News Release from your neighbour (Shore Gold)
SHORE GOLD INC. -- DIAMONDS DISCOVERY UPDATE
SASKATOON, April 17 /CNW/ - The company is pleased to provide a progress report on work completed to date on its 75% owned Fort a la Corne diamond lands (25% Rio Nevada Mines Corporation) and update the results reported January 8, 1997.
Assays from approximately 70% of the core samples submitted to the
Saskatchewan Research Council laboratory for analysis by caustic fusion have been received. Progress has been slower than anticipated due to technical problems with some of the kilns which significantly reduced the number of samples that could be processed at the same time.
To date, 170 diamonds have been recovered. The FALC 1 kimberlite has
produced 5 diamonds from 500 kg of sample and the western kimberlite (1.5 km to the west of FALC 1), represented by drill holes FALC 2, 3 and 4, has produced 165 diamonds from 525 kg of sample, which includes sedimentary units as well as primary kimberlite. As reported previously, the diamond quality is 90% clear and white with no inclusions and 60% of the diamonds exhibit excellent crystal structure
(octahedron, dodccahedron and multiple crystals) with 40% being fragments of larger crystals. Size distribution, based on the longest dimension, is: 1 diamond larger than 1mm, 3 diamonds measuring between 0.5mm and 1mm, and 7 diamonds measuring between 0.4mm and 0.5mm. The largest diamond recovered is 1.2mm.
The company continues to be extremely encouraged by the results from FALC 2, 3 and 4. Diamonds have now been recovered in FALC 3 over a 113 metre thick sequence of kimberlite and kimberlitic sediments, including, as described in the January 8, 1997 news release, the 35 metre thick unit containing significantly higher diamond counts than other zones in the sequence. This visually distinct zone has produced 154 diamonds from 305 kg of sample with FALC 3 and 4 being the best holes averaging 6 to 6.5 diamonds per 10 kg sample. Complete results for FALC 2 within this zone and for FALC 2 and 4 below it are still pending, but it is expected that they will produce a total diamond-bearing interval similar to that of FALC 3.
The western kimberlite body, based on current drilling, measures 1.3 km by 0.6 km. The geophysical data indicate a potential size of 2 km by 1.5 km. Tonnage estimates applied just to the zone yielding higher diamond counts would infer a potential resource of between 70,000,000 tonnes and 265,000,000 tonnes.
A $500,000 exploration program is currently being finalized and will
include further definition drilling of the existing kimberlite pipes, drilling of additional known magnetic targets, carrying out an airborne magnetic survey over the 20,000 acres not yet flown (owned 100% by Shore), and obtaining a large bulk sample for macrodiamond recovery and analysis. The program wil commence as soon as field conditions allow.
Shore Gold Inc. is a Saskatchewan-based corporation engaged in the
acquisition, exploration and development of mineral properties. Shares of the Company trade on The Alberta Stock Exchange. Symbol SGF.
``The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.'' |
