March 4, 2002
TORONTO, Ontario. SouthernEra Resources Limited’s President and CEO, Patrick Evans, is pleased to report on the progress of an aggressive field diamond exploration program underway in northern Ontario, Canada. Part of SouthernEra’s Superior Craton exploration initiative, this program’s objectives are the discovery and testing of diamond-bearing kimberlites within both Ontario and Quebec.
Following the completion of a 6,000 line-kilometer airborne geophysical survey by SouthernEra and the release of a 105,000 line-kilometer Ontario government funded airborne geophysical survey in northern Ontario during 2001, SouthernEra secured the 100 percent-owned MAJESTIC and CROWN diamond projects that cover a 120,000 square kilometer diamond search area.
The selection of the two project areas is based upon the positive identification of high interest kimberlite pipe-like geophysical targets defined from both airborne surveys and their coincident field relationship to positive kimberlitic indicator mineral results returned from stream and till sampling surveys conducted by both SouthernEra and the Ontario government. SouthernEra has now staked over 25,000 hectares of land that covers more than 200 individual kimberlite pipe-like airborne geophysical targets.
First phase till and stream sampling and systematic prospecting follow-up exploration programs on selected airborne geophysical targets were completed at both the Majestic and Crown projects during 2001. The sampling programs have recovered high interest kimberlitic garnets, diamond inclusion chromites, ilmenite and chrome diopside. The kimberlitic indicator mineral chemistry suggests the presence of diamondiferous source rocks within both projects. In addition, prospecting has resulted in the discovery of two kimberlite dykes and float material that hosts kimberlitic indicators.
Ground magnetic, electromagnetic and gravity geophysical surveys to test the first 49 of the over 200 staked airborne kimberlite geophysical targets are underway and are expected to be completed by mid-April. The remaining airborne targets will be tested over the course of the year and further stream and till sampling programs will commence late May following winter ice break-up. The immediate aim is to fast-track the airborne targets to the drill testing stage based on the combination of positive ground geophysical survey and high interest kimberlitic indicator sampling results.
SouthernEra’s President and CEO, Patrick Evans, said: “I am very pleased with the quality of the exploration results generated within only eight months since the project’s inception. There exists the real potential for a significant economic diamond discovery in an area we believe to be amongst the most promising in Canada. SouthernEra is strategically positioned with the Majestic and Crown projects.”
SouthernEra Resources Limited is an independent producer of platinum group metals and diamonds. The company also has an extensive PGM and diamond exploration program. The common shares of SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange.
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SouthernEra Resources Limited |
