SouthernEra Mobilizes Drill Rig for MacKay Lake Project
TORONTO, Aug. 31 /CNW/ - SouthernEra Resources has secured a drill rig to
complete one hole before winter on its 70% owned MacKay Lake diamond prospect
in the Northwest Territories. Drilling is expected to commence in September
2000.
As previously announced, the MacKay Lake project could host the northeast
extension of Winspear Resources Ltd.'s Snap Lake diamond deposit. If the
shallow dipping Winspear kimberlite sill extends onto MacKay Lake, it would be
at an estimated depth of 900 to 1,200 meters. Because of its high grade and
high value, an extension of the Snap Lake deposit onto SouthernEra ground
could be economic at these depths.
This drilling initiative is not included in the current SouthernEra
exploration program. Therefore, the Board of Directors of SouthernEra is
considering a small equity private placement to fund the MacKay Lake program.
SouthernEra Resources Limited is a diamond mining and exploration company
and an emerging platinum group metals producer. The common shares of
SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange.
%SEDAR: 00004535E
-0- 08/31/2000
For further information: SouthernEra Resources Ltd., Rudi Fronk, Director, Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com |
