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***OFF THE WIRE***
Twin Mining's Jackson Inlet Core Drilling Program Establishes Depth Extension of Freightrain and Cargo1 Pipes
TORONTO, July 10 /CNW/ - Twin Mining Corporation ("Twin Mining")
(TWG - TSX) today announced that it has received micro-diamond results from
the Cargo1 and Freightrain kimberlites located at its Jackson Inlet property.
Diamond extraction and analysis from NQ drill core (47mm diameter) indicated
continuity and reproducibility of diamond grade comparing pit sample results
with drill core data of up to 206 meters (676 feet) vertical depth at
Freightrain and 150 meters (492 feet) vertical depth at Cargo1. These are the
deepest sampled kimberlite intersections in the respective pipes (see press
releases of October 15, 2001 and October 31, 2001 respectively).
Important conclusions of the analysis conducted by AMEC E&C Services
("AMEC") are:
- The Freightrain drill hole and mini-bulk sample results are consistent
with one another and support the previously modeled grade of
0.4 ct/tonne obtained from the fall 2001 mini-bulk samples.
- Micro-diamond data obtained to date from both the Freightrain and
Cargo1 pipes indicate that both are low in micro-diamond content which
limits the ability to use micro-diamond data from small samples to
reliably predict macro-diamond grades.
- The results therefore should be considered as indicative, rather than
conclusive. A numerical comparison of diamond counts per unit mass
between Jackson Inlet and other Canadian diamond plays is not
meaningful
- Such data should primarily be used to prioritize targets for larger
scale follow-up sampling.
AMEC recommended:
- The extraction and processing of a 20 tonne sample from the Cargo1 pipe
for a preliminary estimate of the macro-diamond grade.
- More detailed follow-up sampling program be carried out on the
Freightrain pipe to more fully understand the geology of the kimberlite
body and to investigate the potential for higher grade areas using
micro-diamond analysis. This investigation should include an assessment
of the extent of the floating limestone reefs within the kimberlite.
Twin Mining's field team has now arrived at Jackson Inlet to continue its
exploration effort on the additional 12 anomalies previously identified
through airborne magnetic surveys. The program calls for a ground magnetometer
survey, gravity survey, soil sampling and drilling of these anomalies with the
objective of defining large tonnages of highly diamondiferous kimberlite.
Results:
Diamond extraction and analysis from each kimberlite was performed by
Lakefield Research Limited ("Lakefield") with the following results:
<<
Cargo1 :
--------
The core holes CG1-01 and CG1-02 recovered 924.72kg of kimberlite core
(see press releases of August 12, October 15 and December 13, 2001).
The two holes are believed to have penetrated the southwest and northeast
edge of the kimberlite body. Both holes crossed two distinct facies within the
kimberlite pipe: a coarse olivine macrocrystic autolithic rim, and a dark
weakly ashy core zone that appears to be distinctly crater facies.
It is encouraging to note that there are higher-grade sections, similar
to the one reported in the press release of December 13, 2001, along the
length of the holes.
Cargo1 - Diamond Summary
------------------------------------------------------------------------
Hole Number Sample weight Number of Diamonds
(kg) -----------------------------------
Micro Macro(*)
(-0.5mm) (greater than 0.5mm)
------------------------------------------------------------------------
JI-CG1-01 336.31 65 9
JI-CG1-02 588.41 115 34
------------------------------------------------------------------------
Total 924.72 180 43
------------------------------------------------------------------------
(*) A macro-diamond is defined as exceeding 0.5mm in at least one
dimension
Notes: 1. Six macro-diamonds measure greater than 0.5mm in two dimensions
2. The two largest stones measure 2.05x1.48x1.12mm and
1.14x0.80x0.22mm
Freightrain:
------------
Micro diamond results from the 15 drill samples appear to be consistent
with the diamond grade obtained from the mini-bulk samples taken in late 2001.
As a preliminary assessment of the potential for higher-grade zones
within the Freightrain pipe, sample results from the 15 drill holes (see press
release October 31, 2001) were aggregated by location as shown in the table
below. Aggregated results indicate that the central and northern parts of the
pipe surface appear to be the highest-grade areas.
Freightrain - Diamond Summary
-------------------------------------------------------------------------
Sample Samples Sample weight Number of Diamonds
Grouping Aggregated Kg total ---------------------
Micro Macro(*)
(-0.5mm) (greater than
0.5mm)
-------------------------------------------------------------------------
Center FT-01, FT-04, FT-16 573.90 220 32
-------------------------------------------------------------------------
North Zone FT-09, FT-10, FT-11,
FT-12, FT-13, FT-14, FT-15 378.09 190 19
-------------------------------------------------------------------------
West Zone FT-06, FT-07, FT-08 11.73 13 0
-------------------------------------------------------------------------
South Zone FT-02, FT-17 140.85 62 2
-------------------------------------------------------------------------
Total 1,104.57 485 53
-------------------------------------------------------------------------
(*) A macro-diamond is defined as exceeding 0.5mm in at least one
dimension
Notes: 1. 15 macro-diamonds measure greater than 0.5mm in two dimensions
2. 8 macro-diamonds measure greater than 1.0mm in two dimensions
3. The four largest stones measure: 2.08x1.43x0.94,
2.05x1.43x0.21, 2.02x1.31x0.96 and 1.71x1.57x1.27mm
>>
Mini-bulk samples from the Freightrain pipe have yielded to date resorbed
diamonds of high quality without boarts, rejection, coated and cubes (see
press release of April 3, 2002). Diamond Trading N.V. of Antwerp, Belgium
stated that "the diamonds" of up to 1.557 carats "are similar to high quality
South African diamonds ...".
The mini-bulk results, together with the latest results and conclusions,
are very encouraging with regard to the economic potential of the Jackson
Inlet property.
Mr. John Lindsay, P.Eng., AMEC's Principal Metallurgist, is Twin Mining's
"Qualified Person" as defined by National Instrument 43-101.
Twin Mining, in addition to exploring the Jackson Inlet diamond project
on Baffin Island and the TORNGAT diamond project on the east side of Ungava
Bay in northern Québec, also holds a gold mining project in Idaho, United
States of America.
More positive news.
Regards
Vaughn |
