Post by Franko10 ™ on Jun 13, 2005 18:17:23 GMT -5
Kensington Resources Ltd. Announces Progress on 2005 Drilling Program (bwire)
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) announces an update on drilling of high interest targets in the south Fort a la Corne cluster. A total of 38 HQ coreholes (diameter of 2.5 inches or 63.5 mm) with intersections totaling 2,920.9 metres have been completed on eight kimberlite bodies including the western part of the Star Kimberlite. A minimum of 130 HQ coreholes are planned during the 2005 program which is budgeted at CDN $25.6 million.
Drilling on the western portion of the Star Kimberlite was one of the top priority targets in the 2005 drill program.
"We are pleased to confirm evidence of thick intervals of Early Joli Fou kimberlite in three of the coreholes," says Robert McCallum, President and CEO Kensington Resources Ltd. "We expect that a substantial amount of Star Kimberlite exists on Joint Venture land. The Early Joli Fou provided successful grade and value results for Shore Gold, and we want to determine whether the Joint Venture portion offers the same potential economic opportunities."
Fifteen coreholes have been planned for the Star Kimberlite to investigate the westward extent of prospective Early Joli Fou high-grade kimberlite that extends onto the Joint Venture boundary. Eight coreholes have been completed with a combined total intersection of 394.9 metres of kimberlite from 1,679.0 metres of drilling. Individual intersections of kimberlite range from 8.8 to 118.95 metres. The identification of Early Joli Fou kimberlite was based on comparison of core to detailed kimberlite descriptions available in public domain assessment reports (Saskatchewan Industry and Resources) and to data from Shore Gold Inc. technical reports on SEDAR.
Drilling continues on the property with three Boart-Longyear LF-70 core rigs operating on 24 hour schedules. Table One shows a summary of drilling results to date for all of the kimberlite bodies investigated this year.
Table One: Fort a la Corne Joint Venture Core Drilling
Summary to June 11, 2005
-------------------------------------------------------------------
Number Number Number Total Thickest
of of of Total Kimber- Kimber-
Kimber- Core- Core- Core- Drilled lite lite
lite holes holes in holes Interval Interval Interval
Body Planned Progress Completed (m) (m) (m)
-------------------------------------------------------------------
Star 15 0 8 1,679.0 394.9 118.95
-------------------------------------------------------------------
134 5 0 5 1,134.0 474.4 145.1
-------------------------------------------------------------------
145 11 0 10 2,283.0 974.9 176.5
-------------------------------------------------------------------
219 12 1 10 2,219.6 812.9 208.1
-------------------------------------------------------------------
133 6 1 1 228.0 36.9 36.9
-------------------------------------------------------------------
119 6 1 2 432.0 73.9 44.6
-------------------------------------------------------------------
140 1 0 1 249.0 148.5
-------------------------------------------------------------------
150 1 0 1 249.0 4.5
-------------------------------------------------------------------
Total: 57 3 38 8,473.6 2,920.9
-------------------------------------------------------------------
Other conceptual studies that are included in the Advanced Exploration and Evaluation (AE&E) Plan are progressing under the joint management of De Beers Canada Inc. and their alliance partner, AMEC. "Kensington Resources Ltd. leads several of these initiatives, particularly in the development of mining, waste management and infrastructure concepts and development of government liaison strategies," states Robert A. McCallum. "It should be noted that including traditional pre-feasibility steps at this stage of our program demonstrates the Joint Venture's desire to reach a production decision as soon as possible in response to the world diamond supply shortfall."
The first phase of the AE&E Plan will mainly consist of geological drilling and microdiamond analysis to determine the internal geology and grades of the targeted kimberlites.
For additional information concerning the 2005 drilling results, please see our website at www.kensington-resources.com.
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 have entered 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
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)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensingtonresources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
(800) 710-6083
mel-gardner@kensington-resources.com
www.kensingtonresources.com
VANCOUVER, British Columbia (Business Wire) -- Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT) announces an update on drilling of high interest targets in the south Fort a la Corne cluster. A total of 38 HQ coreholes (diameter of 2.5 inches or 63.5 mm) with intersections totaling 2,920.9 metres have been completed on eight kimberlite bodies including the western part of the Star Kimberlite. A minimum of 130 HQ coreholes are planned during the 2005 program which is budgeted at CDN $25.6 million.
Drilling on the western portion of the Star Kimberlite was one of the top priority targets in the 2005 drill program.
"We are pleased to confirm evidence of thick intervals of Early Joli Fou kimberlite in three of the coreholes," says Robert McCallum, President and CEO Kensington Resources Ltd. "We expect that a substantial amount of Star Kimberlite exists on Joint Venture land. The Early Joli Fou provided successful grade and value results for Shore Gold, and we want to determine whether the Joint Venture portion offers the same potential economic opportunities."
Fifteen coreholes have been planned for the Star Kimberlite to investigate the westward extent of prospective Early Joli Fou high-grade kimberlite that extends onto the Joint Venture boundary. Eight coreholes have been completed with a combined total intersection of 394.9 metres of kimberlite from 1,679.0 metres of drilling. Individual intersections of kimberlite range from 8.8 to 118.95 metres. The identification of Early Joli Fou kimberlite was based on comparison of core to detailed kimberlite descriptions available in public domain assessment reports (Saskatchewan Industry and Resources) and to data from Shore Gold Inc. technical reports on SEDAR.
Drilling continues on the property with three Boart-Longyear LF-70 core rigs operating on 24 hour schedules. Table One shows a summary of drilling results to date for all of the kimberlite bodies investigated this year.
Table One: Fort a la Corne Joint Venture Core Drilling
Summary to June 11, 2005
-------------------------------------------------------------------
Number Number Number Total Thickest
of of of Total Kimber- Kimber-
Kimber- Core- Core- Core- Drilled lite lite
lite holes holes in holes Interval Interval Interval
Body Planned Progress Completed (m) (m) (m)
-------------------------------------------------------------------
Star 15 0 8 1,679.0 394.9 118.95
-------------------------------------------------------------------
134 5 0 5 1,134.0 474.4 145.1
-------------------------------------------------------------------
145 11 0 10 2,283.0 974.9 176.5
-------------------------------------------------------------------
219 12 1 10 2,219.6 812.9 208.1
-------------------------------------------------------------------
133 6 1 1 228.0 36.9 36.9
-------------------------------------------------------------------
119 6 1 2 432.0 73.9 44.6
-------------------------------------------------------------------
140 1 0 1 249.0 148.5
-------------------------------------------------------------------
150 1 0 1 249.0 4.5
-------------------------------------------------------------------
Total: 57 3 38 8,473.6 2,920.9
-------------------------------------------------------------------
Other conceptual studies that are included in the Advanced Exploration and Evaluation (AE&E) Plan are progressing under the joint management of De Beers Canada Inc. and their alliance partner, AMEC. "Kensington Resources Ltd. leads several of these initiatives, particularly in the development of mining, waste management and infrastructure concepts and development of government liaison strategies," states Robert A. McCallum. "It should be noted that including traditional pre-feasibility steps at this stage of our program demonstrates the Joint Venture's desire to reach a production decision as soon as possible in response to the world diamond supply shortfall."
The first phase of the AE&E Plan will mainly consist of geological drilling and microdiamond analysis to determine the internal geology and grades of the targeted kimberlites.
For additional information concerning the 2005 drilling results, please see our website at www.kensington-resources.com.
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 have entered 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
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)
Kensington Resources Ltd.
Robert A. McCallum
President & CEO
(604) 682-0020 or Toll Free: 1-800-514-7859
Fax: (604) 682-0021
rob-mccallum@kensingtonresources.com
OR
Kensington Resources Ltd.
Mel Gardner
Manager Investor Relations
(800) 710-6083
mel-gardner@kensington-resources.com
www.kensingtonresources.com