Wake up WEM'rs...KRT is Alive and Well!!!
Monday July 31, 5:41 pm Eastern Time
Company Press Release
Kensington Announces Details Of Upcoming Drill
Program
VANCOUVER, B.C.--(BUSINESS WIRE)--July 31, 2000--Kensington Resources Ltd. (``The Company'') (CDNX:KRT. -
news) is pleased to announce that its Joint Venture 2000 Drill Program will begin at the Fort a la Corne Property on August 15,
2000.
The kimberlite targets to be drilled will consist of at least two holes into body #122 and two holes into body #141. As
approved on June 13, 2000 at the special Joint Venture technical meeting, this program will use a large diameter (24``) drill bit
and will be targeting those kimberlites thought to have the greatest potential for diamonds in the larger sieve classes. It is all
parties' desire, including Monopros, (as quoted in their June Monthly Progress Report) ''...to recover sufficient diamonds in
these larger sieve classes to allow reasonable confidence revenue modeling.``
The drilling contract has been awarded to Layne Christensen of Calgary, Alberta. It is predicted that kimberlite recovery will be
approximately 400 tonnes. Presently, it is anticipated that bulk samples will be concentrated at the De Beers facility in Grande
Prairie, Alberta and final recovery from concentrate will be performed at the De Beers GSPS facility in South Africa.
Kensington has had included in the budget an independent audit of these results and facilities, which will be conducted at
Kensington's discretion. Microdiamond samples are to be collected from bulk sample oversized material and treated at the De
Beers Kimberley Acid Laboratory in South Africa. An additional component (no more than 33%) will be sent to a Canadian
laboratory by Kensington for corroborative analysis.
The Joint Venture is pleased to continue using the De Beers treatment facilities based in South Africa, to recover Fort a la
Corne microdiamonds and macrodiamonds from samples produced in the 2000 program. In 1999, De Beers recovered
macrodiamonds from tailings produced by non-De Beers Laboratories, which were previously thought to have been adequately
tested. Through the careful audit of X-ray tailings, De Beers have also identified a population of diamonds at Fort a la Corne,
which have unusually low luminescent properties. These exercises have confirmed the efficiency and quality of the De Beers
treatment and recovery facilities.
The final cost of this program is now expected to be $2,260,000 - up from the $2 million previously announced. Kensington's
expectations have been significantly buoyed by prior encouraging results as well as new conditions and market strategies.
The Fort a la Corne Diamond Project is a joint venture among Monopros Limited, a wholly owned subsidiary of DeBeers
(DBRSY-Q) (38%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (14%), UEM Inc. (10%) and Kensington
Resources Ltd., (KRT-CDNX;KNSRF-L) (38%). The Fort a la Corne kimberlite cluster is one of the largest clusters in the
world containing 71 kimberlite bodies.
ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.
(signed) ``David H. Stone''
David H. Stone President
The Canadian Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
William Callahan
Manager of Investor Relations
250/361-1KRT (1578) |
