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Post by Franko10 ™ on Jan 31, 2005 14:43:21 GMT -5
Kensington Resources Ltd.: High Diamond Counts Continue for Microdiamond Program
VICTORIA, British Columbia--(BUSINESS WIRE)--March 22, 2004
Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) announces that it has received from the operator, De Beers Canada Exploration Inc., microdiamonds results for kimberlite body 140/141 of the Fort a la Corne Diamond Project in Saskatchewan. The principal objective of the Phase 1 program for Fall 2003 was to target the significantly higher-grade zone of kimberlite that was discovered in the 2002 program.
A total of 1,159 microdiamonds were recovered utilizing caustic dissolution methods from 595.15 kg of kimberlite core. A summary of diamond recovery by kimberlite phase is shown in the table below. The samples were obtained from six different HQ (2.5 inches or 63.5 mm diameter) drillhole intersections located in the southern part of the 140/141 kimberlite body which targeted higher grade zones. The "repeated graded beds" and the "breccia beds" immediately underlying them yielded the best stone abundances. The average microdiamond abundance for all 140/141 samples is 19.5 stones per 10 kg while the repeated graded beds and breccia beds yielded average microdiamond abundances of 22.5 and 21.6 stones per 10 kg, respectively. This is much higher than previous results for kimberlite body 140/141. A total of seven stones larger than 0.5 mm were recovered from the repeated graded beds and the breccia beds.
"We are very pleased with the progress that we have made on the 140/141 kimberlite body," said David H. Stone, President of Kensington. "These results, together with those previously reported from kimberlite body 148, demonstrate that the joint venture has been successful in targeting the enriched zones which we now know exist."
140/141 Microdiamond Results by Kimberlite Type
---------------------------------------------------------------------
Kimberlite Type Sample # of Average Stones
Mass (kg) Stones Stones/10kg larger than
0.500 mm
---------------------------------------------------------------------
Repeated Graded Beds 142.55 323 22.7 3
---------------------------------------------------------------------
Breccia Beds 274.90 593 21.6 4
---------------------------------------------------------------------
Other Kimberlite Units 68.00 109 16.0 0
---------------------------------------------------------------------
Speckled Beds 109.70 134 12.2 0
---------------------------------------------------------------------
Total: 595.15 1159 19.5 7
---------------------------------------------------------------------
As reported in the Company's news release of January 26, 2004, a clear, colourless diamond weighing 0.77 carats was recovered from the upper part of kimberlite body 140/141 during sample preparation of kimberlite core. The stone was recovered from a slabbed portion of the core situated between samples collected by the operator immediately above and below this horizon and is not included in the table above.
A more in-depth technical summary of the microdiamond results for kimberlite body 140/141, including photographs of the 0.77 carat diamond recovered from the slabbed core, can be viewed on the Company's website at www.kensington-resources.com.
Further results to be released from the Phase 1 program include microdiamond recovery from kimberlite bodies 122 and 150, as well as geological models and revised grade forecasts for kimberlites 140/141, 148, 122, and 150. The Phase 1 exploration program is budgeted at $3 million. Microdiamond and geology results from Phase 1 will facilitate decisions concerning a Phase 2 program during the spring and summer of 2004. The Company is well funded with approximately $2.5 million in the treasury.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. Microdiamond recovery was performed by Saskatchewan Research Council of Saskatoon. All aspects of quality assurance, quality control and sample chain of custody for the Fort a la Corne Joint Venture are managed by De Beers Canada Exploration Inc., the project operator.
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
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 2004 Business Wire
COPYRIGHT 2004 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--March 22, 2004
Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) announces that it has received from the operator, De Beers Canada Exploration Inc., microdiamonds results for kimberlite body 140/141 of the Fort a la Corne Diamond Project in Saskatchewan. The principal objective of the Phase 1 program for Fall 2003 was to target the significantly higher-grade zone of kimberlite that was discovered in the 2002 program.
A total of 1,159 microdiamonds were recovered utilizing caustic dissolution methods from 595.15 kg of kimberlite core. A summary of diamond recovery by kimberlite phase is shown in the table below. The samples were obtained from six different HQ (2.5 inches or 63.5 mm diameter) drillhole intersections located in the southern part of the 140/141 kimberlite body which targeted higher grade zones. The "repeated graded beds" and the "breccia beds" immediately underlying them yielded the best stone abundances. The average microdiamond abundance for all 140/141 samples is 19.5 stones per 10 kg while the repeated graded beds and breccia beds yielded average microdiamond abundances of 22.5 and 21.6 stones per 10 kg, respectively. This is much higher than previous results for kimberlite body 140/141. A total of seven stones larger than 0.5 mm were recovered from the repeated graded beds and the breccia beds.
"We are very pleased with the progress that we have made on the 140/141 kimberlite body," said David H. Stone, President of Kensington. "These results, together with those previously reported from kimberlite body 148, demonstrate that the joint venture has been successful in targeting the enriched zones which we now know exist."
140/141 Microdiamond Results by Kimberlite Type
---------------------------------------------------------------------
Kimberlite Type Sample # of Average Stones
Mass (kg) Stones Stones/10kg larger than
0.500 mm
---------------------------------------------------------------------
Repeated Graded Beds 142.55 323 22.7 3
---------------------------------------------------------------------
Breccia Beds 274.90 593 21.6 4
---------------------------------------------------------------------
Other Kimberlite Units 68.00 109 16.0 0
---------------------------------------------------------------------
Speckled Beds 109.70 134 12.2 0
---------------------------------------------------------------------
Total: 595.15 1159 19.5 7
---------------------------------------------------------------------
As reported in the Company's news release of January 26, 2004, a clear, colourless diamond weighing 0.77 carats was recovered from the upper part of kimberlite body 140/141 during sample preparation of kimberlite core. The stone was recovered from a slabbed portion of the core situated between samples collected by the operator immediately above and below this horizon and is not included in the table above.
A more in-depth technical summary of the microdiamond results for kimberlite body 140/141, including photographs of the 0.77 carat diamond recovered from the slabbed core, can be viewed on the Company's website at www.kensington-resources.com.
Further results to be released from the Phase 1 program include microdiamond recovery from kimberlite bodies 122 and 150, as well as geological models and revised grade forecasts for kimberlites 140/141, 148, 122, and 150. The Phase 1 exploration program is budgeted at $3 million. Microdiamond and geology results from Phase 1 will facilitate decisions concerning a Phase 2 program during the spring and summer of 2004. The Company is well funded with approximately $2.5 million in the treasury.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. Microdiamond recovery was performed by Saskatchewan Research Council of Saskatoon. All aspects of quality assurance, quality control and sample chain of custody for the Fort a la Corne Joint Venture are managed by De Beers Canada Exploration Inc., the project operator.
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
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 2004 Business Wire
COPYRIGHT 2004 Gale Group
