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Post by Franko10 ™ on Jan 31, 2005 15:22:09 GMT -5
Over 50 Guests Attend Fort A La Corne Site Visit Hosted By Kensington Resources Ltd
FORT A LA CORNE, Saskatchewan -- A detailed update and outline of the 2004/2005 exploration mini-bulk sampling program for the Fort a la Corne (FALC) diamond project was presented to over 50 guests on a visit to the project site this week. The joint venture (JV) hosted guests from government, the financial sector, local Aboriginal groups and the media.
The JV partners welcomed the Honourable Eric Cline, Minister of Industry and Resources, the Honourable Maynard Sonntag, Minister of Aboriginal Affairs, Deputy Minister Larry Spannier, and local members of municipal and provincial governments. The site tour included a formal presentation by Robert McCallum, President and CEO of Kensington Resources Ltd. and Richard Molyneux, President and CEO, De Beers Canada, as well as a technical update on the project by the De Beers project manager, Andrew Williams.
"We at Kensington Resources Ltd. are on a mission to bring awareness and attention to the fact that there are diamonds in Saskatchewan - not just a few, but a tremendous diamond potential," said Robert A. McCallum. Mr. McCallum's speech also emphasized the solid working relationship that exists between the Joint Venture partners. "We recognize that De Beers Canada, with their 100 years of experience, vast resources, state of the art facilities and skilled and experienced people are the Partner of Choice for a Canadian junior. We feel fortunate to have them as project operators for this promising, immense and complex project."
In his presentation, Richard Molyneux, provided a global context for the diamond project in Saskatchewan, emphasizing De Beers Canada's focus on moving projects such as FALC, through to evaluation as quickly as possible in order to meet growing demand for diamonds. "The economic growth in China, and recovery in Japan, the continued strong demand for diamonds in the US and the success of De Beers' new marketing strategy, have all contributed to a supply demand gap," he said.
Mr. Molyneux emphasized the need for a realistic understanding of the technical challenges and the time required to develop a mine. "The restructured Joint Venture management team are looking at new approaches and seeking innovative technologies which may accelerate this timeline," he said.
"The Joint Venture has invested over $30 million in this project and we have now reached a point where we are intent on reaching a final evaluation and on making a decision," said Richard Molyneux. "De Beers is examining its global exploration projects and will be identifying the most promising for fast tracking. We hope to have sufficient information at the end of this work project to present a strong case for Fort a la Corne to be one of the selected projects."
The current work project is planned for completion by March 31, 2005.
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 diamond project 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.
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.
KENSINGTON RESOURCES LTD. (TSX VENTURE:KRT)
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
FORT A LA CORNE, Saskatchewan -- A detailed update and outline of the 2004/2005 exploration mini-bulk sampling program for the Fort a la Corne (FALC) diamond project was presented to over 50 guests on a visit to the project site this week. The joint venture (JV) hosted guests from government, the financial sector, local Aboriginal groups and the media.
The JV partners welcomed the Honourable Eric Cline, Minister of Industry and Resources, the Honourable Maynard Sonntag, Minister of Aboriginal Affairs, Deputy Minister Larry Spannier, and local members of municipal and provincial governments. The site tour included a formal presentation by Robert McCallum, President and CEO of Kensington Resources Ltd. and Richard Molyneux, President and CEO, De Beers Canada, as well as a technical update on the project by the De Beers project manager, Andrew Williams.
"We at Kensington Resources Ltd. are on a mission to bring awareness and attention to the fact that there are diamonds in Saskatchewan - not just a few, but a tremendous diamond potential," said Robert A. McCallum. Mr. McCallum's speech also emphasized the solid working relationship that exists between the Joint Venture partners. "We recognize that De Beers Canada, with their 100 years of experience, vast resources, state of the art facilities and skilled and experienced people are the Partner of Choice for a Canadian junior. We feel fortunate to have them as project operators for this promising, immense and complex project."
In his presentation, Richard Molyneux, provided a global context for the diamond project in Saskatchewan, emphasizing De Beers Canada's focus on moving projects such as FALC, through to evaluation as quickly as possible in order to meet growing demand for diamonds. "The economic growth in China, and recovery in Japan, the continued strong demand for diamonds in the US and the success of De Beers' new marketing strategy, have all contributed to a supply demand gap," he said.
Mr. Molyneux emphasized the need for a realistic understanding of the technical challenges and the time required to develop a mine. "The restructured Joint Venture management team are looking at new approaches and seeking innovative technologies which may accelerate this timeline," he said.
"The Joint Venture has invested over $30 million in this project and we have now reached a point where we are intent on reaching a final evaluation and on making a decision," said Richard Molyneux. "De Beers is examining its global exploration projects and will be identifying the most promising for fast tracking. We hope to have sufficient information at the end of this work project to present a strong case for Fort a la Corne to be one of the selected projects."
The current work project is planned for completion by March 31, 2005.
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 diamond project 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.
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.
KENSINGTON RESOURCES LTD. (TSX VENTURE:KRT)
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
