From: Winspear Resources Ltd. (WSP)
winspear.com
mailto:info@winspear.com
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Re: News Release - Monday, April 03, 2000
Update from Snap Lake Diamond Project
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Winspear Resources Ltd. (WSP-CDNX) is
pleased to provide an up-date to its on-going
Advanced Exploration Program (AEP) on the
Snap Lake Diamond Project located on the
Camsell Lake joint venture property. This
property is approximately 220 km northeast of
Yellowknife, NWT, and is controlled by the
Camsell Lake joint venture of which Winspear
is the majority owner and Operator. Both
Winspear and its joint venture partner have
committed to funding their respective share of
expenditures for the AEP.
Advanced Exploration Program:
Work is progressing well despite late
construction of the winter road that caused
minor delays. However, all critical items are on
site and the program is expected to be
completed as scheduled. At the present time,
approximately 175 people are on site. Work
accomplished to date includes:
- An 85-person camp complete with
kitchen/mess hall facilities for 150 has been
completed and is fully operational with
appropriate water and sewage facilities in place.
- A fuel farm with a capacity of 3,290,000 litres
has been constructed to environmentally
acceptable standards. The fuel tanks are 95%
full which is sufficient to complete the
advanced exploration program as planned.
- The decline has advanced approximately 50
metres beyond the collar. All appropriate
grouting, screening and rock-bolting is in place
and the office/dry area is established and
operational.
- Dams are presently being constructed for the
processed kimberlite facility.
- The airstrip has been roughed out over its
920m length. All rock blasting is complete and
haulage of blast rock and installation of culverts
is continuing. It is anticipated that the airstrip
will be serviceable by approximately April 15.
- The 10 tonne per hour test plant, purchased
late last year, has been dismantled and moved
to the Snap Lake site. This plant will be
constructed when weather conditions become
more favourable.
Exploration Program:
With three drills currently working, eight holes
(3164 metres) of a 10-hole program on the
NW dyke have been completed. The purpose
of this program is to test for down-dip
extensions of the NW dyke along the
southeastern and eastern limits of previous
drilling. One hole intersected 8.82m of
dominantly hypabyssal kimberlite with
associated kimberlite breccia - the thickest
intersection on the NW dyke to date. Four
other holes had intersections ranging from
2.59m to 3.36m. Three holes returned
thicknesses of less than two metres and are
interpreted to have intersected the thinner
southeastern margin of the NW dyke.
In addition to these holes, another 10 drill holes
collared on ice are planned to test the
down-dip extension of northwesterly dipping
kimberlite dykes intersected in the SE Arm of
Snap Lake. As ice on Snap Lake becomes
unsuitable for drilling, drill rigs will be moved to
the north shore to undertake another 2400
metres of drilling that will provide additional
information on the NW dyke within the
resource area.
A detailed helicopter-borne Mag/EM survey
totalling 1250 line-km at 100 metre line spacing
has been completed over the Lac Capot Blanc
area of the Camsell Lake property. Results of
this survey will be examined in detail in
preparation for further work in the
forthcoming months.
Ongoing Objectives:
The main objectives of this extensive
Advanced Exploration Program on the Snap
Lake Diamond Project are to have the airstrip
operational by mid-April, to complete the
underground sampling program, and to
process three 2000 tonne samples of
kimberlite before year-end. Exploration drilling
will also continue to test dyke extensions.
Winspear is highly encouraged with
developments to date in the present program.
With all fuel and equipment necessary on site,
timely completion of the Advanced Exploration
Program can be anticipated.
The Camsell Lake property is the only property
in which Winspear has an interest. Under terms
of a Plan of Arrangement that became
effective May 27, 1999, Winspear transferred
all its beneficial interest in other exploration
properties into Diamondex Resources Ltd.,
which is now a publicly traded company on the
CDNX.
Winspear Resources Ltd.
Randy C. Turner, P. Geo President and
Director
The Canadian Venture Exchange has not
reviewed and does not accept responsibility for
the adequacy or accuracy of the contents of
this news release.
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Copyright (c) 2000 WINSPEAR RESOURCES
LTD. (WSP) All rights reserved. For more
information visit our website at
winspear.com or send
mailto:info@winspear.com Message sent on
Mon Apr 3, 2000 at 6:01:37 PM Pacific Time
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