News release from Pamlico Resources
PAMLICO RESOURCES LTD.
Suite 406 - 535 Howe Street
Vancouver, British Columbia V6C 2Z4
Telephone: (604) 688 9513
Facsimile: (604) 688-9726
E mail: info@pamlicoresources.com
Web site: www.pamlicoresources.com
Trading Symbol: VSE - PGP
NEWS RELEASE
June 4, 1998 - Vancouver, B.C. - Pamlico Resources Ltd. is pleased to
announce additional results of its ongoing diamond exploration program on the Belozerskaya License. The Property is held by The Northen Mining Company ("TNMC") a closed joint stock company. The Company is in the process of acquiring up to 100% of the issued and outstanding shares of TNMC.
The initial drill hole of the TNMC drilling program (C10/1) intersected an explosive breccia pipe coincident with a strong positive circular magnetic anomaly in the western perimeter of the License. The vertical drill hole intersected the explosive breccia at a depth of 45.2m and continued in the breccia until termination at 150.4m. Sample processing has been carried out by Arkhangelskgeoldobycha (AG). Russian Research Institute of Mineral
Resources (RRIMR). Lakefield Research Limited and Rainbow Research
Associates (RRA).
Selected samples of the drill core (83mm diameter) were processed in
Russian by the Arkhangelskgeoldobycha laboratory. Five small samples were subjected to thermal decomposition tests for the recovery of diamonds and indicator minerals: the samples weighed 1220g, 1420g, 1620g, 1580g and 2750g for a total of only 8.6kg; each sample was collected from a 20m interval of the drill core starting at 45m depth. Three microdiamonds were recovered.
A group of twenty drill core samples totaling only 32kg representing the 105.7m - 124.7m interval of the C10/1 drill core selected by TNMC was shipped to Canada; the samples were processed for diamonds and indicator minerals under the direction of Rainbow Research Associates at the laboratory facilities of Lakefield Research Limited. The samples were processed individually by stage crushing to 5mm, controlled artrition milling, screening, milling of oversize, heavy liquid separation and magnetic separation prior to optical microscopy.
No macrodiamonds (>0.5mm) or microdiamonds (>0.15mm) were recovered by
Lakefield Research Limited from the very limited sampling of the C10/1
drill core. A suite of quality control diamonds were added to the samples by Rainbow Releaser Associates; the quality control diamonds were recovered from the final concentrates.
Geological logging of the C10/1 drill core by TNMC reported abundant
cognate and exotic xenoliths; RRIMR identified the core as a fine to medium fragmental picrite tuffbreccia associated with the crater facies of kimberlite pipe. The heavy mineral concentrates examined by AG, RRIMR and RRA contained numerous potential diamond and kimberlite indicator minerals comprising garnets, including rare pyrope chrome spinellides, including high chrome chromites and chrome picotite (magnesiochromite), chrome pyroxene, corundum, sulphides, silicon carbide and silicates including zircon and olivine. Kelephytic rims were observed on numerous garnets; chrome pyroxene was abundant.
A suite of 200 oxide grains, commonly with octahedral habit, selected by RRA has been submitted for quantitative electron microprobe analyses; the results are expected within two weeks. Microprobe analyses on concentrates prepared by RRIMR have indicated the presence of high chrome chromites (58.6 - 61.6wt% Cr2O3) with low AlO3 and TiO2. The compositions compare favorably with chromites from kimberlite pipes and should be considered highly prospective for diamonds.
Optical examination of the pyropes by AG and RRIMR suggests compositions typical to Iherzolitic and harzurgitic peridotite paragenesis. The abundance of barophilic minerals is anomalously high in comparison to the historic data available for the Nenoksa pipes. Y. Shchukin of the Shirsov Institute of the Russian Academy of Sciences reported that the C10/1 samples belong to the deepest varieties of picrites intersected in the Nenoksa field comparable to the Izhemsky. Suksomsky and Chidvinsky pipes of the Aarkhangelsk region and that the pyrope garnets are similar to typical peridotitic pyropes of the diamondiferous Lomonosova kimberlite pipes.
Pamlico Resources Ltd. believes that the Belozerskaya License has excellent exploration potential for primary and placer diamond deposits. The recovery of microdiamonds and indicator minerals in the initial sampling intervals of the C10/1 drill core, the first drill hole of the 1997-1998 program, and the recovery of alluvial diamonds in beach samples continue to support the exploration model for the Belozerskaya License.
The TNMC exploration program is continuing to interpret data collected from the high resolution airborne magnetic survey; a total of 77 positive magnetic anomalies have ben identified as key drilling targets; detailed ground geophysics. Diamond drilling, mapping and sample processing for primary and alluvial diamonds are forthcoming in the 1998 filed program.
PAMLICO RESOURCES LTD.
/s/Pellegrino Capone
Pellegrino Capone
Secretary and Director
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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