Francois, with all due respect, no one yet has the vaguest idea of the dimensions of the feeder source. How big do you inagine the pipes will be on the Hilltop and Cache properties?
1998 Exploration Results From The Hilltop Area,
NWT
datetime:12 Jan 1999 01:00:00 / WINSPEAR RESOURCES LTD
WINSPEAR RESOURCES LTD ("WSP-V;WSPEF-L")
SOUTHERNERA RESOURCES LTD ("SUF-T;SOARF-L")
- 1998 Exploration Results From The Hilltop Area, NWT
Winspear Resources Ltd. is pleased to report on 1998 exploration
results from the Hilltop area, NWT, which is situated approximately 180 km
northeast of Yellowknife. During the past year, Winspear acquired by
staking approximately 320,500 acres in this area. The northern boundary of
this area adjoins the southwest boundary of the Camsell Lake property.
Pursuant to a pre-existing agreement, Winspear has joint-ventured
approximately 90,150 acres of this property to SouthernEra Resources Ltd.
which has a 20% participating interest with Winspear holding the remaining
80%. The property held by this joint venture is now referred to as the
Cache property. The remaining area, approximately 230,350 acres and
referred to as the Hilltop property, is held 100% by Winspear. Both the
Hilltop and Cache properties are operated by Winspear.
To date, Winspear has spent about $975,000 on the combined Hilltop and
Cache properties. Work completed includes a detailed helicopter-borne
Mag/EM survey undertaken at 50 metre line-spacing comprising 8900 line-km.
A total of 781 till samples were collected of which about 65% have been
evaluated for indicator minerals. In addition, on the Hilltop property
(100% Winspear), a limited ground Mag/EM survey has been completed over a
small selected area and two targets have been tested by diamond drilling.
During the course of sampling the property this season, eight indicator
mineral trains were identified. Follow-up sampling resulted in better
definition of the trains and in the discovery of numerous small kimberlite
fragments associated with some of them. Preliminary evaluation of
indicator mineral chemistry that includes pyropes, ilmenite and chromite,
suggests that a significant number of pyropes and chromites plot within
compositional ranges normally considered to be equivalent to the "diamond
stability field".
An aggressive exploration program is being planned for this coming
winter/spring season to locate the source of the indicator minerals and
kimberlite fragments. A program budget of $1.5 million has been allocated
for follow-up geophysics and approximately 2500 metres of diamond drilling
during this winter season together with additional till sampling on the
property during the summer season. It is anticipated that the drill
program will get underway in March following completion of ground
geophysics.
TEL: (604) 687-6644 Randy C. Turner, President and Director,
FAX: (604) 687-1405 Winspear Resources
Toll-Free: 1-800-686-7744
Web Site: www.winspear.com
E-mail: randgrp@helix.net |
