Here is the release:
Kensington's Fort a la Corne project outline
Kensington Resources Ltd KRT
Shares issued 23,966,435 1999-02-15 close $0.25
Tuesday Feb 16 1999
Mr. David Stone reports
An outline of the 1999 approved exploration program and the successful
completion of drilling four holes at the Fort a la Corne diamond project in
Saskatchewan. The Fort a la Corne diamond project is a joint venture among
Monopros Limited (30 per cent), Cameco Corporation (30 per cent), UEM Inc.
(10 per cent) and the company (30 per cent).
The primary objective of the 1999 drilling program focused on further bulk testing
kimberlite bodies 147 and 220 that yielded favourable results from previous
testing and required additional evaluations. These and a few other bodies have the
greatest economic potential on the basis of the data compiled to date. Kimberlite
bodies 147 and 220 are considered to contain in excess of 490 million tonnes and
80 million tonnes of kimberlite, respectively.
The Fort a la Corne kimberlite cluster is one of the largest clusters in the world
containing 71 kimberlite bodies. To date, 34 of the 69 kimberlite bodies tested by
drilling contain macrodiamonds.
The 1999 program consists of four reverse circulation air-blast large (11-3/4 inch)
diameter holes that were recently drilled to collect samples from kimberlite bodies
147 and 220 which join with other bodies to form a megacluster. Two drill holes
were targeted on kimberlite 220 and another two were completed on kimberlite
body 147. Approximately 64 tonnes of kimberlite material was retained from a
theoretical mass of 87 tonnes from these four drill holes. Concentrating of the
minibulk samples will begin shortly at the Monopros facility in Canada. Grab
samples collected over both one- and six-metre intervals will be retained for
petrographic examination, potential microdiamond recoveries, geochemical studies
and for the permanent archive collection. Composite grab samples from the 1999
program will be submitted to the DeBeers laboratory facility in South Africa for
microdiamond recoveries. One composite grab sample from drill hole 147-01,
which was drilled in 1991, may also be processed for the recovery of
microdiamonds. Stones recovered from these microdiamond samples will augment
the data base and enable determination of more reliable grade forecasts for
commercial size diamonds in kimberlite bodies 147 and 220.
To maintain consistency of results, macrodiamond recovered from the 1999
minibulk samples will be evaluated by both DeBeers and Dr. Luc Rombouts of
Terraconsult bvba.
Several modifications were made to the drilling system equipment and procedures
to enhance the recovery of diamonds and reduce the stone breakage during the
1999 drilling operation. Planning of modifications to the minibulk processing plant
equipment and procedures which will increase the diamond recovery efficiency is
still in progress.
The approved 1999 program was budgeted at $681,294 (Canadian). Cameco
elected not to contribute finances to the 1999 program so all costs are carried
equally by Monopros, the operator, and the company. The company's portion of
the joint venture obligation is $340,647 (Canadian), $232,000 (Canadian) of
which has been paid to the operator. |
