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Gold/Mining/Energy : Raindrop Resources Ltd -- Ignore unavailable to you. Want to Upgrade?

To: StockJock-e who wrote (121)	11/27/1997 11:05:00 AM
From: steamer	Respond to of 178

FOR IMMEDIATE RELEASE November 27, 1997 NYAMIGUNGA PROPERTY DETAILS Calgary, Alberta: Harry Joujan, President of Raindrop Resources Ltd. (RAP.ASE) is pleased to announce details about their NYAMIGUNGA property in Tanzania. Raindrop's Nyamigunga Prospecting License (PL) is approximately 21 km northeast of DeBeer's Mwadui Mine and is within the bounds of the same diamondiferous kimberlite province. The 30 km2 PL contains a cluster of five diamondiferous kimberlite pipes discovered in the 1980's with ground magnetics and loam sampling. Also, there are two magnetic anomalies that were discovered in the early 1980's by a regional airborne geophysical survey that remain untested. The two untested targets and five pipes are aligned in the north-south trending Bushitala River valley. This valley has deposits of diamondiferous gravels, from three to ten metres thick, covering an area 1.6 km by 0.6 km. These diamondifeous gravels are both alluvial and residual in nature, indicating several sources of primary diamonds. Previous work (1991) yielded grades of 3 to 5 CPHT (carats per hundred tonnes) and recovered 5.7 c of good quality stones and estimated the value of these deposits at approximately $14 mil. Although these grades are marginally economic, Raindrop will use modern geophysical techniques to map the paleo-channels. These subsurface trends will have the highest alluvial diamond grades. To evaluate the five kimberlites, Raindrop will excavate 20 m3 of gravel and primary kimberlite material from the centre of each pipe. The 100 tonnes of gravel and 200 tonnes of kimberlite will be treated and tested. Also, to test for higher grade tuffaceous layers in the kimberlite, Raindrop will drill a 100 m reverse circulation borehole in each pipe. This material will be treated and analysed for microdiamonds. Raindrop will run ground geophysics over the two untested targets and follow up with a series of test pits. A series of five pits will be dug across the Bushitala River valley to evaluate the gravel deposits. Raindrop believes that Nyamigunga has excellent potential for alluvial and primary diamonds and that previous evaluations were incomplete. Raindrop' s challenge will be to locate the highest grade paleo-channels in the gravel deposits and to fully evaluate the grades of the five diamondiferous kimberlite pipes. The Alberta Stock Exchange neither approves or disapproves of the information contained herein. For further information contact Harry Joujan at (403) 205-3788 or Fax: (403) 205-3763 or E-mail raindrop@cadvision.com. SEC #82-4565