Kalahari results from Back Lake; Cross Lake prospects abandoned
Kalahari Resources Inc KLA
Shares issued 36,876,005 Mar 3 close $0.37
Thu 4 Mar 99 News Release
Mr. Albert Applegath reports
The company has received an update on the Back Lake project, NWT, from its
joint venture partner, SouthernEra Resources Limited.
The sonic drilling program on the Back Lake project, NWT, commenced on Feb.
24. The focus of the program is to locate the primary kimberlite sources of
the kimberlite float material that occurs within the shoreline area of Munn
Lake and the two kimberlitic heavy mineral indicator trains that have been
traced to the shoreline of Margaret Lake.
To date, 32 till samples have been recovered from the bottom of Munn Lake
using the sonic drill. Processing of till samples for the recovery of
kimberlitic heavy mineral indicators and kimberlite float fragments is
being completed daily at the Munn Lake camp site.
Early results include the positive recovery of kimberlitic heavy mineral
indicators with kimberlite fragments noted in two samples. The sonic drill
is continuing to trace the kimberlite float material and kimberlite
indicators from the shoreline, in an up-ice direction until an up-ice cut
off to the kimberlite indicators are defined. This will narrow down and
define the primary kimberlite area.
The interests of the parties in Back Lake are as follows: SouthernEra
Resources, 70 per cent; Island Arc Resources, 10.62 per cent; and Kalahari,
19.38 per cent.
A decision was made to abandon all of the prospects in the Cross Lake area
in Ontario, consisting of Ramore, Bennett, NBC prospect, NBC II prospect,
NBC III prospect, Cross Check, Redstone North, Redstone South, Hall, O and
Ween and also the Roughing prospect in Quebec on the grounds that they are
too costly to be retained.
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