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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: High Grader who wrote (4799)6/7/2000 1:16:00 PM
From: Richard Cushnie  Read Replies (1) of 5206
 
Looks like it will be time to move back into this one in a few months when they hit the 20's again.

Kensington to undertake $2-million drilling program

Kensington Resources Ltd KRT
Shares issued 30,750,685 Jun 6 close $0.42
Wed 7 Jun 2000 News Release
Following Kensington Resources' annual technical meeting at Saskatoon on
May 31, 2000, an agreement in principal was reached by the joint venture
partners to undertake a drilling program this year of up to $2-million.
This major commitment would represent one of the most ambitious drilling
programs at Fort a la Corne to date. A program of such magnitude serves to
emphasize all the joint venture partners' enthusiasm for the Fort a la
Corne property.
To this end, all joint venture partners have agreed to meet within two
weeks to discuss finalization of plans for this year's drilling program.
Such a follow-up meeting is unprecedented in the joint venture's history
and emphasizes the intent to move the project forward as quickly,
decisively and as prudently possible.
This announcement is only a brief update on this single item and is
intended to assure all shareholders that details of the drilling program
and any other significant news will be announced as quickly as possible.
The Fort a la Corne diamond project is a joint venture composed of Monopros
Ltd., a wholly owned subsidiary of DeBeers (38.5 per cent), Cameco
Corporation (12.9 per cent), UEM Inc. (10 per cent) and Kensington
Resources Ltd. (38.5 per cent). The Fort a la Corne kimberlite cluster is
one of the largest clusters in the world containing 71 kimberlite bodies.
To date, 69 of the 71 kimberlite pipes on the site have been tested.
Forty-nine kimberlite pipes have been found to be diamond-bearing, with 34
kimberlite pipes containing macrodiamonds larger than one millimetre.
Details of upcoming exploration programs will be announced shortly.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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