From: newsout@canada-stockwatch.com
Date: Wed, 21 Apr 1999 10:04:02 -0700
Subject: Stockwatch: Major General Resources Ltd - News Release
Major General and Ascot drilling begins on Victoria Island project
Major General Resources Ltd MGJ
Shares issued 38,065,143 Apr 20 close $0.28
Wed 21 Apr 99 News Release
Also 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
I*m very excited right now.Go Major!!!!!!!!!!!!!!!!!!!!!!!!
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