Mountain Province's sample drilling of AK claims completed
Mountain Province Mining Inc MPV
Shares issued 42,444,760 Apr 7 close $2.30
Thu 8 Apr 99 News Release
Also Camphor Ventures Inc (CFV)
Mr. Jan Vandersande reports
The bulk sample kimberlite extraction from Mountain Province Mining's four
diamond pipes on the AK claims in the Northwest Territories of Canada has
been completed. Bulk sample drilling started on Jan. 16 and was completed
on April 6. A total of 1,666 tonnes of kimberlite has been extracted.
Planned delineation drilling of the four pipes was completed in mid-March.
Exploration drilling started on March 31, 1999.
Bulk Sample Program
Monopros Ltd., a wholly owned subsidiary of De Beers Consolidated Mines
Ltd., and the project operator, late last year formally committed to a bulk
sample program of the four pipes at an estimated cost of approximately
$14-million. Bulk sample drilling, using two 12.25 inch diameter reverse
circulation (RC) drills started on Jan. 16 and was completed on April 6. A
total of 1,666 tonnes of kimberlite was extracted from a total of 43 holes
drilled into the four pipes to depths of up to 300 metres. At the
completion of drilling 575 tonnes were extracted from the 5034 pipe, 454
tonnes from the Hearne pipe, 460 tonnes from the Tuzo pipe and 177 tonnes
from the Tesla pipe.
objective of sampling approximately 1,600 tonnes of kimberlite by mid-April
has been achieved and it is estimated that approximately 1,000 carats of
diamonds from each of the Hearne, Tuzo and 5034 pipes will be recovered.
This should be sufficient to model grades and values per tonne for each of
these pipes. It is anticipated that the sample from the Tesla will produce
approximately 65 carats, which together with previously recovered diamonds
from this body, will allow an improved estimate of the potential of this
pipe. The kimberlite samples are currently being processed in Canada and
the sample concentrates will subsequently be shipped to South Africa for
final recovery of the diamonds. Results are expected during the course of
this summer.
Delineation
A delineation core-drilling program commenced early in December and was
completed mid-March. A total of 16 holes were drilled. The angled drill
holes have provided additional information on the contacts of the four
kimberlites at depth. A few of the delineation drill holes have longer
kimberlite intersections than were expected, based on the initial estimates
of the dimensions of the Hearne and the Tuzo pipes. On the Tuzo pipe, two
angled holes intersected significant lengths of kimberlite (185 and 191
metres horizontally projected) at depth in the east-west and northeast to
southwest directions. These intersections indicate that the Tuzo pipe
broadens out at depth in these directions. These two holes terminated at
depths of 340 and 357 metres. This enlargement of the pipe at depth should
increase the resource size of the Tuzo body, possibly significantly.
Results from this delineation drilling program will be combined with
earlier exploration and delineation drill results and then computer
modelled to obtain improved resource tonnage estimates for the four pipes.
Exploration
A comprehensive exploration program is planned for the upcoming weeks as
part of continuing efforts to discover additional kimberlite occurrences.
During the summer of 1998, 945 till samples were collected on the AK claims
and 893 on the CJ claims. Most of the results of this sampling program
(both visual sorting and microprobe analyses) have been received. These
results are being evaluated in conjunction with previous sampling results
and the numerous geophysical anomalies that have been identified. An
additional indicator mineral train approximately 10 kilometres northeast of
Kennady Lake has been confirmed. The most promising targets on the AK
claims will be drilled during the weeks ahead. Exploration drilling,
initially in and near Kennady Lake and then on other parts of the claims
started on March 31.
The company is pleased with the progress of Monopros' work, especially
considering the large size and the complexity of the bulk sampling program
that has just been completed. Also, the company is encouraged by the
results so far and is looking forward to the exploration program and the
results this summer.
The AK and CJ claims, in the Northwest Territories of Canada, are held 90
per cent by Mountain Province Mining, and 10 per cent by Camphor Ventures.
As reported in Stockwatch March 10, 1997, Mountain Province Mining and its
partners have entered into a joint venture agreement with Monopros, under
which Monopros has the right to earn up to a 60 per cent interest in the AK
and CJ properties. |
