Twin outlines pair of dike segments at Torngat North
Twin Mining Corp TWG
Shares issued 73,404,344 Jan 14 close $0.39
Thu 16 Jan 2003 News Release
Mr. Hermann Derbuch reports
TWIN MINING'S TORNGAT DIAMOND PROJECT DELIVERS ENCOURAGING DI ...
Twin Mining has released the results of 15 grab samples from outcropping
kimberlite, ranging in weight from 24 kilograms to approximately 100
kilograms, from Torngat North. These results highlight the diamond
potential of the Torngat diamondiferous kimberlite dike system that
outcrops over a strike length of 37 kilometres and measures up to 2.3
metres in width.
Analysis of the diamond results identified two dike segments of 900 metres
and 400 metres respectively, with higher stone densities than other sampled
parts of the dike.
These results, and work to date, relate to exposed dike intervals that
strike roughly at right angles to stratigraphy. Cross faults, that are
believed to occupy overburden covered valley floors, also intersect dikes
at roughly right angles and potential exists for dike width enhancement
where dikes and cross structures intersect.
Additional surveying and ultimately diamond drilling would be required to
evaluate overburden covered sections of dike material.
Diamond extraction by caustic fusion (at a cutoff size of 100 microns)
selection and description was performed by SGS Lakefield Research Limited
which is accredited by the Standards Council of Canada and CAEAL for
specific registered tests. A review of the diamond size distribution was
performed by AMEC E & C Services Limited.
Dike segment diamond summary
According to square mesh sieve
analysis provided by Lakefield
Sampled 900 m dike segment
segment (578.52 kg)
Sieve Size Number of Weight of
(mm square mesh) diamonds diamonds
(carats)
0.85 to 1.18 3 0.042511
0.600 to 0.850 10 0.046633
0.425 to 0.600 27 0.038755
0.300 to 0.425 38 0.020585
0.212 to 0.300 69 0.015260
0.150 to 0.212 99 0.007448
0.100 to 0.150 103 0.002725
Total 349 0.173917
Sampled 400 m dike segment
segment (432 kg)
Sieve Size Number of Weight of
(mm square mesh) diamonds diamonds
(carats)
0.85 to 1.18 3 0.03471
0.600 to 0.850 12 0.05098
0.425 to 0.600 14 0.019630
0.300 to 0.425 19 0.010965
0.212 to 0.300 38 0.007840
0.150 to 0.212 50 0.003230
0.100 to 0.150 61 0.001585
Total 197 0.128940
Torngat North dike segment
(900 metres)
Samples listed in this table
make up the 900-metre Torngat
North dike segment
Sample Sample Diamonds Total
No. weight recovered diamond
(kg) weight
in sample
(carats)
GL10 101.80 99 0.026835
887573 24.00 32 0.006175
DB09 100.00 60 0.017590
GL09 72.52 47 0.030285
887574 24.00 14 0.002190
DB03 100.00 43 0.015010
GL08 81.25 20 0.032385
887575 24.00 2 0.000060
DU
character 50.95 32 0.043387
Total 578.52 349 0.173917
Table II notes:
1. 13 diamonds measure greater than 0.5 millimetre in three dimensions; and
2. 41 diamonds measure greater than 0.5 millimetre in two dimensions.
Of the 349 diamonds recovered, the largest stone measures 2.90 millimetres
by 2.50 millimetres by 1.80 millimetres (0.065 carat). Lakefield describes
the diamonds extracted as, "very white, mostly transparent and of high
preservation."
Torngat North dike segment
(400 metres)
Samples listed in this table
make up the 400-metre Torngat
North dike segment
Sample Sample Diamonds Total
No. weight recovered diamond
(kg) weight
in sample
(carats)
DB04 100.00 36 0.021595
DB01 100.00 63 0.029975
887587 24.00 15 0.021265
DB06 100.00 53 0.011465
GL07 84.00 29 0.042070
887588 24.00 1 0.002570
Total 432.00 197 0.128940
Table III notes:
1. 12 diamonds measure greater than 0.5 millimetre in three dimensions; and
2. 28 diamonds measure greater than 0.5 millimetre in two dimensions.
Of the 197 diamonds recovered, the largest stone measures 1.85 millimetres
by 1.25 millimetres by 1.07 millimetres (0.0142 carat). Lakefield describes
the diamonds extracted as, "very white, mostly transparent and of high
preservation."
Previously, three mini-bulk samples, weighing 90.7 tonnes, 57.7 tonnes and
193.2 tonnes, were excavated in the summer of 2000 at sample location AD2,
which is four kilometres to the southwest of the 900-metre dike segment
Torngat North. For comparative purposes the four largest diamonds extracted
from the mini-bulk samples are listed below (see press release April 5,
2001):
4.60 x 4.20 x 3.54 (0.685 ct);
4.97 x 3.87 x 3.40 (0.566 ct);
4.61 x 4.14 x 0.50 (0.193 ct); and
3.50 x 3.32 x 2.10 (0.271 ct).
Diamond Trading N.V. of Antwerp, Belgium, which is a minority shareholder
of Twin Mining, examined a small parcel of these diamonds (see press
release April 5, 2001). In its opinion, the diamonds are of high quality,
good crystalline shape, very white and of high purity.
The results of the analysis of diamonds appear to be consistent with the
results of the mini-bulk sample taken in the fall 2000 and indicate there
is no need for a further large sample from this location. AMEC recommended
that Twin Mining conduct a desk-top study of existing indicator mineral
chemistry data to identify any area of the dike system that has favourable
indicator mineral chemistry and that any prospective areas identified
through this analysis be sampled to determine microdiamond counts. It was
further recommended that any future sampling program incorporate a
core-drilling component to investigate potential grade variations at depth.
Twin Mining's diamond exploration focus is on its large tonnage potential
Jackson Inlet project. Accordingly, management is currently pursuing
options, including joint venture participation, to advance the Torngat
project.
John Lindsay, PEng, AMEC's principal metallurgist, is Twin Mining's
qualified person for diamond size distribution analysis, and Dallas Davis,
PEng is Twin Mining's qualified person for the field component, as defined
by National Instrument 43-101.
Twin Mining's kimberlite core samples, from the Jackson Inlet 2002 phase 1
exploration campaign, are currently being processed by Lakefield. Results
will be announced as soon as they are available.
After the conclusion of the oversubscribed flow-through financing of
$3.3-million the company is proceeding with the financing of approximately
$2-million in non-flow-through money early in 2003. |
