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 (682)	2/4/2003 3:01:54 PM
From: Famularo	Respond to of 16207

Shear Minerals Ltd.: Diamonds Recovered from Pyrope Beach Sands EDMONTON, ALBERTA--Shear Minerals Ltd. (SRM: TSXV) ("Shear") is pleased to announce the recovery of diamonds from beach sands at Shear's XYZ Property located in the Northwest Territories. A total of 194 kg of beach sand material was processed from which 86.16 kg of non-magnetic material was sent for caustic fusion at the Saskatchewan Research Council, Saskatoon, SK, an independent Canadian laboratory. Three diamonds were recovered measuring: * 0.44 mm by 0.42 mm by 0.28 mm using a 0.212 mm sieve; * 0.30 mm by 0.24 mm by 0.18 mm using a 0.150 mm sieve; and * 0.28 mm by 0.24 mm by 0.18 mm using a 0.150 mm sieve. "Finding diamonds in this beach sand is a technical success and speaks to the merit of the project," said Shear President, Pamela Strand. "We believe the kimberlite source for the diamonds and indicator minerals is local." In 2003, Shear intends to conduct a program of mineral sampling and geophysics at XYZ to move it forward to the drill-ready stage. XYZ is an early stage project where pyrope beach sands with abundant kimberlite indicator minerals suggest a local diamond-bearing source. Shear is earning an 80% interest in the project from Hunter Exploration, which comprises 25,000 acres of contiguous claims located along west boundary of the EKATI diamond mine property. Shear's "Pyrope Beach Sand" discovery, reported in 2002, identified high concentrations of kimberlite indicator minerals. A 5 kg un-concentrated sample yielded 15,500 pyrope garnets, 29% of which were G10's, 10,000 picroilmenites and 1,000 olivines. Shear Minerals Ltd. is a Canadian-based exploration company focusing on diamond exploration in the Canadian North. It is committed to managing funds to ensure that a high percentage is spent in the ground and is operator on all its projects. The company, which aims for the largest possible ownership in properties identified by technical merit, explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eleven diamond projects ranging from conceptual to advanced stages in the North Slave and Keewatin regions of Nunavut, the Lac de Gras region of the Northwest Territories, Northern Alberta, and Alaska. Eight of these projects are drill-ready. The company also has four gold projects, two of which are drill-ready, located in the North Slave of Nunavut.