Post by Franko10 ™ on Apr 11, 2005 16:40:36 GMT -5
Kensington Resources Ltd.: Fort a la Corne Joint Venture Partners Identify Kimberlite Drilling Priorities for the 2005 Exploration and Evaluation Program (bwire)
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) together with their Joint Venture partners, De Beers Canada Inc. (project operators) and Cameco Corporation have identified fourteen kimberlite targets, and the order in which core drilling work will proceed for the 2005 Advanced Exploration and Evaluation (AE&E) program.
Robert A. McCallum, President and CEO of Kensington Resources Ltd. states, "At the start of the largest and most comprehensive program ever undertaken at Fort a la Corne we look forward, not only, to a steady stream of news but also to the potential of advancing these prospective kimberlite bodies."
The current program budget announced at CAN$25.6 million will be applied to the first stage geological drilling of up to fourteen kimberlites in the southern cluster of the joint venture claims. The fourteen kimberlites to be investigated were selected and prioritized by a technical team comprised of representatives of each of the joint venture partners. These fourteen kimberlites are bodies that have not been explored in recent years. Their selection is based on size, potential for high-grade zones, kimberlite characteristics, and historic diamond recoveries. This selection excludes kimberlite bodies which were core-drilled or mini-bulked tested in 2004. The extension of the Star kimberlite into the Joint Venture property and the nearby kimberlite body 134 has been identified as a top priority in the 2005 program.
For planning purposes, the Joint Venture partners have authorized a total of 130 HQ coreholes (diameter of 2.5 inches or 63.5 mm) during the 2005 program on the fourteen kimberlites with the knowledge that the final number of holes per body will depend upon evaluation needs and the size of the individual kimberlite targets. The 130 new 2005 core holes have been distributed over the 14 bodies on individual grids of approximately 150-200 metres. Microdiamond sampling has been budgeted for approximately 10,000 kilograms of core.
In addition to this drilling and sampling, the AE&E budget for 2005 makes provision for the following work:
- Update conceptual study to include mining of multiple pits.
- Delineation drilling of up to three kimberlite bodies to determine potential ore tonnages.
- Minibulk sampling of one kimberlite to obtain approximately 580t of kimberlite for treatment in order to obtain a higher level of confidence in grade forecasting and average value of commercial sized macrodiamonds.
- Develop a preliminary geotechnical mine design model.
- Commence investigation into, and develop possible alternative mining strategies and investigate waste management concepts.
- Commence development of future infrastructure requirements.
- Develop preliminary metallurgical process concepts and develop a bulk sampling plant operational strategy.
- Develop an environmental baseline plan for the central cluster area.
The program is scheduled to commence in May 2005 and to be completed by February 2006. Following evaluation of all 2004 drilling results in July 2005, a decision will be made on the scope and target of the 2005 minibulk sampling program. The next project decision milestone will be based on results following the completion of the geological drilling phase of the AE&E program in early 2006. The exploration camp is set up and on standby pending the acquisition of exploration permits.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein.
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 in 2008. 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
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)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
1-800-514-7859 or (604) 682-0020
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
1-800-710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) together with their Joint Venture partners, De Beers Canada Inc. (project operators) and Cameco Corporation have identified fourteen kimberlite targets, and the order in which core drilling work will proceed for the 2005 Advanced Exploration and Evaluation (AE&E) program.
Robert A. McCallum, President and CEO of Kensington Resources Ltd. states, "At the start of the largest and most comprehensive program ever undertaken at Fort a la Corne we look forward, not only, to a steady stream of news but also to the potential of advancing these prospective kimberlite bodies."
The current program budget announced at CAN$25.6 million will be applied to the first stage geological drilling of up to fourteen kimberlites in the southern cluster of the joint venture claims. The fourteen kimberlites to be investigated were selected and prioritized by a technical team comprised of representatives of each of the joint venture partners. These fourteen kimberlites are bodies that have not been explored in recent years. Their selection is based on size, potential for high-grade zones, kimberlite characteristics, and historic diamond recoveries. This selection excludes kimberlite bodies which were core-drilled or mini-bulked tested in 2004. The extension of the Star kimberlite into the Joint Venture property and the nearby kimberlite body 134 has been identified as a top priority in the 2005 program.
For planning purposes, the Joint Venture partners have authorized a total of 130 HQ coreholes (diameter of 2.5 inches or 63.5 mm) during the 2005 program on the fourteen kimberlites with the knowledge that the final number of holes per body will depend upon evaluation needs and the size of the individual kimberlite targets. The 130 new 2005 core holes have been distributed over the 14 bodies on individual grids of approximately 150-200 metres. Microdiamond sampling has been budgeted for approximately 10,000 kilograms of core.
In addition to this drilling and sampling, the AE&E budget for 2005 makes provision for the following work:
- Update conceptual study to include mining of multiple pits.
- Delineation drilling of up to three kimberlite bodies to determine potential ore tonnages.
- Minibulk sampling of one kimberlite to obtain approximately 580t of kimberlite for treatment in order to obtain a higher level of confidence in grade forecasting and average value of commercial sized macrodiamonds.
- Develop a preliminary geotechnical mine design model.
- Commence investigation into, and develop possible alternative mining strategies and investigate waste management concepts.
- Commence development of future infrastructure requirements.
- Develop preliminary metallurgical process concepts and develop a bulk sampling plant operational strategy.
- Develop an environmental baseline plan for the central cluster area.
The program is scheduled to commence in May 2005 and to be completed by February 2006. Following evaluation of all 2004 drilling results in July 2005, a decision will be made on the scope and target of the 2005 minibulk sampling program. The next project decision milestone will be based on results following the completion of the geological drilling phase of the AE&E program in early 2006. The exploration camp is set up and on standby pending the acquisition of exploration permits.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein.
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 in 2008. 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
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)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
1-800-514-7859 or (604) 682-0020
Fax: (604) 682-0021
rob-mccallum@kensington-resources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
1-800-710-6083
mel-gardner@kensington-resources.com
www.kensington-resources.com