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 : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (177)	9/18/2002 4:06:13 PM
From: Famularo	Respond to of 16215

Kensington drills seven coreholes at Fort a la Corne Kensington Resources Ltd KRT Shares issued 41,537,631 Sep 17 close $0.78 Wed 18 Sept 2002 News Release Mr. David Stone reports SEVEN COREHOLES COMPLETED AT FORT A LA CORNE DIAMOND PROJECT Kensington Resources has completed seven NQ coreholes (diameter of 1.875 inches or 47 millimetres) located on kimberlite 141/140. The first phase of the $5.2-million (U.S.) program for 2002 consists of up to 25 coreholes targeting the centre of body 141 and the southern part of body 140. Both kimberlite bodies contain significant thicknesses of highly prospective kimberlite which have recently been understood by geological modelling to form a single body. A total of 1,001.48 metres of kimberlite were intersected from a combined metreage of 1,812.3 metres that includes overburden and bedrock. Two of the drillholes intersected exceptional thicknesses of kimberlite: 234.53 metres (approx. 770 feet) and 167.2 metres (approx. 550 feet). Table 1 below shows drilling progress to date: SUMMARY OF DRILLING PROGRESS Drillhole Top of Bottom of No. kimberlite kimberlite 141-29 105.8 m 273.00 m 140-10 110.0 m 242.00 m 140-11 102.0 m 167.00 m 140-12 102.0 m 242.90 m 140-13 110.0 m 236.60 m 140-14 109.0 m 244.25 m 140-15 102.0 m 336.53 m SUMMARY OF DRILLING PROGRESS Drillhole Kimberlite Total drillhole No. thickness depth 141-29 167.20 m 279.0 m 140-10 132.00 m 250.8 m 140-11 65.00 m 201.0 m 140-12 140.90 m 247.5 m 140-13 126.60 m 243.0 m 140-14 135.25 m 249.0 m 140-15 234.53 m 342.0 m ---------- --------- Totals: 1,001.48 m 1,812.3 m For up-to-date photos, video clips and news stories of the 2002 program, please visit the company's Web site at www.kensington-resources.com. Kensington will be updating the photos and videos on a regular basis as the drilling program progresses. Corehole drilling is being used to determine the best placement for the large diameter drillholes for minibulk sampling in the second phase of the program. The eight large diameter drillholes (three 36-inch holes and five 24-inch holes) will provide additional carats to increase the level of confidence in grade forecasts, valuations and revenue modelling by De Beers on behalf of the joint venture partners. Currently, a specialized rig from Central Caissons of Saskatoon has mobilized on site and is installing 42-inch surface casing to an average depth of 32 metres in preparation for deeper sampling in kimberlite using air-assist, mud-flood, reverse-circulation drilling by Layne-Christensen for the very-large-diameter holes. The Fort a la Corne diamond project is a joint venture among Kensington Resources (42.25 per cent), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25 per cent), Cameco Corporation (5.5 per cent) and UEM Inc. (carried 10 per cent). The 71+ kimberlite bodies of the Fort a la Corne field form one of the largest diamondiferous clusters in the world. WARNING: The company relies upon litigation protection for "forward-looking" statements.

To: Famularo who wrote (177)	9/18/2002 4:07:42 PM
From: Famularo	Read Replies (1) \| Respond to of 16215

Dunsmuir to acquire 50% interest in Portage project Majescor Resources Inc MAJ Shares issued 18,429,962 Sep 17 close $0.40 Wed 18 Sept 2002 News Release See (DVV) News Release Mr. Art Ettlinger of Dunsmuir reports DUNSMUIR VENTURES LTD. ACQUIRES INTEREST IN PORTAGE EXTENSION ... Dunsmuir Ventures has signed a formal assignment agreement with a private company to acquire an option for a 50-per-cent interest in the Portage extension project in the Otish Mountains area of Quebec. Under the agreement, the private company will assign to Dunsmuir all of its interest in an earn-in agreement it currently has with Majescor Resources covering the Portage extension properties. Under the earn-in agreement, the private company may earn a 50-per-cent interest in four properties (total 42,050 hectares) by paying to Majescor $35,000 on signing (paid) and incurring a total of $750,000 in exploration expenditures over three years. An initial $100,000 must be spent during the first year. Majescor is the project operator. In consideration for the private company assigning all of its rights under the earn-in agreement to Dunsmuir, Dunsmuir will pay to the private company $50,000 upon signing of the formal agreement (paid), issue 100,000 common shares and assume the first year exploration commitment of $100,000. If Dunsmuir finances an exploration program subsequent to the first program, it will issue a further 50,000 common shares. Upon the financing of a third exploration program by Dunsmuir, the private company will be issued 50,000 shares. If Dunsmuir enters into a joint venture agreement with Majescor, Dunsmuir agrees to issue the private company a further 100,000 common shares (300,000 shares in total) and assign to them a royalty of 5 per cent of Dunsmuir's net proceeds of production from any mine on the property. Dunsmuir may, at any time, repurchase this 5-per-cent royalty in consideration for the sum of $2-million (U.S). Portage extension properties The four property blocks, consisting of the Portage extension project, were staked by Majescor in response to a regional indicator mineral sampling program conducted by it during 2000 and 2001. Three small claim blocks located to the southwest of Majescor's Portage project each cover one positive sample site containing one indicator mineral grain. Two of the three anomalies are located near NW-SE-trending diabase dikes and are hosted by basal till. The largest and most advanced claim block (35,500 hectares) lies to the northeast of the Portage project and covers what is believed to be a 40-kilometre-long, seven-to-eight-kilometre-wide indicator mineral dispersion train. Three phases of indicator sampling have been completed by Majescor on this block as well as a recently completed airborne geophysical survey. A total of seven positive indicator mineral samples are now identified and their distribution, as well as the presence of negative, up-ice samples suggests this train is close to being constrained. Elsewhere in the Otish Mountains and subsequent to the Portage extension properties being staked, Ashton Mining of Canada Inc. announced that the Renard kimberlites on its Foxtrot property were diamond-bearing. Seven kimberlites are identified to date and in late summer, Ashton announced a further delineation drilling and mini-bulk sampling program for three of these bodies. Dunsmuir looks forward to working with Majescor on the Portage extension project and is eager to pursue its first diamond project in the province of Quebec.