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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: dgz who wrote (23019)	7/16/1999 7:29:00 PM
From: marcos	Read Replies (3) \| Respond to of 26850

winspear.com 285 loonies per tonne - that's a mine. 103 diamonds over 3 carats.

To: dgz who wrote (23019)	7/16/1999 7:29:00 PM
From: Berry Picker	Respond to of 26850

Here it is Winspear diamond recovery results from Snap Lake Winspear Resources Ltd WSP Shares issued 39,238,388 1999-07-15 close $4.2 Friday Jul 16 1999 Mr. John McDonald reports A total of 5,165.81 carats of diamonds valued at $111.98 (U.S.) per carat have been recovered from processing 2,981.8 dry tonnes of kimberlite obtained from Pit 3 on the NW dyke located at Snap Lake, Haywood project, Camsell Lake property. Snap Lake is 140 miles northeast of Yellownife, NWT. Winspear is the operator of the joint venture which owns the property. Results reported below are for diamonds recovered from Pit 3 material. Pit 3 Diamond Recovery Results Dry tonnes of kimberlite processed 2,981.8 Total diamonds recovered (cleaned weight)* 5,165.81 carats Grade (carats per tonne) 1.732 Value per carat $111.98 (U.S.) Value per tonne $193.95 (U.S.) * Recovered diamonds are those that are larger than openings in a +3 diamond sieve. This is approximately equivalent to a 1.15-millimetre square mesh screen. The diamonds were recovered from a diamond recovery plant at the Lupin mine site, 250 miles northeast of Yellowknife, NWT. The smallest cut-off size of the plant was determined by slotted screens with apertures measuring 1mm by 9mm. This gives an equivalent square mesh cut-off for this plant of approximately 1.2mm. The reported grade is for those diamonds that remain on a +3 diamond sieve, which is approximately equivalent to a 1.15mm square mesh screen. Of the diamonds recovered from the Pit 3 kimberlite, three stones exceed 10.8 carats in weight and have been uniformly classified by the valuers as specials. The largest diamond recovered weighs 14.07 carats. A total of 103 stones in the parcel are classified as +3 carat diamonds. All valuations were carried out under the direction of WWW International Diamond Consultants Ltd. based in London, England. Individual valuations on the parcel were carried out by seven independent diamantaires in Antwerp and Canada. These seven values were then averaged to arrive at the value presented in this release. As part of its contract with Winspear, WWW was also responsible for arranging the transport and security of the diamond parcels from Pits 3 and 4 between the Lupin plant and Antwerp, Belgium, and their return to Canada. Pit 3 is immediately adjacent to and down dip from Pit 2 that was sampled in 1998. Some comparisons between Pit 2 and Pit 3 results are as follows: Pit 2 Pit 3 (1998) (this release) Dry tonnes processed 94.0 2,981.8 Grade (carats per tonne) 1.47 1.732 "Special stones" (more than 10.8 carats) 1 3 Plus 3 carat diamonds 5 103 Pit 3 is 260 metres south of Pit 4. Results for which were released on June 18, 1999. Some comparisons of results between Pits 3 and 4 are as follows: Pit 4 Combined Pit 3 (released Pits (this release) June 18, 1999) 3 and 4 -------------- -------------- ---------- Dry tonnes processed 2,981.8 3,003.9 5,985.7 Total diamonds recovered (carats cleaned weight) 5,165.81 5,542.27 10,708.08 Grade (carats per tonne) 1,732 1,845 1.789 Average value/carat (in U.S. dollars) 111.98 98.42 104.96 Average value/tonne (in U.S. dollars) 193.95 181.58 187.77 "Special stones" (more than 10.8 carats) 3 6 9 Plus 3 carat diamonds 103 88 191 Winspear is highly encouraged by these results and is looking forward to integrating results of caustic fusion of drill core obtained on the NW dyke with all data obtained from previous programs. Planning is under way for the future programs on the NW dyke and other targets in the Snap Lake area. Studies have been started to define the resource base that will lead to an evaluation of ore reserves and mining economics on the NW dyke.