 4.8 to 58.1 cpht (based on 12 metre thick sample intervals). The combined average sample grade over the 72 m subdivision in 140-29 (142-214 m depth) and the 60 m interval in 140-30 (142-202m depth) was 20 cpht. Grades and revenues for these specific beds have not been modeled.
Investigation of the geology and distribution of prospective beds continues; eight of the ten coreholes targeted on the 140/141 kimberlite in the current program intersected similar, prospective kimberlite ranging from 6 to 78.8 metres in thickness. A summary of 2003 drilling on kimberlite 140/141 is shown in Table 1. Core from these drillholes may be selected for diamond recovery using caustic dissolution methods.
Several prospective intervals of indicator mineral-rich, coarse- to very coarse-grained olivine kimberlite were intersected on kimberlite 148 during drilling and selected samples will be submitted for diamond recovery utilizing caustic dissolution methods. A summary of 2003 drilling on kimberlite 148 is shown in Table 2.
For up to date photos on the 2003 program, please visit our website at www.kensington-resources.com.
Table 1: Summary of Drilling Progress on Kimberlite 140/141
(Provisional)
-----------------------------------------------------------
Drillhole Top of Bottom of Kimberlite Total Drillhole
Number Kimberlite Kimberlite Thickness Depth
-----------------------------------------------------------
140-32 101.1 244.3 143.2 291.0
-----------------------------------------------------------
140-33 100.4 199.5 99.0 208.0
-----------------------------------------------------------
140-34 100.2 205.0 104.8 219.0
-----------------------------------------------------------
140-35 113.1 183.4 70.4 216.0
-----------------------------------------------------------
140-36(1) 99.0 139.6 40.6 142.0
-----------------------------------------------------------
140-37(1) 131.9 142.3 10.4 147.0
-----------------------------------------------------------
140-38 108.3 215.0 106.7 228.0
-----------------------------------------------------------
141-40 132.5 161.4 28.9 272.0
-----------------------------------------------------------
140-39 100.2 239.4 139.2 249.0
-----------------------------------------------------------
140-40 102.0 237.4 135.4 246.0
-----------------------------------------------------------
Totals: 878.7 m 2,218.0 m
-----------------------------------------------------------
1 = Drillhole terminated prematurely due to difficult ground.
Table 2: Summary of Drilling Progress On Kimberlite 148
(Provisional)
-----------------------------------------------------------
Drillhole Top of Bottom of Kimberlite Total Drillhole
Number Kimberlite Kimberlite Thickness Depth
-----------------------------------------------------------
148-01-03 92.4 251.2 158.8 258.0
-----------------------------------------------------------
148-02-03 93.7 201.5 107.9 231.0
-----------------------------------------------------------
148-03-03 92.8 203.9 111.1 216.0
-----------------------------------------------------------
148-04-03 99.2 153.4 54.2 186.0
-----------------------------------------------------------
148-05-03(1) n/a n/a n/a 67.0
-----------------------------------------------------------
148-05a-03 92.2 181.0 88.8 204.0
-----------------------------------------------------------
148-06-03 91.8 200.1 108.3 207.0
-----------------------------------------------------------
148-07-03 100.9 147.2 46.4 153.0
-----------------------------------------------------------
148-08-03 99.3 147.1 47.8 156.0
-----------------------------------------------------------
148-09-03 109.9 124.9 15.0 156.0
-----------------------------------------------------------
148-10-03 112.5 152.3 39.8 159.0
-----------------------------------------------------------
148-11-03 102.5 142.7 40.2 150.0
-----------------------------------------------------------
Totals: 818.3 2,143.0
-----------------------------------------------------------
1 = Drillhole terminated prematurely in overburden due to
drilling problems.
Using the expertise of proven management and world-class, experienced technical advisors, 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. 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
David H. Stone, President
TRADING SYMBOL: KRT-TSX.V
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
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 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)--Oct. 27, 2003
Kensington Resources Ltd. (the "Company") is pleased to report that 21 HQ (63.5 mm or 2.5 inches) and one NQ (47.6 mm or 1.875 inches) coreholes were completed into prospective kimberlite phases in kimberlites 140/141and 148 at the Fort a la Corne Diamond Project in Saskatchewan. The 2003 evaluation program has a budget of CDN $3.0 million for 45 coreholes distributed over 4 separate, prioritized kimberlite bodies.
A total of 1,697 metres of kimberlite and interbedded bedrock was intersected in the first 22 drillholes. Three Boart-Longyear LF-70 core drills completed this first stage of the field program. The drill rigs are currently operating on Kimberlite 150 where at least 11 HQ holes will be completed. Kimberlite 122 also will be drilled during the 2003 program.
At least two new kimberlite phases were identified by the 2002 corehole program on the 140/141 body including very coarse-grained, xenolith-rich kimberlite breccia and coarse olivine pyroclastic kimberlite, both containing visible mantle material and indicator minerals.
Initial macrodiamond recoveries in 2002-2003 from these more prospective kimberlite phases that primarily were intersected in LDDH 140-29 and 140-30 produced nine stones larger than 1/4 carat including three stones ranging from 1.82 to 3.61 carats. Sample grades for these units ranged from 4.8 to 58.1 cpht (based on 12 metre thick sample intervals). The combined average sample grade over the 72 m subdivision in 140-29 (142-214 m depth) and the 60 m interval in 140-30 (142-202m depth) was 20 cpht. Grades and revenues for these specific beds have not been modeled.
Investigation of the geology and distribution of prospective beds continues; eight of the ten coreholes targeted on the 140/141 kimberlite in the current program intersected similar, prospective kimberlite ranging from 6 to 78.8 metres in thickness. A summary of 2003 drilling on kimberlite 140/141 is shown in Table 1. Core from these drillholes may be selected for diamond recovery using caustic dissolution methods.
Several prospective intervals of indicator mineral-rich, coarse- to very coarse-grained olivine kimberlite were intersected on kimberlite 148 during drilling and selected samples will be submitted for diamond recovery utilizing caustic dissolution methods. A summary of 2003 drilling on kimberlite 148 is shown in Table 2.
For up to date photos on the 2003 program, please visit our website at www.kensington-resources.com.
Table 1: Summary of Drilling Progress on Kimberlite 140/141
(Provisional)
-----------------------------------------------------------
Drillhole Top of Bottom of Kimberlite Total Drillhole
Number Kimberlite Kimberlite Thickness Depth
-----------------------------------------------------------
140-32 101.1 244.3 143.2 291.0
-----------------------------------------------------------
140-33 100.4 199.5 99.0 208.0
-----------------------------------------------------------
140-34 100.2 205.0 104.8 219.0
-----------------------------------------------------------
140-35 113.1 183.4 70.4 216.0
-----------------------------------------------------------
140-36(1) 99.0 139.6 40.6 142.0
-----------------------------------------------------------
140-37(1) 131.9 142.3 10.4 147.0
-----------------------------------------------------------
140-38 108.3 215.0 106.7 228.0
-----------------------------------------------------------
141-40 132.5 161.4 28.9 272.0
-----------------------------------------------------------
140-39 100.2 239.4 139.2 249.0
-----------------------------------------------------------
140-40 102.0 237.4 135.4 246.0
-----------------------------------------------------------
Totals: 878.7 m 2,218.0 m
-----------------------------------------------------------
1 = Drillhole terminated prematurely due to difficult ground.
Table 2: Summary of Drilling Progress On Kimberlite 148
(Provisional)
-----------------------------------------------------------
Drillhole Top of Bottom of Kimberlite Total Drillhole
Number Kimberlite Kimberlite Thickness Depth
-----------------------------------------------------------
148-01-03 92.4 251.2 158.8 258.0
-----------------------------------------------------------
148-02-03 93.7 201.5 107.9 231.0
-----------------------------------------------------------
148-03-03 92.8 203.9 111.1 216.0
-----------------------------------------------------------
148-04-03 99.2 153.4 54.2 186.0
-----------------------------------------------------------
148-05-03(1) n/a n/a n/a 67.0
-----------------------------------------------------------
148-05a-03 92.2 181.0 88.8 204.0
-----------------------------------------------------------
148-06-03 91.8 200.1 108.3 207.0
-----------------------------------------------------------
148-07-03 100.9 147.2 46.4 153.0
-----------------------------------------------------------
148-08-03 99.3 147.1 47.8 156.0
-----------------------------------------------------------
148-09-03 109.9 124.9 15.0 156.0
-----------------------------------------------------------
148-10-03 112.5 152.3 39.8 159.0
-----------------------------------------------------------
148-11-03 102.5 142.7 40.2 150.0
-----------------------------------------------------------
Totals: 818.3 2,143.0
-----------------------------------------------------------
1 = Drillhole terminated prematurely in overburden due to
drilling problems.
Using the expertise of proven management and world-class, experienced technical advisors, 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. 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
David H. Stone, President
TRADING SYMBOL: KRT-TSX.V
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
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 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
