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Gold/Mining/Energy : Paramount Ventures & Finance -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (4339)	6/8/2000 3:12:00 PM
From: GC	Read Replies (1) \| Respond to of 4884

Thursday June 8, 1:13 pm Eastern Time Company Press Release NovaWest Resources' Drilling Encounters Second Kimberlite Body At the Bucke Diamondiferous Kimberlite Pipe in Northeastern Ontario VANCOUVER, British Columbia--(BUSINESS WIRE)--June 8, 2000-- NovaWest Resources Inc, (http://www.novawest.com; CDNX:NVE - news; Canadian Venture Exchange) is pleased to announce that its ongoing drill program has confirmed a second body of kimberlite on the company's Bucke Kimberlite Pipe Project in Northeastern Ontario. Novawest anticipates that up to three kimberlite bodies will be confirmed to exist on the property prior to the completion of the drilling. DIAMONDS: The newly identified Northwestern kimberlite/diamond body is situated approximately 500 feet west of the Main Northeastern Pipe (Diatreme) which was previously described by the company's press release dated May 30, 2000. The Northeastern Pipe was previously confirmed to host both macro and micro gem quality diamonds. Based on current drilling the new kimberlite body has a minimum width of at least 200 feet. Drilling is now being expanded to more accurately define the configuration of the new kimberlite discovery. The ongoing investigations, including the newly identified kimberlite body, have expanded the favorable textures/mineralogy to include an increasing number of sightings of chrome diopside, and lavender/purple colored garnets. These garnets, measuring 3 to 4mm, occur as both free grains and grains within fragments of ultramafic (lherzolites/eclogites). The successful discovery of the second kimberlite body raises the possibility that the third southwestern magnetic lobe is similarly generated by a body or pipe of kimberlite. The presence of three bodies of kimberlite in a relatively restricted area measuring 2300' x 2300' (700m x 700m) could possibly identify a hot spot for kimberlite generation and emplacement. NATIVE SILVER -- COBALT (Co) -- NICKEL (Ni): Cobalt-style native silver-cobalt-nickel mineralization was intersected within the Nipissing diabase intruding the Gowganda sediments west of the northeastern kimberlite. Although representing a subordinate mineral discovery target, the strength of the mineralization encountered makes further evaluation necessary. NovaWest is a Canadian exploration Company with projects in Northern Quebec (500 sq km Raglan Ni-PGM-Co-Cu Project and 50 sq km PlatiNova Ni-PGM Project), Northwestern Quebec (1200 claim Lac Rocher Ni-PGM Project), and Northeastern Ontario (GoldenPoly Zinc-Polymetallic Project, Bucke Pipe Diamondiferous Kimberlite Project and GoldStock Gold Project). ON BEHALF OF THE BOARD OF DIRECTORS Frank P. Puskas, Director -- Geologist S.E.C. Exemption 12(g)3-2(b) File No. 82-3822 Standard & Poors Listed The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. -------------------------------------------------------------------------------- Contact: NovaWest Resources Inc., Vancouver Patrick D. O'Brien, 604/683-8990 or 800/663-8990 or Alison Robinson, 604/683-8990 or 800/663-8990 Fax: 604/574-5139 Web site: novawest.com E-Mail: novawest@novawest.com E-mail this story - View most popular stories e-mailed -------------------------------------------------------------------------------- More Quotes and News: Novawest Resources Inc (Vancouver:NVE.V - news) Related News Categories: mining/metals --------------------------------------------------------------------------------