MINK INTERNATIONAL RESOURCES CORP.
Trading Symbol - MKM (V) 8 June 1998
KENIEBA DIAMOND PROJECT UPDATE
The Company is pleased to provide the following update regarding its current exploration
programme in the Kenieba Diamond Project, Republic of Mali in which it has a joint venture
with Ashton Mining.
Kassama Kimberlite Pipe
Ashton's Laboratory in Perth, Australia has completed testing the core samples from the first
diamond drill hole (98 KS DDH-01). Abundant picro ilmenites and modest amounts of
chromite and pyrope garnet indicator minerals were recovered from the 330 kg sample tested
Following a review of the 98 KS DDH-01 drill core, as well as new magnetometer and other
field data on the Kassama, Ashton geologists have determined that the pipe is made-up of
several phases. They also observed that it is much larger than the 44 hectare surface area
that was earlier indicated, estimating it to be around 55 to 60 hectares instead. Due to the
Kassama's extraordinary size and complexity, the Mink-Ashton JV Management Committee
agreed to drill two (2) additional holes to test different phases of the pipe.
The Company has now completed drilling the second hole (98 KS DDH-02), located about
450 metres NW from 98 KS DDH 01. Kimberlitic material was first encountered at 222
metres below the surface and over forty-five (45) metres of kimberlite lapilli breccia were
recovered. After the requisite logging of the core, the samples will be shipped to Ashton's
laboratory for testing.
The kimberlite from the second drill hole appears to be different from and is deeper blue in
colour than those recovered from the first hole. These observations, coupled with the varying
magnetic intensities exhibited in the magnetometer survey results, indicate that the
kimberlites along the northern, central and southern sections are of different types and/or
phases. Thus, the Kassama could be multi-phased kimberlite intrusions -- a feature shared by
many (similarly large) productive kimberlite pipes that are found elsewhere in the world.
The drilling of the third hole (98 KS DDH-03) located between the first and second holes (i.e.
about 180 metres northwest of 98 KS DDH 01) is now ongoing. Ashton has agreed that
upon completion of this third drill hole and delivery of the corresponding core to its Perth
laboratory, the Kassama Pipe will enter the ''Ashton Evaluation Stage''. In that event and
pending further results from the 2nd and 3rd diamond drill holes, all subsequent activities on
the Kassama Pipe -- from bulk sampling through to the completion of Feasibility Studies,
including all related costs, will be Ashton's total responsibility.
Cirque Kimberlite Pipe
The Company has completed drilling the Cirque Pipe from which were earlier recovered five
diamonds (viz: 6.01, 0.80, 0.44, 0.30 and 0.08 carats). The 22.2 hectare Cirque Pipe
actually consists of two diamondiferous bodies (the 14 hectare North Cirque and the 8.2
hectare South Cirque) abutting each other and forming a ''Figure 8''. Mink International's
recent drill hole intersected the top of the pipe at 16 metres below the surface and bottomed,
in kimberlite, at 148 metres.
In addition to the diamonds that were recovered from the Cirque Pipe itself, a number of
large alluvial diamonds were also found along the Moralia Stream that flows from and/or
through that particular kimberlite. The Moralia Stream's headwaters encompass the area
directly above the Cirque Pipe and its immediate surroundings. The Moralia alluvial diamonds
include the 70.62 carat gemstone that Mink International discovered in April 1997 and two
others weighing 38.5 and 10.57 carats respectively.
Ashton has agreed that upon its Perth laboratory receiving 500 kg core samples from the
recent drilling, the Cirque Pipe will then be in the ''Ashton Evaluation Stage''. As such,
Ashton will assume all activities and related costs from testing the 500 kg samples and,
depending on test results, subsequent bulk sampling through to the completion of Feasibility
Studies.
ON BEHALF OF THE COMPANY
"O.L. de la Cuesta"
O.L. de la Cuesta
President
No Exchange has reviewed this document and can accept any responsibility
for the adequacy nor accuracy of its contents.
802 - 595 Howe St., Vancouver, B.C. Canada V6C 2T5
Telephone (604) 687 3636 / (888) 233 5344; Fax (604) 687 3330
email: mink@mink.com; website: www.mink.com |
