See that also... can't see some of these not get eaten up at this price but we shall see.
Major General Resources Ltd MGJ
Shares issued 35,650,047 Oct 27 close $0.24
Wed 28 Oct 98 News Release
Also Ascot Resources Ltd (AOT)
Mr. Glenn Shevchenko reports
Major General Resources and Ascot Resources have announced that the Snowy Owl kimberlite returned 75 diamonds from an 80kg sample. The sample material was derived from one short reverse circulation drill hole that only penetrated 12m into the kimberlite which is located under a shallow lake. These preliminary diamond counts were reported verbally from the De Beers laboratory in South Africa and are encouraging as they compare well with diamond counts from producing kimberlites.
The final lab analyses, which are expected in the coming weeks, will have details on the size and weight of the diamonds. This will assist in assessing the size distribution of the recovered diamonds at the 0.5 mm threshold which is used as the macro-diamond convention on most Canadian
diamond properties. The 1998 drill program by Monopros tested eight targets and intersected five kimberlites, the results of which are summarized as follows:
Sample Size Diamond
Kimberlite (kg) Count
Snowy Oil 80 75
Golden Plover 160 39
Longspur 80 9*
Phalerope 160 6
Whimbrel 160 1
Some of these diamonds may be classified as macro-diamonds in terms of either a 0.5 mm square mesh screen size or the common Canadian reporting convention of 0.5 mm or more on the longest axis.
This kimberlite cluster covers an area of 80 sq km and is adjacent to the Monopros property where several kimberlites have returned macro-diamonds.
These combined positive results clearly establish that a new diamondiferous kimberlite field is emerging on Victoria Island.
Monopros may acquire a 51 per cent interest in the Victoria Island property by expending $2-million on exploration and making payments to Major General and Ascot totalling $200,000 over three years. Once Monopros is vested at 51 per cent, Ascot and Major General will each retain a 24.5 per cent
working interest in the property.
75 diamonds returned from Snowy Owl kimberlite
Major General Resources Ltd MGJ
Shares issued 35,650,047 Oct 27 close $0.24
Wed 28 Oct 98 News Release
Mr. Glenn Shevchenko reports The Snowy Owl kimberlite returned 75 diamonds from an 80 kilogram sample.
The sample material was derived from one short reverse circulation hole that only penetrated 12 metres into the kimberlite which is under a shallow lake. These preliminary diamond counts were reported verbally from the De Beers laboratory in South Africa and are encouraging as they compare well with diamond counts from producing kimberlites.
The final lab analyses, which are expected in the coming weeks, will havedetails on the size and weight of the diamonds. This will assist in assessing the size distribution of the recovered diamonds at the 0.5mm threshold which is used as the macrodiamond convention on most Canadian properties.
The 1998 drill program by Monopros Limited tested eight targets and intersected five kimberlites, the results of which are summarized as follows:
Kimberlite Sample Size Diamond Count
Snowy Owl 80 kg 75
Golden Plover 160 kg 39
Longspur 80 kg 9*
Phalerope 160 kg 6
Whimbrel 160 kg 1
* Includes one stone greater than 1mm.
Some of these diamonds may well be classified as macrodiamonds in terms of either a 0.5mm square mesh screen size or the common Canadian reporting convention of 0.5mm or more on the longest axis.
This kimberlite cluster covers an area of approximately 80 squarekilometres and is adjacent to the Monopros property where several kimberlites have returned macrodiamonds. These combined positive results clearly establish that a new diamondiferous kimberlite field is emerging on Victoria Island.
Monopros may acquire a 51 per cent interest in the Victoria Island property by expending $2.0-million on exploration and making payments to Major General and Ascot totalling $200,000 over three yeas. Once Monopros is vested at 51 per cent, Ascot and Major General will each retain a 24.5 per cent working interest in the property. |
