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 : BANDORE -- Ignore unavailable to you. Want to Upgrade?

To: don jackson who wrote (1686)	6/18/2001 3:05:19 PM
From: rdww	Read Replies (1) \| Respond to of 1692

BAN finds a 1/4 ct stone and is gonna drill and bulk! Band-Ore recovers 0.254-carat diamond Band-Ore Resources Ltd BAN Shares issued 25,218,224 Jun 15 close $1.05 Mon 18 Jun 2001 News Release Mr. Wayne O'Connor reports A 0.254-carat diamond described as a broken, white octahedral measuring 3.74 millimetres by 3.30 mm by 3.10 mm from a 12.5-tonne exploration sample has been recovered. This clearly demonstrates that larger, commercial sized diamonds are present in the Engagement zone (EZ) (formerly called the area E diatreme). The 0.254-carat stone recovered from the GQ property is the largest diamond recovered from a bedrock source in the Wawa area. In addition to the 0.254-carat diamond, 29 other diamonds ranging in size from 3.06 mm to 0.70 mm were also recovered from this sample. Twenty-seven of the diamonds had two dimensions greater than 1.0 mm, four of which had two dimensions greater than 2.0 mm. The diamonds varied in colour; 13 white, six yellow, three pink, three brown, two gray and three black diamonds. The procedure selected for the processing of the sample recovers diamonds with at least two dimensions greater than .85 mm. The company's main reason for extracting and processing such a sample at this early stage of exploration was to determine if larger commercial size diamonds occur in association with the previously reported anomalous microdiamond and macrodiamond results from the Engagement zone. The company extracted and shipped the 12,542-kilogram exploration sample to the diamond processing facility of Saskatchewan Research Council (SRC) in Saskatoon, Sask., an experienced laboratory in the recovery of diamonds. Standard laboratory security, processing and quality control protocols were assured by the laboratory. Diamonds were extracted by caustic digestion of a 0.85 mm to eight mm heavy mineral jig concentrate. The results of the 12.5-tonne exploration sample (a total of 30 diamonds weighing 0.607 carat) compare favourably with previous results obtained by caustic fusion processing. To date, the company has processed 11 samples (389.4 kg) by caustic fusion from the Engagement zone, recovering more than 12,000 diamonds, including 319 macrodiamonds (diamonds with at least one dimension greater than 0.5 mm). Of the 319 macrodiamonds recovered by caustic fusion processing, two diamonds had two dimensions greater than 0.85 mm, and only these diamonds would have been recovered by the jig process employed on the exploration sample. The company also reports that it has received the results for caustic fusion processing of two additional samples in the vicinity of the Engagement zone. One sample was collected approximately 100 metres northwest of the location of the exploration sample. Sample 51263 weighing 46.8 kg, contained 47 macrodiamonds and 446 microdiamonds. These results compare favourably with other diamond results from the Engagement zone. This sample demonstrates that the high diamond content of the EZ diatreme continues for a length of at least 250 metres. A second sample was collected approximately 300 metres due north of the Engagement zone and likely represents yet another diamond-bearing breccia. The 32 kg sample contained 10 microdiamonds. Numerous near source boulders were also located along the same northwest trend. The significant early results and the need for further geological information has led the company to make the decision to initiate a diamond drill program during the summer to further establish the dimensions and confirm the geometry of the Engagement zone. Processing of several additional multitonne samples will be required in order to further evaluate the economic diamond potential of the EZ diatreme. Additional mechanical stripping, trenching, mapping and technical studies are also planned for this summer and fall, both on the Engagement zone and other similar breccias that remain virtually unexplored in other areas on the GQ property. Numerous macrodiamonds have been recovered from these identified but unevaluated breccias. Based on the geological interpretation and the significant results from the EZ diatreme, the company has submitted an application to acquire an additional 14 square kilometres in the immediate area of the GQ property. Immediately adjacent to the north of the GQ property, Pele Mountain Resources Ltd. today announced five new diamond discoveries. Three of the new discoveries are located one kilometre or less from the northern boundary of the GQ property. All of the diamond discoveries on the Band-Ore property strike northwest-southeast, as do the enclosing rock units implying some relationship between the diamond discoveries on the two properties. The company also announces that on June 15, 2001, it completed a private placement of 139,000 flow-through special warrants at 72 cents per warrant, raising gross proceeds of $100,080. Each special warrant is exercisable, for no additional consideration, into one flow-through common share and one-half of one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share of Band-Ore at $1.00 until Dec. 15, 2002. The proceeds of the offering will be used to continue the exploration of Band-Ore's GQ diamond property. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com