Spider/KWG receive results from Kyle No. 3
KWG Resources Inc KWGR
Shares issued 82,200,128 Jun 26 close $0.13
Tue 27 Jun 2000 News Release
See Spider Resources Inc (SPQ) News Release
Mr. Norman Brewster reports
Spider Resources and joint venture partner KWG Resources Inc. have received
the initial diamond results from the recent diamond drilling at the Kyle
No. 3 kimberlite located in the James Bay Lowlands area of Northern
Ontario. Lakefield Research Ltd. has recently completed the caustic
dissolution processing on 27 of the initial 36 samples submitted in late
April. A total of 619.82 kilograms of kimberlite has been processed
yielding 535 diamonds of which 17 were collected on a 425 micron screen. A
complete set of results has been received from only one hole No. 2000-01,
results from a further six holes are awaited. The initial results from hole
2000-01 have confirmed the presence of a zone containing elevated diamond
content, that is comparable with the results received from the 1995
exploration campaign where three of five holes intersected this zone. This
particular zone has been drill tested and extends from section 250 metres
east to 600 metres east, as defined by drill hole 95-42 on section 250E
that averaged 2.26 cpt over six metres (drilled length) through section 500
metres east, as defined by drill hole 95-43 that averaged 2.53 cpt over six
metres as well as recent drill hole 2000-01 that averaged 0.863 over six
metres, to section 600 metres east as defined by drill hole 95-1B that
averaged 1.57 cpt over six metres. Assuming these intersections represent a
single continuous intrusive phase, the weighted average based upon 60.57
kilograms of the dike is determined to be 1.683 cpt which includes 89
microdiamonds and 24 macrodiamonds. The zone appears to wane to the east on
section 700 metres east where it is represented by a narrow three-metre
wide (drill length) dike. The zone remains open and untested to the west
and to depth. The recent results from hole 2000-01 are as follows:
Micros
Hole From To Width (-0.425mm
No. (m) (m) screen)
2000-01 120.95 235.15 114.2 370
Incl. 227 233 6.0 55
Macros
Hole From To (+0.425mm Weight Grade
No. (m) screen) (kg) (cpt)*
2000-01 120.95 235.15 12 417.80 .149
Incl. 227 233 7 23.87 0.863
* Note that this grade estimate is from microdiamond plus macrodiamond
analysis of all of the kimberlite core submitted from the respective hole.
The recent drill program was designed to infill and expand upon a
previously established information base (including geology and geometry
along with diamond content as related to the geology) of this kimberlite
along its entire strike length (currently estimated by geophysics to be
around 700 metres) and also to a drilled depth of around 200 metres. The
seven drill holes that constituted the recent program totalled 1,599 metres
in length, each hole intersected the target kimberlite. Two holes were
drilled on section 400 mE, two on section 500 mE, two on section 600 mE and
one on section 700 mE. It is evident from the information gained to date,
that this kimberlite continues to be interpreted as dike -- like, with many
distinct phases, including one continuous (possibly late stage) phase that
is proven to have elevated diamond content. Upon receipt of the results
from the 60 outstanding samples, the next phase of drilling will continue
testing this kimberlite to the west through section 100 metres east.
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