Band-Ore Resources Ltd. - 848 Diamonds Recovered From New Discovery
Burlington, Ontario --
Wayne J. O'Connor, President of Band-Ore Resources Ltd., reports
caustic fusion results for three diamondiferous 16 kg samples
from the Company's GQ diamond property located north of Wawa,
Ontario. The samples were processed at the laboratories of
Saskatchewan Research Council (SRC) for microdiamond recovery.
The three samples were collected in the area of the new diamond
discovery announced on January 29, 2001 where an angular boulder
of diatreme breccia contained 128 microdiamonds in a 16 kg
sample. These samples were collected by the Company's Qualified
Persons (QP's), Bruce Durham and Bob Duess.
The new samples returned a total of 25 macrodiamonds and 823
microdiamonds (a macrodiamond has at least one dimension
exceeding 0.5 mm, a microdiamond has all dimensions less than
0.5mm). The largest macrodiamond was a fragment that measured
1.04mm X 0.86mm X 0.62mm. This diamond fragment was described as
clear and yellow.
Two of the samples came from large angular boulders consisting of
diatreme breccia material located three kilometers to the
northeast of the original GQ discovery. The third sample from
this area was comprised of mainly weathered outcrop of diatreme
breccia. The Company's QP's believe this outcrop to be part of
the source unit of the boulders. One boulder sample contained 13
macrodiamonds and 474 microdiamonds. These diamonds weighed a
total of 3.76 mg (200mg = 1 carat). The other boulder sample
contained 11 macrodiamonds and 309 microdiamonds. These diamonds
weighed a total of 3.48mg. The boulders contain 20% to 40%
xenolith material (fragments), which vary in size up to 40cm, set
in a fine-grained dark green matrix. The outcrop sample contained
1 macrodiamond and 40 microdiamonds. These diamonds weighed a
total of 1.64mg.
To date, only four samples (a total weight of 64 kg) have been
processed from this new discovery area. SRC has reported a total
976 of diamonds (total weight of 9.63 mg) from these four
samples. The outcrop sample and the near source boulders are
located in a readily accessible area and are located within 150
meters of each other. The high diamond counts from the new
discovery are the best results received from the GQ Property to
date. These results significantly enhance the prospective nature
of the project. Analysis of much larger samples is required to
determine the size distribution of the diamonds, the value of the
diamonds, and the potential economics of the project. The
economic potential of the project is enhanced by the excellent
location, access, and mining infrastructure available in the Wawa
area of northern Ontario.
The Company has now received results from 52 samples collected in
the fall sampling program. Of the 52 samples, 30 samples (or 58%)
have contained diamonds. Of the latest group of 7 samples, 4
samples from other locations were not diamondiferous. Additional
caustic fusion results are pending (see press release dated
Nov.22, 2000). The Company intends to initiate field work in the
early spring to further evaluate at least 5 diamond bearing zones
located to date, to identify new potentially diamondiferous
areas, and to evaluate numerous circular magnetic anomalies
throughout the property.
The company also reports that 4 samples submitted for caustic
fusion for microdiamond recovery on the 50/50 joint venture Keglo
Bay property in northern Quebec did not contain any diamonds.
Band-Ore is a Canadian exploration company incorporated in 1946.
Band-Ore's shares are listed on the Toronto Stock Exchange and
trade under the stock symbol "BAN".
For further information contact Wayne J. O'Connor, President, at
905 319 7469.
THIS PRESS RELEASE WAS PREPARED BY BAND-ORE RESOURCES LTD., WHICH
ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. NO REGULATORY
AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE
INFORMATION CONTAINED HEREIN.
S.E.C. EXEMPTION: #82-4233
SHARES: 26.2 MILLION |
