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Gold/Mining/Energy : Twin Mining (formerly Twin-Gold) -- Ignore unavailable to you. Want to Upgrade?

To: _gaia who wrote (479)	5/14/2002 9:23:49 AM
From: Jordan Levitt	Read Replies (1) \| Respond to of 613

News Release... stockhouse.com Canada NewsWire Give us your message. We'll give you the world. -------------------------------------------------------------------------------- TWIN MINING CORPORATION Quotes and Charts TWG. (TSX) -------------------------------------------------------------------------------- Attention Business Editors: Twin Mining reports encouraging diamond grade modeling results at Jackson Inlet project TORONTO, May 14 /CNW/ - Twin Mining Corporation ("Twin Mining") (TWG - TSX) is pleased to announce that it has received from their Diamond Consultant AMEC E & C Services Limited - (formerly MRDI) - ("AMEC") results of diamond grade modeling from their Jackson Inlet property that project significantly higher diamond grades compared to previously reported recovered grades from the mini-bulk pit samples taken during the fall of 2001. The modeling results are presented in the table below. << ----------------------------------------------------------------- Sample Carat Weight Recovered Grade Modeled Grade Name Dry weight (+0.85mm) +0.85 mm +0.85 mm tonnes (ct / tonne) (ct / tonne) ----------------------------------------------------------------- JI-1 76.3 17.308 0.227 0.5 ----------------------------------------------------------------- JI-3 56.9 7.454 0.131 0.2 ----------------------------------------------------------------- JI-4 41.9 14.083 0.336 0.5 ----------------------------------------------------------------- JI-5 23.7 2.526 0.107 0.1 ----------------------------------------------------------------- JI-5S 2.5 0.302 0.121 0.1 ----------------------------------------------------------------- JI-6 26.9 4.535 0.169 0.3 ----------------------------------------------------------------- Total 228.2 46.207 0.202 0.4 ----------------------------------------------------------------- Notes: The modeling is strictly based on industry accepted statistical methods. Diamond extraction, selection and description was performed by Lakefield Research Limited (see press release of March 27, 2002). >> Considering the relatively small sample sizes, diamond modeling results are very encouraging and show significantly higher projected diamond grades compared to recovered grades, up to 0.5 ct/tonne. AMEC reports: "Due to the relatively small mini-bulk sample sizes, the confidence limits around the modeled grades for each individual mini-bulk sample are wide. As a result, modeled grades for each individual sample should be considered as indicative, rather than absolute, and should be viewed as one of the significant criteria for ranking the mini-bulk samples for future follow-up sampling. It should be noted that the modeled grades shown in the table represent total diamond content. A recovery factor must be applied to account for inefficiencies in a commercial processing plant." AMEC's key recommendations of the diamond modeling exercise are: 1. Twin Mining conduct a more detailed sampling program on the Freightrain anomaly to more fully understand the geology of the kimberlite body, and to investigate the potential for even higher grade areas using micro-diamond analysis. This program should include an assessment of the extent of the floating limestone reefs within the kimberlite; 2. Twin Mining sample the previously identified anomalies on the Jackson Inlet claim area. This should comprise initial micro-diamond sampling to rank and prioritise targets. High priority targets should then be sampled further using mini-bulk samples in the order of 15-20 tonnes each. Hermann Derbuch, Chairman, President and CEO of Twin Mining, stated: "Although the confidence limits around the modeled grades are wide, I am very pleased with AMEC's findings. During the summer months we plan to follow up with AMEC's recommendations to sample the 12 previously untested anomalies, as well as conduct a more detailed sampling program on the Freightrain pipe. This will be accomplished in a timely and cost effective manner." Mr. Derbuch also pointed out the many benefits of the Jackson Inlet project over other northern diamond projects. "Jackson Inlet is located in an arctic desert with no lakes covering the kimberlite pipes. There's easy access by air and a beneficial deep-sea harbor for even the largest ocean going vessels. Climate allows year-round activity and drilling, should this be required in the future. In addition, Nanisivik mine facilities will be available in the fall of 2002." Mr. Derbuch concluded, "We are encouraged with our progress and looking forward to a terrific year." Qualified Person: Mr. John Lindsay, P.Eng., AMEC's Principal Metallurgist, is Twin Mining's "Qualified Person" as defined by National Instrument 43-101. Twin Mining, in addition to exploring the Jackson Inlet diamond project on Baffin Island and the TORNGAT diamond project on the east side of Ungava Bay in northern Québec, also holds a gold mining project in Idaho, United States of America. -30- For further information: contact: Hermann Derbuch, P.Eng., Chairman, President & CEO, Tel.: (416) 777-0013, Fax: (416) 777-0014, E-mail: info@twinmining.com; TWIN MINING CORPORATION, Suite 1250, 155 University Avenue, Toronto, Ontario, M5H 3B7, Tel: (416) 777-0013, Fax: (416) 777-0014, Web-site: www.twinmining.com, E-mail: Info@twinmining.com TWIN MINING CORPORATION has 50 releases in this database. -------------------------------------------------------------------------------- General Inquiries - cnw@newswire.ca Technical Issues - webmaster@newswire.ca © 2002 Canada NewsWire Ltd. All rights reserved.