Report on Drilling Program in the Snap Lake Area
datetime:15 Oct 1998 06:05:00 / WINSPEAR RESOURCES LTD
WINSPEAR RESOURCES LTD. ("WSP-V;WSPEF-L")
- Report on Drilling Program in the Snap Lake Area
Winspear Resources Ltd. is pleased to report on the drilling program
in the Snap Lake area, Camsell Lake property, which has now been suspended
with the on-set of winter "freeze-up" conditions. Results of the recently
completed detailed drill program on the NW dyke were reported October 5.
Since that time, an additional five holes have been drilled at Snap Lake to
further determine the extent of the NW dyke bringing the total drilled
under this program to 71 holes (5410 metres).
These holes have added significantly to the tonnage potential of the
NW kimberlite dyke as indicated below.
As recently agreed with its joint venture partner, Winspear's interest
in the Camsell Lake property is now formally established at 67.76% as a
result of its sole-funding of the original 1998 program. Winspear and its
joint venture partner each funded its pro rata share of the subsequent 1998
Supplemental Program on the property.
North Shore Holes:
Three vertical holes were drilled on the north shore of Snap Lake.
Kimberlite characteristic of the NW dyke was intersected in all holes over
potentially mineable widths. The first hole (CL98-15), collared about 200
metres north of the NW peninsula across Snap Lake on the north shore and
about 500 metres down-dip from the projected sub-crop, intersected 2.8
metres of dyke material at a depth of 98.7 metres.
The second hole (CL98-16) was collared about 150 metres north of
CL98-15 and about 450 metres east (approximately 1000 metres east of the
projected sub-crop). This hole returned two intersections of kimberlite
measuring 2.0 and 2.1 metres at a depth of 212 and 232 metres respectively.
The third hole (CL98-19) was collared approximately 300 metres north
and 100 metres east of CL98-15. This hole returned a 2.6 metre
intersection of hypabyssal kimberlite that is hosted in granitic rocks.
Down-Dip Holes:
Two deep holes, CL98-17 and CL98-18, were drilled to test the down-dip
extent of the NW dyke. Both holes were drilled from islands near the
eastern shore of Snap Lake. In the 1998 spring drilling program, hole
CL98-13, also drilled from an island on the east side of Snap Lake, had
intersected the NW dyke about 1800 metres east of the subcrop on the NW
peninsula.
Hole CL98-17 was collared about 300 metres north and 400 metres east
of CL98-13. This hole returned a 2.5 metre intersection of kimberlite
typical of the NW dyke at a depth of 478 metres that is hosted in granitic
material. This intersection occurs approximately 150 metres below the
projected depth of the NW dyke at this location and either reflects a
change in attitude or a separate segment of the NW dyke. The hanging wall
of this kimberlite intersection is marked by significant alteration of the
enclosing granitic rocks whereas the footwall is relatively unaltered.
Hole CL98-18, collared approximately 160 metres south and 350 metres
east of CL98-13, was drilled to a depth of 334 metres but only intersected
a 15 cm kimberlite dyke at a depth of 264 metres in the hole. Although
this hole tested the NW dyke as projected through from hole CL98-13, it may
not have continued deep enough to test the projection of the kimberlite
intersected in CL98-17.
Summary:
These drill holes have significantly expanded the tonnage potential of
the NW dyke system. In a northerly direction parallel to strike, a
potentially mineable thickness of hypabyssal kimberlite occurs over
approximately 1350 metres and it remains open in both directions. Notably,
substantial amounts of kimberlite may underlie the north shore of Snap Lake
where there was no previous indication of its existence from surface
sampling and prospecting. In addition, the NW kimberlite dyke system has
been extended to at least 2200 metres east of the subcrop on the NW
peninsula and it remains open down-dip. The eastern down-dip margin of the
NW kimberlite dyke system is defined only by drill holes CL98-13 and
CL98-17. At this location, the strike length of the kimberlite system is
at least 350 metres and it remains open to the north; subsequent drilling
may extend this to the south as well.
As previously reported, 43 regularly spaced holes were completed
earlier this summer under the current program on that part of the NW
peninsula underlain by the NW dyke in an area measuring about 850 by 200 -
400 metres. These results permitted MRDI Canada - a division of H.A. Simons
Ltd. (''MRDI'') to define an estimated quantity of approximately 1,348,000
tonnes of kimberlite in this restricted area. Of this total, approximately
670,000 tonnes is considered to be potentially open-pittable. Furthermore,
upon reviewing preliminary results from this drill program, MRDI identified
no insurmountable technical issues from a mining perspective.
Caustic fusion analyses of kimberlite intersections obtained from this
current program, as well as 250 kg from each of the two pits sampled this
spring, are in progress and results will be reported when they are
received. Results will contribute to the geostatistical database on
microdiamond distribution that is being established on the NW dyke for
purposes of grade prediction.
Based on widely spaced intersections to date, there is significant
tonnage potential of kimberlite in the NW dyke system. Characteristics of
the NW dyke as defined by the drill program on the peninsula offer optimism
that more regularly spaced drilling on the down-dip portion under Snap Lake
as planned for this winter season can reasonably be expected to add
significantly to its defined tonnage.
Winspear Resources Ltd.
TEL: (604) 687-6644 John A. McDonald, VP and Director
FAX: (604) 687-1405
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