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Gold/Mining/Energy : Kalahari Resources Makes Major Move Upwords
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To: Robert J. Mifsud who wrote ()5/13/1999 9:42:00 AM
From: Matt Cecile  Read Replies (1) of 349
 
Kalahari declares kimberlite discovered at Munn Lake

Kalahari Resources Inc KLA
Shares issued 36,876,005 May 12 close $0.32
Thu 13 May 99 News Release
Mr. Albert Applegath reports
After seven years and approximately $12-million (Canadian) spent, a
potential diamondiferous kimberlite sill has been discovered at Munn Lake.
Forty per cent of the pyrope garnets recovered in both the indicator
mineral train leading to the discovery and in the eight core holes in the
discovery are within the Glo field.
This is spectacular chemistry in this new producing diamond camp and argues
well for the diamond potential of the sill.
Of particular interest is the fact that one of the eight core holes in this
sill showed a 12 metre true width or 40 feet.
Management believes a large percentage of this sill can be drilled off both
on the land and from the islands in Munn Lake. In other words, year-round
drilling targets.
Within the next 10 days, the analysis of the 50 kilogram sample taken from
the core holes should be complete and announced.
Professionalism, persistence and patience are finally paying off for the
company's joint venture partner, SouthernEra Resources.
The company is appreciative of the efforts of Dr. Chris Jennings, Lee
Barker and the manager of exploration, Howard Bird.
The interest of the parties in Back Lake are as follows: SouthernEra
Resources - 70 per cent, Island Arc Resources - 10.62 per cent, and
Kalahari Resources - 19.38 per cent.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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