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

To: teevee who wrote (6355)	11/9/2000 8:04:43 AM
From: Gord Bolton	Respond to of 7235

SouthernEra Intersects Narrow Kimberlite Dyke at MacKay Lake TORONTO, Nov. 9 /CNW/ - SouthernEra has completed its first drill hole (ML-001) on its 70% owned MacKay Lake diamond prospect in the Northwest Territories to a depth of 1,600 metres. An intercept containing two narrow intersections of kimberlite totaling 20 centimetres was encountered at 1,316 metres. The Company's geologists believe that this intercept represents the northeast extension of De Beer's Snap Lake deposit. A second hole, ML-002, has commenced drilling approximately 800 metres east of ML-001 to test whether the kimberlite zone widens to the east. ML-001 is located in the southwest corner of the MacKay Lake claim block immediately adjacent to the Snap Lake deposit developed by Winspear Resources Ltd. and recently acquired by De Beers. The objective of the drill hole was to confirm a possible extension of the Snap Lake kimberlite dyke onto the MacKay Lake property. Winspear drilled a total of 384 holes which established that the hypabyssal kimberlite dyke is a continuous, shallow dipping tabular body that probably originates from a single magmatic source. Based on the available information SouthernEra had projected a potential kimberlite intercept in ML- 001 at approximately 1,250 metres. Winspear had reported a diamond resource of 21.7 million tonnes containing 41.1 million carats and additional inferred resources of 24.0 million tonnes containing 45.3 million carats for the Snap Lake deposit. A 6,000 tonne bulk sample from 2 pits on the dyke recovered 1.78 carats per tonne at an estimated value of US$118 per carat. SouthernEra Chairman Dr. Chris Jennings stated that "we are encouraged to find kimberlite at the projected horizon, but are disappointed with the thickness of the kimberlite zone. It is important to note, however, that some holes within the main zone of the Snap Lake deposit intersected similar thicknesses. ML-002 should provide additional information on the potential at MacKay Lake. The kimberlite from ML-001 will be sent to an independent laboratory for micro-diamond evaluation." SouthernEra Resources Limited is a diamond mining and exploration company and an emerging platinum group metals producer. The common shares of SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange. %SEDAR: 00004535E -30- For further information: SouthernEra Resources Limited: Rudi Fronk, Director, Christopher M.H. Jennings, Chairman, Howard Bird, Vice President Exploration, Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com