Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (6290)	10/5/2000 10:56:30 AM
From: Famularo	Respond to of 7235

SouthernEra provides exploration progress SouthernEra Resources Limited SUF Shares issued 27,766,645 Oct 4 close $2.50 Thu 5 Oct 2000 News Release Mr. Rudi Fronk reports SouthernEra Resources has provided the progress of its exploration program, at its MacKay Lake, Back Lake, Lac de Gras's WI and DHK claims, and Yamba Lake properties in the Northwest Territories. MacKay Lake project The first diamond drill hole at MacKay Lake to test for a possible extension of the Snap Lake kimberlite dike developed by Winspear is progressing as expected. As of Oct. 4, the drill hole was at 860 metres. The drill hole is currently averaging 30 metres per 24 hours and should reach its targeted depth by mid-October. The first hole will be continued past its targeted depth to test for further targets. A second drill rig will be mobilized to the property by Oct. 10 in preparation for the completion of a second drill hole that will be dependant upon winter weather and light conditions. The second drill hole will be located approximately one kilometre distance from the first hole. The MacKay Lake project is a joint venture between SouthernEra -- 70 per cent and Kalahari Resources Inc. -- 30 per cent. Back Lake project Detailed till sampling has recently been completed. The purpose of the sampling survey is to further define and establish an up-ice cutoff point to the north Margaret Lake kimberlitic indicator train in order to locate the primary kimberlite source to the kimberlitic indicators. A total of 149 till samples was collected and should be fully processed by the end of December in time for the spring drilling season. The indicator train defined to date is 300 metres wide and has been traced for 7,000 metres, with individual samples returning up to 159 kimberlitic indicators. The Back Lake project is a joint venture between SouthernEra -- 60.40 per cent, Kalahari Resources Inc. -- 26.82 per cent and Island-Arc Resources Corporation -- 12.78 per cent. Lac de Gras's WI and DHK claim blocks BHP has completed the Falcon gravity airborne geophysical survey covering high-potential kimberlite portions of the WI and all of the DHK claim blocks. The claim blocks are contiguous with the BHP/DiaMet Ekati diamond mine's southern property boundary. The recorded airborne gravity data should be fully processed within two weeks. Positive airborne results will be followed up by diamond drill testing. The airborne BHP Falcon gravity technology is a proprietary system developed by BHP to detect variations in the density of surface and subsurface rocks. Such variations may be indicative of kimberlite pipes. SouthernEra has a 13.75-per-cent interest in the WI and DHK claim blocks with joint venture partners BHP, DHK Diamonds Inc. and Archon Minerals Ltd. holding 35.00-per-cent, 41.25-per-cent and 10-per-cent interests. Yamba Lake project SouthernEra has recently completed the collection of an additional 49 till samples from the Yamba Lake project. The property is located within the Lac de Gras kimberlite field and is contiguous with the northern boundary of the BHP/DiaMet Ekati diamond mine claim block where, to date, a total of eight kimberlite bodies has been discovered on the property. The till sampling survey is designed to test for the presence of kimberlitic mineral indicators that may have their source in airborne geophysical targets that are indicative of kimberlite pipe intrusions. The airborne geophysical data and till sampling results will be reviewed in preparation for a drilling campaign to be completed this upcoming spring. SouthernEra can earn a 51-per-cent interest in the project with joint venture partners Tanqueray Resources Ltd., Mill City International Inc. and Techsite Strategies Corp. holding 19.5-per-cent, 19.5-per-cent and 10-per-cent interests.