Twin Gold discovers additional kimberlite dykes
Twin Gold Corp
TWG
Shares issued 44,829,072
1999-10-25 close $0.4
Tuesday Oct 26 1999
Mr. Hermann Derbuch reports
Twin Gold Corp. has discovered an additional set of kimberlite
dykes (TORNGAT SOUTH). These dykes outcrop approximately
10 kilometres southwest of TORNGAT 1, 2 and 3. At least four
large dykes were identified with the largest estimated to be plus or
minus three metres in width. All dykes are clearly visible in a
1,200-foot, near vertical, cliff at the mouth of the Baufremont
River. A 27.48-kilogram grab sample from the new discovery was
analyzed by Lakefield Research and yielded seven microdiamonds.
The diamonds are of consistently high preservation between 95 per
cent and and 75 per cent, all white and all transparent to translucent.
Dr. Bruce Jago of Lakefield Research stated, "The occurrence of
these diamonds and their high quality are a very encouraging sign for
the magnitude of the project."
Air photos indicate lineaments joining TORNGAT 1, 2 and 3 with
the new TORNGAT SOUTH discovery. Geophysical surveys are
planned to confirm their geological continuity. In addition, a
helicopter survey of the property showed lineaments and features,
similar to those observed at TORNGAT 1, in four locations over 10
kilometres to the northeast beyond TORNGAT 1.
Dallas Davis, Twin Gold's director of diamond mining, said: "These
new discoveries extend the diamond potential for the area
dramatically to a minimum of 20 kilometres and define in northern
Quebec a kimberlite province with up to 2.6 diamonds per kilogram,
established to date. I am happy to be part of such a
once-in-a-lifetime opportunity to make a major discovery."
Because of the open exposure of diamond-bearing kimberlite dykes,
Twin Gold is in a position, only four months after staking the
discovery claim, to proceed with drill target selection and bulk
sampling to establish and define an orebody. A magnetometer
survey is planned as early as possible during the winter months to
further define the dykes and investigate surface features, that is,
surface depressions, for the potential of kimberlite pipes.
To protect its discoveries, Twin Gold has increased its
100-per-cent-owned land position to 444 square kilometres,
covering a strike length of 33 kilometres.
Twin Gold, in addition to exploring the diamond prospect on the
east side of the Ungava Bay in northern Quebec, is also an emerging
producer of a low-cost gold mining project of one million ounces of
gold and 3.2 million ounces of silver reserves in Idaho, U.S.A.
(c) Copyright 1999 Canjex Publishing Ltd.
canada-stockwatch.com
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NR also posted here:
newswire.ca
Twin Gold website: twingold.com
Cheers,
-j
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