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Gold/Mining/Energy : Major General--MGJ
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To: Ed Pakstas who wrote (265)1/14/1998 7:16:00 PM
From: wayne cath  Read Replies (1) of 1707
 
NEWS RELEASE!!!

Major General Resources Ltd -

Diamond indicator minerals recovered at Greenland project

Major General Resources Ltd MGJ
Shares issued 31221119 1998-01-14 close $0.3
Wednesday Jan 14 1998
Mr Glenn Shevchenko reports
The results of the 1995 and 1996 sampling programs on the
company's properties in southwestern Greenland indicate the
presence of both diamondiferous and non-diamondiferous
kimberlites.
Electron microprobe results show that kimberlite indicator
minerals have been recovered from the company's 1996 sampling
program. Of the 300 samples collected, 55 contain kimberlitic
indicators of which nine contain a variety of minerals
interpreted to be sourced by diamondiferous kimberlites.
These nine samples are derived from four sub-areas within the
company's properties.
The diamond indicator minerals noted above mainly consist of
clinopyroxenes with minor chromites. These 1996 sampling
results both support and expand upon the positive 1995
results which recovered a number of garnets and
clinopyroxenes characteristic of diamondiferous kimberlites
as well as ilmenite and chromite grains that indicate diamond
stability during the ascent stage of the kimberlite.
These highly positive results are supported by numerous
olivines and pyroxenes which have signature chemistry
indicative of a kimberlitic source. Although these mineral
grains are not diagnostic for diamonds, their abundance is
very important for the presence of kimberlites on the
properties.
Major General has applied to retain approximately 400 square
kilometres in six separate areas of southwestern Greenland.
These areas are designed to adequately cover the sources of
the stream gravels from which the anomalous samples were
collected. In several instances, the headwaters of these
streams are round lakes which may be underlain by the
kimberlite bodies.
Western Greenland is actively being explored for diamonds by
senior companies such as Monopros Limited, DiaMet Minerals
and Aber Resources as well as junior companies that include
Fjordland Minerals, Platinova A/S and Lexam Explorations. The
presence of diamondiferous kimberlites in western Greenland
was announced by one consortium in late 1997 and another
group is currently mobilizing a drill to test a number of
high priority targets.
Preliminary positive discussions have been held with several
potential partners concerning financing of the 1998 program.
The company owns 100% equity in the Greenland properties
subject to 2% nsr (with a 1% buyback for $1 million) and
outstanding share payments totaling 200,000 shares to
Quadrant Resources Ltd.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com

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