The free news released on paid ad basis by releaser came out of CSW last night under the heading De Beers and Monopros and said several samples are being shiped to DeBeers Lab in So.Africa for quality of Diamonds taken from ITL/ICL JV but I assumed this is next to ours. Check it out and interprete how it affects RYR. Please?
Mountain Province Mining Inc -
New kimberlite body discovered on AK-CJ claims, NWT
Mountain Province Mining Inc MPV
Shares issued 21,189,620 Aug 22 close $5.65
Mon 25 Aug 97
Mr Jan Vandersande reports
The company has been notified by its contractor, Monopros Ltd, a wholly
owned subsidiary of De Beers Consolidated Mines, of further drilling
results on the AK-CJ claims in the NWT.
Monopros has advised the company that a new kimberlite body has been
intersected while drilling a lake-based geophysical target established by
the high resolution helicopter-borne magnetic and electromagnetic survey
which was flown earlier this year. The discovery hole was inclined at -45
degrees and initially intersected kimberlite at 122m. It remained in a
complex mixed zone of alternating kimberlite and granite to a down-the-hole
depth of 245m before passing into clean kimberlite with minor granite
xenoliths for a further 73m. The hole was terminated in granite at a depth
of 344m. A total of 96m of clean kimberlite was intersected. the new
kimberlite discovery is approximately 830m northeast of the AK 5034 pipe
and approximately 760m southeast of the Tesla pipe.
Following detailed core logging, samples of the new kimberlite will be
forwarded by Monopros to the De Beers laboratories in South Africa for
microdiamond, mineral chemistry and other analyses.
Monopros has also reported that two additional holes, both inclined at -45
degrees, have been drilled into the Tesla kimberlite. One of these holes
intersected kimberlite between 114.2 and 267.5m and was stopped in granite
at 281.3m. The second hole entered kimberlite at 139.3m and was terminated
due to difficult drilling conditions while still in kimberlite at 222.5m.
Samples from these drill cores are also being submitted to De Beers' South
African laboratories for microdiamond, mineral chemistry and other
analyses.
A considerable number of additional geophysical targets remain to be tested
and, in order to accelerate drilling progress, Monopros arranged for a
second core rig to be moved to the AK property. This rig is now on site. In
addition, a helicopter-portable reverse circulation drill rig to test a
number of land targets will be on site by the end of August, bringing the
number of drill rigs on the property to a total of three. Drilling will
continue as long as the weather permits.
Additional work on the properties involving glacial sediment sampling,
surficial mapping and continuing interpretation of geophysical data is
progressing well. To date, 2600 glacial sediment samples have been
collected during the summer field season on both claim blocks.
The AK-CJ claims are presently held 50% by Mountain Province Mining, 40% by
444965 BC, a wholly owned subsidiary of Glenmore Highlands and 10% by
Camphor Ventures.
As reported in Stockwatch March 10 1997, the company and its partners have
entered into a joint venture agreement with Monopros under which Monopros
has the right to earn up to a 60% interest in the AK-CJ properties.
For investor relations contact:
Canada Office:
789 West Pender Street
Suite 1205
Vancouver, BC
V6C 1H2
Telephone: (604) 687-0122
Fax: (604) 684-7208
Toll free: 1-800-555-9343
USA Office:
3633 East Inland Empire Blvd
Suite 265
Ontario, CA
91764
Telephone (909) 466-1411
Fax: (909) 466-1409
Toll free: 1-800-220-1943
Web site: http:www.mountainprovince.com
e-mail: ir@mountainprovince.com
From NEWSCOUT Free E-Mail News /ads from canada-stockwatch.com
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