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Post by Franko10 ™ on Jan 31, 2005 15:27:52 GMT -5
Kensington Resources Ltd.: Drilling Update for the 2004 Fort a la Corne Diamond Project Evaluation Program
VICTORIA, British Columbia -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) is pleased to report completion of 32 coreholes on five different kimberlite bodies located in the central cluster of the Fort a la Corne Kimberlite Field. In addition, large diameter drilling is well underway with completion of five holes located on the southern part of Kimberlite 140/141. The 2004 program is significant as it represents the largest and most aggressive program to date for the Fort a la Corne Diamond Project. CDN $7.6 million has been budgeted for this program and the objective is to further advance the geological understanding of high grade zones and their diamond content within the largest kimberlite cluster in the world.
"We are pleased to report that the program is progressing on schedule. We anticipate significant advances in the understanding of the kimberlite geology and delineation of high-grade zones in several of the targeted bodies," says Robert A. McCallum, President and CEO.
The drilling program was initiated on September 1, 2004 with coreholes targeted on kimberlite bodies 140/141 and 122 to act as pilot holes for large diameter drilling, and to increase confidence in current geological and diamond distribution models. Coreholes were also targeted on kimberlite bodies 120, 147, 121 and 221 in broad patterns to provide information and samples for development of geological models including identification of higher-grade zones, and to permit higher confidence grade forecasts. Geological models and diamond recoveries will be released together as results are received from the operator. A total of 3,482.32 metres of kimberlite have been cored from a total of 7,441 metres drilled. The core will be examined in detail by De Beers' petrologists in Saskatoon and sampled for microdiamonds. Microdiamonds will be recovered at the Saskatchewan Research Council after which they will be transferred to the De Beers Kimberley Microdiamond Laboratory (KMDL) for weighing and shape classification of each stone.
The 2004 program was expanded to permit up to ten large diameter minibulk drillholes (LDDH) positioned on high-grade zones in kimberlites 140/141 and 122. Five targets were located on the south 140/141 breccia beds to collect additional diamonds that will be used to increase the level of confidence in grade forecasts, and to provide preliminary valuations for revenue modeling by De Beers experts. The total estimated mass of kimberlite excavated from the five holes was 842.52 tonnes of which 496.26 tonnes of material greater than 1.5 mm in size were retained for macrodiamond recoveries. Forty-six samples of retained material were shipped to De Beers' dense media separation plant located in Grande Prairie, Alberta for the first stage of diamond recovery procedures.
For more details and photos on the 2004 field program, visit our website at www.kensington-resources.com. Summary tables for the current drilling progress are available and drillhole maps for each of the kimberlite bodies investigated in 2004 will be made available as they are received from the project operator.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. 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.
Kensington Resources Ltd. is a diamond development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Exploration Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After over fifteen years of exploration in Fort a la Corne, the joint venture partners are now planning future programs with a view to entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision within the next three years. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
Kensington Resources Ltd.
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
VICTORIA, British Columbia -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) is pleased to report completion of 32 coreholes on five different kimberlite bodies located in the central cluster of the Fort a la Corne Kimberlite Field. In addition, large diameter drilling is well underway with completion of five holes located on the southern part of Kimberlite 140/141. The 2004 program is significant as it represents the largest and most aggressive program to date for the Fort a la Corne Diamond Project. CDN $7.6 million has been budgeted for this program and the objective is to further advance the geological understanding of high grade zones and their diamond content within the largest kimberlite cluster in the world.
"We are pleased to report that the program is progressing on schedule. We anticipate significant advances in the understanding of the kimberlite geology and delineation of high-grade zones in several of the targeted bodies," says Robert A. McCallum, President and CEO.
The drilling program was initiated on September 1, 2004 with coreholes targeted on kimberlite bodies 140/141 and 122 to act as pilot holes for large diameter drilling, and to increase confidence in current geological and diamond distribution models. Coreholes were also targeted on kimberlite bodies 120, 147, 121 and 221 in broad patterns to provide information and samples for development of geological models including identification of higher-grade zones, and to permit higher confidence grade forecasts. Geological models and diamond recoveries will be released together as results are received from the operator. A total of 3,482.32 metres of kimberlite have been cored from a total of 7,441 metres drilled. The core will be examined in detail by De Beers' petrologists in Saskatoon and sampled for microdiamonds. Microdiamonds will be recovered at the Saskatchewan Research Council after which they will be transferred to the De Beers Kimberley Microdiamond Laboratory (KMDL) for weighing and shape classification of each stone.
The 2004 program was expanded to permit up to ten large diameter minibulk drillholes (LDDH) positioned on high-grade zones in kimberlites 140/141 and 122. Five targets were located on the south 140/141 breccia beds to collect additional diamonds that will be used to increase the level of confidence in grade forecasts, and to provide preliminary valuations for revenue modeling by De Beers experts. The total estimated mass of kimberlite excavated from the five holes was 842.52 tonnes of which 496.26 tonnes of material greater than 1.5 mm in size were retained for macrodiamond recoveries. Forty-six samples of retained material were shipped to De Beers' dense media separation plant located in Grande Prairie, Alberta for the first stage of diamond recovery procedures.
For more details and photos on the 2004 field program, visit our website at www.kensington-resources.com. Summary tables for the current drilling progress are available and drillhole maps for each of the kimberlite bodies investigated in 2004 will be made available as they are received from the project operator.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. 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.
Kensington Resources Ltd. is a diamond development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Exploration Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After over fifteen years of exploration in Fort a la Corne, the joint venture partners are now planning future programs with a view to entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision within the next three years. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
Kensington Resources Ltd.
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
