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Gold/Mining/Energy : Winspear Diaminds (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (1096)	7/6/1999 12:45:00 AM
From: Salt'n'Peppa	Respond to of 1172

News Release: NW dyke, Snap Lake area, Camsell Lake property VANCOUVER, July 5 /CNW/ - Winspear Resources Ltd. Trading Symbol: WSP.V Winspear Resources Ltd. (WSP.V) is pleased to report on tonnage estimates made by MRDI Canada, a Division of H.A. Simons Ltd., on the NW dyke, Snap Lake area, Camsell Lake property. This property, situated approximately 140 miles northeast of Yellowknife, NWT, is operated by Winspear on behalf of the Camsell Lake joint venture. MRDI Canada has reported interim tonnage estimates based on all available drilling that has been undertaken on the NW dyke. This includes all holes completed in the 1999 spring drilling program as well as those drilled into the dyke during 1997 and 1998 programs. These tonnage estimates have also been calculated and reported below for those areas within which the kimberlite dyke exceeds 1 and 2 metres in thickness. NW Dyke - In Situ Global Tonnage Estimates ---------------------------------------------------------------------- Within Geological Model Limits ''Global Tonnage'' Estimate -------------------------------------------------- Total greater than 1 Metre greater than 2 Metres ---------------------------------------------------------------------- Total Tonnes (000's) 23,400 23,200 19,200 ---------------------------------------------------------------------- Average vertical thickness (m) 2.44 2.76 3.00 ---------------------------------------------------------------------- Number of drill hole intersections 180 175 163 ---------------------------------------------------------------------- Macrocrystic Kimberlite, tonnes (000's) 20,600 20,400 16,800 ---------------------------------------------------------------------- Average vertical thickness (m) 2.15 2.41 2.61 ---------------------------------------------------------------------- Number of drill hole intersections 180 175 163 ---------------------------------------------------------------------- Kimberlite Breccia, tonnes (000's) 1,300 1,300 1,200 ---------------------------------------------------------------------- Average vertical thickness (m) 0.49 0.16 0.18 ---------------------------------------------------------------------- Number of drill hole intersections 22 22 19 ---------------------------------------------------------------------- Internal Waste tonnes (000's) 1,500 1,500 1,200 ---------------------------------------------------------------------- Average vertical thickness (m) 0.39 0.19 0.20 ---------------------------------------------------------------------- Number of drill hole intersections 41 41 34 ---------------------------------------------------------------------- Macrocrystic kimberlite + kimberlite breccia, Total tonnes (000's) 21,900 21,600 18,000 ---------------------------------------------------------------------- Average vertical thickness 2.28 2.57 2.80 ---------------------------------------------------------------------- Number of drill hole intersections 180 175 163 ---------------------------------------------------------------------- Several aspects of these estimates are as follows: - True thickness is estimated to be at least 90% of vertical thickness as reported above over large areas of the dyke. Substitution of true for apparent thickness will not have a significant impact on tonnage calculations. - The relatively uniform thickness of the dyke is emphasized by the large percentages of total tonnage that are contained within the 1 and 2 metre thickness contours. - Kimberlite has been subdivided into macrocrystic (hypabyssal) kimberlite and kimberlite breccia. The latter is defined as kimberlite containing greater than 15% fragments of country rock more than 4 mm in diameter. Although these fragments will serve to dilute the overall diamond grade relative to inclusion-free kimberlite, relative volumes as indicated above suggests the overall impact on grade of the NW dyke will be low. MRDI Canada has also calculated that a portion of the global tonnage estimate occurs in contiguous blocks and with sufficient confidence that it can be used for feasibility study purposes to estimate the recoverable kimberlite tonnage on the NW dyke. Results of these calculations are reported below. NW dyke - In Situ Tonnage estimates within 90% Confidence Interval +/- 15% ---------------------------------------------------------------------- Within 90% Confidence Interval +/- 15% -------------------------------------------------- Total greater than 1 Metre greater than 2 Metres ---------------------------------------------------------------------- Total Tonnes (000's) 9,600 9,600 8,800 ---------------------------------------------------------------------- Average vertical thickness (m) 2.81 2.81 3.00 ---------------------------------------------------------------------- Number or drill hole intersections 140 140 132 ---------------------------------------------------------------------- Macrocrystic Kimberlite, tonnes (000's) 7,700 7,700 7,000 ---------------------------------------------------------------------- Average vertical thickness (m) 2.27 2.41 2.48 ---------------------------------------------------------------------- Number of drill hole intersections 140 140 132