***OFF THE WIRE***
SouthernEra Resources Limited - Yamba Lake drill program produces further encouraging results
Shares Issued and Outstanding: 51,723,800
TSX: SUF
AIM: SRE
TORONTO, Oct. 29 /CNW/ - SouthernEra Resources Limited is pleased to
report on microdiamond results returned from the Sue and Sputnik kimberlite
pipes at the Yamba Lake Project in the Northwest Territories.
Following the encouraging microdiamond results returned from drill hole
Y02-06 that tested the Sue pipe during April, 2002 (News Release July 8,
2002), a further three drill holes tested the Sue pipe during August.
The Sue microdiamond results from the follow-up three drill holes Y02-09,
Y02-10 and Y02-11, and drill hole Y02-06 are tabulated in Table 1. The Sue
diamond recoveries based on the individual square mesh screen categories are
listed in Table 2. All samples were independently tested by Saskatchewan
Research Council's (SRC) Geoanalytical Laboratory in Saskatoon, Saskatchewan.
The drill core samples were processed by SRC's standard caustic fusion diamond
recovery system.
<<
Table 1. Sue Pipe Diamond Results
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Diamonds Recovered
Total Sample ---------------------------------------------
Drill Hole Weight +0.5 mm +1.0 mm
(Kilograms) Total -------------------------------------
1 Axis 2 Axes 1 Axis 2 Axes
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Y02-06 226.7 95 18 12 3 1
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Y02-09 190.95 45 5 5 3 1
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Y02-10 147.9 37 4 1 0 0
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Y02-11 151.33 37 6 4 3 3
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The four largest stones recovered from drill hole Y02-06 are:
1.44x1.10x1.04 millimeters, 1.56x0.72x0.66 millimeters,
1.16x0.64x0.50 millimeters and 0.90x0.76x0.60 millimeters.
The three largest stones recovered from drill hole Y02-09 are:
1.56x1.00x0.80 millimeters, 1.10x0.78x0.60 millimeters
and 1.16x0.58x0.56 millimeters.
The three largest stones recovered from drill hole Y02-11 are:
2.60x1.94x1.68 millimeters (0.048 carat), 1.70x1.26x0.64 millimeter
and 1.48x1.02x0.96 millimeters.
Table 2. Sue Pipe Diamond Results
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Number of Diamonds Recovered
Square Mesh -----------------------------------------------------------
Sieve Size Y02-06 Y02-09 Y02-10 Y02-11
(226.7 kg) (190.95 kg) (147.9 kg) (151.33 kg)
-------------------------------------------------------------------------
+1.180 mm 0 0 0 1 (0.048 carat)
-------------------------------------------------------------------------
+0.850 mm 1 1 0 1
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+0.600 mm 2 0 0 1
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+0.425 mm 7 4 1 0
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+0.300 mm 7 1 0 1
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+0.212 mm 8 7 11 9
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+0.150 mm 23 8 9 9
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+0.106 mm 47 24 16 15
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In addition, one drill hole, Y02-02, tested the Sputnik pipe during
August. The Sputnik microdiamond results recovered from a total sample weight
of 194.92 kg are tabulated in Table 3.
Table 3. Sputnik Pipe Diamond Results
--------------------------------------------
Number of Diamonds Recovered
Square Mesh -------------------------------
Sieve Size Y02-08 (194.92 kg)
--------------------------------------------
+0.425 mm 1
--------------------------------------------
+0.300 mm 0
--------------------------------------------
+0.212 mm 6
--------------------------------------------
+0.150 mm 7
--------------------------------------------
+0.106 mm 22
--------------------------------------------
>>
SouthernEra Chairman, Dr. Chris Jennings, said: "The Sue pipe
macrodiamond recoveries are very encouraging and the majority of the diamonds
are of a good white color and excellent quality". SouthernEra is currently
analyzing all of the results in order to develop a program for the continued
evaluation of the known kimberlite pipes at Yamba, which may include the
collection of larger samples. The program will also include further testing of
stored drill core recovered from the Eddie and T-10 pipes and processing of
the remaining Sue 2002 drill hole kimberlite core (approximately 1 tonne)
through a dense media separation plant to recover diamonds larger than 0.8mm.
Further ground geophysical surveys will be completed within the Torrie,
Sputnik, Sue and Eddie pipe cluster to test airborne anomalies consistent with
kimberlite pipes.
SouthernEra can earn a 60% interest at Yamba Lake by completing a
bankable feasibility study by the end of 2006. Under certain project financing
arrangements, the Company can increase its interest to 65%. SouthernEra's
partners at Yamba Lake are Tanqueray Resources Ltd., Mill City International
Inc. and Techsite Strategies Corp.
SouthernEra Resources is a fully integrated international mining company,
which generates projects offering exceptional rates of return. The Company's
focus is on platinum group metals and diamonds. Its operations in South Africa
include the 70.4 percent owned Messina Platinum Mine and the 50 percent owned
Klipspringer Diamond Mine. The common shares of SouthernEra are traded on the
Toronto Stock Exchange (SUF) and the London Stock Exchange's AIM (SRE).
Looking very interesting.
Regards
Vaughn |
