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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (5856)	12/10/2002 10:10:54 AM
From: rdww	Respond to of 39344

this release should help move wawa along in the diamond world Band-ore completes GQ core drilling; finds breccia Band-Ore Resources Ltd BAN Shares issued 28,200,000 Dec 9 close $0.44 Tue 10 Dec 2002 News Release Mr. Wayne O'Connor reports BAND-ORE RESOURCES LTD.: DRILLING PROGRAM SUCCESSFUL ON TWO ZONES A core drilling program has been completed on the GQ diamond property, located approximately 20 kilometres north of Wawa, Ont. The drill program consisted of four holes (NQ sized core) for a total of 421 metres. The drilling was conducted to provide geological and stratigraphic information on both the Engagement zone and the Rainbow zone, as well as to provide sample material of heterolithic breccia for caustic fusion and microdiamond processing. On the Engagement zone, two holes (both inclined at -60 degrees) were drilled on the same section, perpendicular to strike and dip of local stratigraphy. Hole GQ 02-01 intersected volcaniclastic heterolithic breccia from 10 metres to 79.2 metres. Hole GQ 02-02, was collared 125 metres northeast of hole 1, and intersected volcaniclastic heterolithic breccia from 89.3 metres to 166.3 metres. The drilling on the Engagement zone confirms a dip of the breccia unit of approximately 30 degrees to the northeast, and also confirms true widths of over 69 metres. The strike of the Engagement zone breccia has been traced in outcrop and mechanically stripped areas along a minimum strike length of approximately 335 metres, and remains open in both strike directions. Kennecott's geological and geophysical interpretation suggests that the diamond-bearing stratigraphy is extensive. This theory was validated when recent prospecting and sampling discovered area SE-F located 1.1 kilometre southeast and on strike to the Engagement zone (see Stockwatch Nov. 5, 2002). Area SE-F was proven to be diamondiferous and a mini-bulk sample was taken and will be processed by dense media separation. Further fieldwork is required to verify that SE-F is the extension of the Engagement zone or another diamond-bearing unit in the same stratigraphic package. At the Rainbow zone (located two kilometres southwest of the Engagement zone near the centre of the GQ property) two shallow holes were drilled on the same setup, collared approximately 24 metres behind the discovery outcrop. Drilling was designed to determine true width and dip of the Rainbow breccia. Breccia intercepts were 16.4 metres (true width) in GQ 02-03 (drilled at -60 degrees) and 12.5 metres in GQ 02-04 (vertical hole). Other volcaniclastic units occur intermixed with mafic volcanics in both drill holes. Further drilling on the Rainbow zone is expected to commence in February, 2003, to identify a potential site for stripping and bulk sampling. Detailed logging of drill core is currently being conducted by Kennecott personnel. Sawn core samples of all breccia intersections from the four holes will be processed immediately for diamonds by caustic fusion at the ISO 9000 Guide 25 Laboratory facilities of Kennecott Canada in Thunder Bay, Ont. Thorne gold project, Timmins, Ont. Geophysics will be completed this week on the Thorne property, located near Timmins, Ont. A diamond drilling program is scheduled to commence during the week of Jan. 6, 2003. Financing The company advises that it will close a $497,700 non-brokered private placement of flow through shares and warrants this week. Seventy-nine units consisting of 15,000 flow through shares at a price of 42 cents per share and 7,500 warrants exercisable at 70 cents per share for 12 months from date of closing was fully subscribed. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com