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Non-Tech : Le coin des francophones -- Ignore unavailable to you. Want to Upgrade?

To: Nicole Bourgault who wrote (3933)	9/21/1999 4:54:00 PM
From: faro	Read Replies (1) \| Respond to of 77509

Nicole pour SUF.to SOUTHERNERA RESOURCES LTD - Exploration Results at Marsfontein Indicate New Resources [36] Canadian Market News from Market News Publishing, Tuesday, September 21, 1999 at 09:33 (Published on Friday, February 21, 2003 at 05:33) SouthernEra Resources Limited is pleased to report initial results from the recent drilling program on the Company's Marsfontein Joint Venture property in South Africa (SUF 40% - De Beers 60%). The work programme consisted of reverse circulation drilling of various mineral and geophysical anomalies on the farm, including several near the M-1 Kimberlite Pipe. Approximately 6,000 metres of drilling have been completed, testing eleven of fourteen identified anomalies. The targets tested so far represent extensions of the M-3 and M-8 fissure structures previously identified, north of, and within the M-1 Kimberlite Pipe. Of the eleven targets drilled to-date, eight have discovered kimberlite. Summary 1. 1.9km of strike on new fissure system drilled on M-8 strike westwards from M-1 pipe. 2. An additional 2.4km of strike is inferred from a kimberlitic mineral soil anomaly westwards to the Marsfontein boundary on the M-8 trend. This soil anomaly also extends approximately 2km eastwards to the eastern boundary of Marsfontein. 3. A conceptual desk-top planning exercise indicates a potential 19-year life underground mine at 300,000 tonnes per annum (+/-140,000 carats) on Marsfontein. The in-situ grade estimate for this exercise was assumed to be the same as the Leopard Fissure. This, however, remains to be proven. 4. A wide-spaced drilling programme on the M-3 trend has intersected a 1 to 2m wide fissure system over a strike of approximately 1km. M-8 Trend Percussion drilling along the M-8 kimberlite fissure has produced consistent intersections of kimberlite, which indicate true thickness of between 0.4 and 2 metres at depths of 50 and 100 metres below surface. The M-8 trend includes anomalies M-9, 10, 16 and 17. The total strike length of the M-8 feature tested is now approximately 1.9 kilometres. Fill-in percussion drilling is underway. Core drilling will begin this month to confirm the dimensions and provide sample material for microdiamond testing. A distinct linear kimberlitic mineral anomaly continues a further 2.4 kilometres from the westernmost drilled intersection to the western boundary of the Marsfontein JV. It is postulated that this links up with the eastern extension of the Leopard fissure on the 100% owned Klipspringer project (See NR of 8th September, 1999). Preliminary mineral chemistry data indicate that the M-8 trend kimberlites are very similar in composition to the Klipspringer Leopard Fissure and M-1 kimberlite. The trend will also be tested for possible blows, swells or pipes. However, prospecting results to date do not suggest the presence of any significant blows or pipes. M-3 Trend Three drill holes on the M-3 trend have intersected 1 to 2 metre zones of kimberlite up to 500m west of the M-3 test pit, which is 500m from the M1 pit. A fourth hole testing the M-14 anomaly (also on the M-3 trend) has also intersected kimberlitic material nearly two kilometres from M-3. These two features (M14 and M3) do not appear to be connected, there being no heavy mineral anomaly between them. The M14 anomaly provided drill chips that do not appear to be similar in appearance or nature to the M3, M1, or M8 kimberlites. Poor recoveries of cuttings from this hole will require additional work to confirm a true kimberlite intersection. Infill drilling as well as micro-diamond recovery (and delineation) tests will be carried out in the coming weeks on the M-8 and M-3 structures. Other Resources Elsewhere at Marsfontein detailed geophysical surveys are underway to evaluate the extent of the diamondiferous gravels located south of the M-1 pipe. Once delineated, systematic sampling will be done to establish a resource base for these deposits. Other gravels on the property will also be tested. At present 579,574 tonnes of gravel and diabase ore are stockpiled at the mine site and will be treated when the M-1 kimberlite ore is depleted. The Marsfontein Joint Venture partners consider these initial results very encouraging. The indicated continuity of the M-8 and M-3 structures and chemical similarities to the known diamondiferous M-1 and Leopard Kimberlites indicate the potential for new resources for the project. Preliminary plans are being made for a possible underground sampling program of the M-8 fissure using access from the M-1 pit. A conceptual financial exercise on the possibility of a new underground mine on the farm Marsfontein suggests a potential 19-year life producing at a rate of 300,000 tons per month (+/-140,000 carats per annum, assuming similar in-situ kimberlite grades to the Leopard Fissure). Additional information will be reported when available. Since its formation in 1992 as a diamond exploration and development company, SouthernEra Resources Limited has become one of the world's leading diamond producers through its Marsfontein and Klipspringer properties in South Africa. The Company's strategic goal is to increase its long-term revenue and growth potential from both diamond and platinum mining. The Company holds an excellent portfolio of properties and projects in South Africa, Angola, Zimbabwe, Botswana, Brazil, Uruguay and in Canada's Northwest Territories. TEL: (416) 359-9282 Christopher M.H. Jennings, President FAX: (416) 359-9141 Nicholas Sayce, Investor Relations E-mail: inbox@southernera.com Internet: www.southernera.com (c) 1999 Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041.