Kensington Resources Ltd. (V.KRT) * Diamond in the rough! Message Board

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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!

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To: I_C_Deadpeople who wrote (493)	10/14/1997 11:54:00 AM
From: Bob Walsh	of 5206

News Release Fort a la Corne drill results Tue 14 Oct 97 News Release Mr David Stone reports The company has released following update on the commercial-sized diamond grades derived from the microdiamond results and commencement of processing the minibulk samples for the 1997 drilling program. The drilling program was completed at the Fort a la Corne project, Saskatchewan this summer. World renowned diamond geologist, Dr Luc Rombouts of Terraconsult at Antwerp, Belgium recently estimated the grade of commercial-sized macrodiamonds (>1.0 mm in one dimension) based on extrapolation of the microdiamond size distribution for previously tested kimberlite bodies 150, 176, and 220 which were drilled during 1997. Macrodiamond grades were not determined for previously untested bodies 605 and 612 since an insufficient number of stones were recovered by caustic dissolution of microdiamond samples obtained from drillholes 605-01 and 612-01. The microdiamond size distribution was determined for all stones recovered from the caustic dissolution and indicator mineral chemistry samples to date. These macrodiamond grade estimates of the higher grade zones as well as the total mass of each body are summarized below. It should be noted that macrodiamond grade estimates extrapolated from microdiamond size distribution data are qualitative indicators of grade which can be significantly biased by the chance occurrence of one large diamond. In this regard, the grade estimates for kimberlite bodies 150 and 176 are biased by one large stone weighing 0.068 and 0.138 carats, respectively. Recovery of microdiamonds by caustic dissolution of additional samples from these bodies is required to obtain reliable grade estimates. The microdiamond size distribution for kimberlite body 220 is robust. Following is a summary of grade estimates for commercial-sized diamonds based on extrapolation of microdiamond size distribution for kimberlite bodies drilled during 1997 at Fort a la Corne project: Extrapolated Macrodiamond Grade (cpht) ---------------------- Kimberlite Body Total Higher Grade Number Size (ha) Body Zones ------ --------- ----- -------------- 150 67 11 15 176 26 36 50 220 24 25 n/a* * No comparatively higher grade zone identified within kimberlite body 220. Kimberlite bodies 150 and 176 are clearly stratified with respect to both the lithology and distribution of the estimated macrodiamond grades. The average macrodiamond content of the higher grade zones is about 40% greater than the content estimated for the total mass of these bodies. The economic significance of the macrodiamond grade zonation will be evaluated during continuing exploration programs. Also, a number of kimberlite bodies including body 220 require additional drilling to determine whether or not they might contain potentially economic higher grade zones. Corresponding minibulk samples from the five holes drilled during 1997 arrived recently at the DeBeers macrodiamond recovery facilities in South Africa. Processing of these samples totalling 83.867 wet tonnes has begun. Results for the macrodiamond analyses including an independent valuation of the stones by Dr Rombouts are expected to be received by late fall 1997. The company plans to participate in a follow up drilling program during 1998. Preliminary discussion of the 1998 program is currently in progress. This program, comprised of large diameter holes, will be designed to further evaluate kimberlite bodies which are considered to contain more than 100 million tonnes each and have the greatest economic potential on the basis of current data. Details of the 1998 budget and associated exploration program will be announced after they have been determined by the joint venture partners. The Fort a la Corne diamond project is a joint venture between Kensington Resources Ltd, Uranerz Exploration and Mining Ltd (operator), Cameco Corp and Monopros Ltd, a wholly owned subsidiary of DeBeers. Each of Cameco, Monopros and the company have a 30% interest. Uranerz has a 10% carried interest. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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