Drilling has started on VI, and they are revising last years results to show more macro diamonds than originally thought in all the pipes.... kidl,
Major General Resources Ltd -
Major General and Ascot drilling begins on Victoria Island project
Major General Resources Ltd MGJShares issued 38,065,1431999-04-20 close $0.28Wednesday Apr 21 1999Also Ascot Resources Ltd (AOT) Mr. Glenn Shevchenko reports Major General Resources and Ascot Resources have announced that on April 20, 1999, their joint venture partner, De Beers, has begun core drilling on the Victoria Island project, NWT, and that the macro-diamond count has been increased for the Snowy Owl, Golden Plover and Longspur kimberlites. The drill rig is currently centred on the Snowy Owl kimberlite and has kicked off the initial program consisting of eight to 10 core holes that are to be drilled to depths of 150 metres. The program will be testing the kimberlite bodies with a series of vertical and inclined holes designed to outline their geometry and size. The centre of Snowy Owl has been determined by the detailed ground magnetic survey that commenced in late March. This magnetic survey, which is presently being completed, is part of a 200-line-kilometre survey that will also detail the Golden Plover, Longspur and Phalarope kimberlite bodies as well as nearby kimberlite dykes. The Snowy Owl kimberlite is one of three bodies that host both crater and hypabyssal facies kimberlite. As previously reported in Stockwatch, Jan. 26, 1999, percussion drill chips from Snowy Owl returned 90 diamonds from 88 kilograms of sample material. These results were supported by excellent indicator mineral chemistry, making Snowy Owl a high-priority kimberlite based on geological, geochemical and high diamond count results. De Beers has recently provided detailed measurements of the larger stones derived from the kimberlites on the Victoria Island property. These measurements have allowed for a revised macro-diamond count that is based on the macro-definition of one dimension having a length of 0.5 millimetre or greater. As outlined in the table below, there is now a total of 11 macro-diamonds; five from Snowy Owl, three from Golden Plover and three from Longspur. Two of the stones from Longspur and one stone from Golden Plover each have one dimension that exceeds one millimetre in length. Revised Diamond Count (Macro-diamond=0.5 millimetre or greater in one dimension)
Kimberlite
----------
Sample Micro- Macro- Total
Size Diamonds(1) Diamonds(2) Diamonds
------ ----------- ----------- --------
Snowy Owl
88 kg 85 5 90
Golden Plover
180 kg 41 3 44
Longspur
90 kg 36 3 39
1)less than 0.5 millimetre 2)0.5 millimetre or greater The property is jointly owned by Major General and Ascot Resources. De Beers may earn a 51 per cent interest by making cash payments totalling $200,000 and spending $2-million in exploration over three years. De Beers is in the second year of its option and have expended an estimated $350,000 to date. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
