Owner
Post by Franko10 ™ on Feb 14, 2005 9:02:31 GMT -5
Kensington Resources Ltd.: 2004-2005 Drilling Program Successfully Completed
2/14/2005 9:05:22 AM
VICTORIA, BRITISH COLUMBIA, Feb 14, 2005 (CCNMatthews via COMTEX) -- Kensington Resources Ltd. (the "Company") (CA:KRT) is pleased to provide an update of the recent Joint Venture drilling program at the Fort a la Corne Diamond Project. A total of 39 coreholes were completed into six different kimberlites located in the central cluster of the Fort a la Corne Kimberlite Field. In addition, minibulk samples were successfully collected from two high priority kimberlites using large diameter reverse circulation drillholes (36 inch, or 914.4 mm diameter). The 2004-2005 program is significant as it represents an aggressive program budgeted at CDN $7.6 million with the objective to further advance the geological understanding of multiple higher grade zones and their diamond content within the largest kimberlite cluster in the world.
"We are pleased to report that the field program was successfully completed. We anticipate further success for diamond recovery from these minibulk samples. Diamond recovery is progressing on schedule at high security De Beers facilities in Grande Prairie, AB and Johannesburg, RSA and have been accorded top priority status by De Beers in recognition of the importance of FalC results to the evaluation program and to the timely release of this information to Kensington investors," says Robert A. McCallum, President and CEO.
Further to strengthening investor confidence in the Joint Venture operator and evaluation procedures, an independent audit of the final macrodiamond facility in Johannesburg currently is underway by Venmyn Rand (Pty) Limited, a leading African consulting firm utilizing diamond recovery experts. At the same time, Kensington's Qualified Person, Brent Jellicoe, P.Geo is in Johannesburg monitoring both the diamond recovery procedures and the Venmyn audit. In light of recent long term planning for advanced exploration and evaluation programs and transparency in diamond recovery processes, Robert McCallum suggests "There is a sense of urgency within the Joint Venture that is being partly driven by increasing demand for diamonds and the need to fast track a project with this potential. This urgency is now leading the drive to advance the Fort a la Corne diamond-bearing kimberlites."
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 the development of geological models, including identification of higher-grade zones, and to provide initial grade estimates. Geological models and microdiamond recoveries for each of the six kimberlite bodies will be released together as results are received from the operator. A total of 3,677.25 metres of kimberlite were cored from a total of 7,923.0 metres drilled on kimberlite delineation targets. Core from these bodies has been examined in detail by De Beers' petrologists in Saskatoon and sampled for microdiamonds. Microdiamonds are being recovered at the Saskatchewan Research Council. An additional 874 metres of drilling was targeted on five geophysical anomalies. Short intervals of kimberlite were intersected in two of these locations and the use of geophysical models for kimberlite exploration will be further evaluated during 2005.
The 2004 program was expanded to ten large diameter minibulk drillholes (LDDH) positioned on higher-grade zones in kimberlites 140/141 and 122. As previously reported (KRT news release of November 17, 2004), five holes 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 extracted from the five holes has been revised to 752 tonnes of which 496 tonnes of material greater than 1.5 mm in size were retained for macrodiamond recoveries. Fifty-two samples of retained material were shipped to De Beers' dense media separation plant located in Grande Prairie, Alberta.
Five large diameter drillholes were located on the south crater of the 122 kimberlite. Although, only three holes permitted collection of substantial kimberlite material, the thick intersections in two of the holes was estimated to be sufficient to reach the carat target for this body. In all, 707 tonnes of kimberlite were extracted of which 318 tonnes were retained for macrodiamond recoveries in 45 samples.
Drilling for the 2004-2005 program was completed on January 22, 2005 and the camp remains on standby until field operations for the advanced exploration and evaluation program resumes in the second quarter of 2005. Drillhole maps for each of the kimberlite bodies investigated in 2004-05 will be made available on the Company's website 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 Inc., the project operator.
Kensington Resources Ltd. is an exploration and mine 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 a 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 Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at 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
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
SUPPLEMENTAL TABLES TO FEBRUARY 14, 2005 NEWS RELEASE
Table 1: Coreholes to Act as Pilot Holes on Kimberlite Bodies
140 and 122
---------------------------------------------------------------------
---------------------------------------------------------------------
Kimberlite Top of Base of Total End of
Body and Core Kimberlite Kimberlite Kimberlite Hole
Drill hole # Size(1) (m) (m) Intersection(2) (m)
---------------------------------------------------------------------
---------------------------------------------------------------------
04-140-041 HQ core 97.40 246.00 128.28 252.00
---------------------------------------------------------------------
04-140-042 HQ core 97.56 241.22 140.76 243.00
---------------------------------------------------------------------
04-140-043 HQ core 100.57 232.35 124.89 236.00
---------------------------------------------------------------------
04-140-048 NQ core 104.90 137.66 58.65 180.00
---------------------------------------------------------------------
04-140-050 HQ core 100.19 236.62 131.59 243.00
---------------------------------------------------------------------
Total 584.17 1,154.00
---------------------------------------------------------------------
04-122-012 HQ core n/a n/a n/a 102.00
---------------------------------------------------------------------
04-122-012A(3) HQ core 108.00 313.15 202.88 357.00
---------------------------------------------------------------------
04-122-013 HQ core 114.00 200.37 86.37 213.00
---------------------------------------------------------------------
04-122-014 HQ core 110.45 299.00 176.80 299.00
---------------------------------------------------------------------
04-122-019 HQ core 107.24 314.65 207.41 345.00
---------------------------------------------------------------------
Total 673.46 1,316.00
---------------------------------------------------------------------
(1) HQ core has a diameter of 2.5 inches or 63.5 mm; NQ core has a
diameter of 1.875 inches or 47.6 mm.
(2) These values may not be equal to Base of Kimberlite minus Top of
Kimberlite due to intervening layers of country rock
(3) Drillhole 04-122-012 was lost due to drilling difficulties at a
depth of 102 metres.
Table 2: Coreholes on Kimberlite Bodies 120, 121, 221 and 147 to
Identify Higher Grade Zones
---------------------------------------------------------------------
---------------------------------------------------------------------
2/14/2005 9:05:22 AM
VICTORIA, BRITISH COLUMBIA, Feb 14, 2005 (CCNMatthews via COMTEX) -- Kensington Resources Ltd. (the "Company") (CA:KRT) is pleased to provide an update of the recent Joint Venture drilling program at the Fort a la Corne Diamond Project. A total of 39 coreholes were completed into six different kimberlites located in the central cluster of the Fort a la Corne Kimberlite Field. In addition, minibulk samples were successfully collected from two high priority kimberlites using large diameter reverse circulation drillholes (36 inch, or 914.4 mm diameter). The 2004-2005 program is significant as it represents an aggressive program budgeted at CDN $7.6 million with the objective to further advance the geological understanding of multiple higher grade zones and their diamond content within the largest kimberlite cluster in the world.
"We are pleased to report that the field program was successfully completed. We anticipate further success for diamond recovery from these minibulk samples. Diamond recovery is progressing on schedule at high security De Beers facilities in Grande Prairie, AB and Johannesburg, RSA and have been accorded top priority status by De Beers in recognition of the importance of FalC results to the evaluation program and to the timely release of this information to Kensington investors," says Robert A. McCallum, President and CEO.
Further to strengthening investor confidence in the Joint Venture operator and evaluation procedures, an independent audit of the final macrodiamond facility in Johannesburg currently is underway by Venmyn Rand (Pty) Limited, a leading African consulting firm utilizing diamond recovery experts. At the same time, Kensington's Qualified Person, Brent Jellicoe, P.Geo is in Johannesburg monitoring both the diamond recovery procedures and the Venmyn audit. In light of recent long term planning for advanced exploration and evaluation programs and transparency in diamond recovery processes, Robert McCallum suggests "There is a sense of urgency within the Joint Venture that is being partly driven by increasing demand for diamonds and the need to fast track a project with this potential. This urgency is now leading the drive to advance the Fort a la Corne diamond-bearing kimberlites."
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 the development of geological models, including identification of higher-grade zones, and to provide initial grade estimates. Geological models and microdiamond recoveries for each of the six kimberlite bodies will be released together as results are received from the operator. A total of 3,677.25 metres of kimberlite were cored from a total of 7,923.0 metres drilled on kimberlite delineation targets. Core from these bodies has been examined in detail by De Beers' petrologists in Saskatoon and sampled for microdiamonds. Microdiamonds are being recovered at the Saskatchewan Research Council. An additional 874 metres of drilling was targeted on five geophysical anomalies. Short intervals of kimberlite were intersected in two of these locations and the use of geophysical models for kimberlite exploration will be further evaluated during 2005.
The 2004 program was expanded to ten large diameter minibulk drillholes (LDDH) positioned on higher-grade zones in kimberlites 140/141 and 122. As previously reported (KRT news release of November 17, 2004), five holes 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 extracted from the five holes has been revised to 752 tonnes of which 496 tonnes of material greater than 1.5 mm in size were retained for macrodiamond recoveries. Fifty-two samples of retained material were shipped to De Beers' dense media separation plant located in Grande Prairie, Alberta.
Five large diameter drillholes were located on the south crater of the 122 kimberlite. Although, only three holes permitted collection of substantial kimberlite material, the thick intersections in two of the holes was estimated to be sufficient to reach the carat target for this body. In all, 707 tonnes of kimberlite were extracted of which 318 tonnes were retained for macrodiamond recoveries in 45 samples.
Drilling for the 2004-2005 program was completed on January 22, 2005 and the camp remains on standby until field operations for the advanced exploration and evaluation program resumes in the second quarter of 2005. Drillhole maps for each of the kimberlite bodies investigated in 2004-05 will be made available on the Company's website 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 Inc., the project operator.
Kensington Resources Ltd. is an exploration and mine 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 a 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 Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After fifteen years of exploration at 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
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
SUPPLEMENTAL TABLES TO FEBRUARY 14, 2005 NEWS RELEASE
Table 1: Coreholes to Act as Pilot Holes on Kimberlite Bodies
140 and 122
---------------------------------------------------------------------
---------------------------------------------------------------------
Kimberlite Top of Base of Total End of
Body and Core Kimberlite Kimberlite Kimberlite Hole
Drill hole # Size(1) (m) (m) Intersection(2) (m)
---------------------------------------------------------------------
---------------------------------------------------------------------
04-140-041 HQ core 97.40 246.00 128.28 252.00
---------------------------------------------------------------------
04-140-042 HQ core 97.56 241.22 140.76 243.00
---------------------------------------------------------------------
04-140-043 HQ core 100.57 232.35 124.89 236.00
---------------------------------------------------------------------
04-140-048 NQ core 104.90 137.66 58.65 180.00
---------------------------------------------------------------------
04-140-050 HQ core 100.19 236.62 131.59 243.00
---------------------------------------------------------------------
Total 584.17 1,154.00
---------------------------------------------------------------------
04-122-012 HQ core n/a n/a n/a 102.00
---------------------------------------------------------------------
04-122-012A(3) HQ core 108.00 313.15 202.88 357.00
---------------------------------------------------------------------
04-122-013 HQ core 114.00 200.37 86.37 213.00
---------------------------------------------------------------------
04-122-014 HQ core 110.45 299.00 176.80 299.00
---------------------------------------------------------------------
04-122-019 HQ core 107.24 314.65 207.41 345.00
---------------------------------------------------------------------
Total 673.46 1,316.00
---------------------------------------------------------------------
(1) HQ core has a diameter of 2.5 inches or 63.5 mm; NQ core has a
diameter of 1.875 inches or 47.6 mm.
(2) These values may not be equal to Base of Kimberlite minus Top of
Kimberlite due to intervening layers of country rock
(3) Drillhole 04-122-012 was lost due to drilling difficulties at a
depth of 102 metres.
Table 2: Coreholes on Kimberlite Bodies 120, 121, 221 and 147 to
Identify Higher Grade Zones
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---------------------------------------------------------------------
