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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (477)	6/16/1998 8:11:00 PM
From: Zardoz	Read Replies (1) \| Respond to of 1707

NEWS RELEASE: Four kimberlites identified at Victoria Island Major General Resources Ltd MGJ Shares issued 33186119 1998-06-16 close $0.4 Tuesday Jun 16 1998 Also Ascot Resources Ltd (AOT) Mr. Glenn Shevchenko reports Victoria Island Diamond Project Four separate kimberlites have been identified from a total of seven drill tested targets. The four kimberlites are defined by plug-like geophysical signatures and have been named Phalarope, Golden Plover, Longspur and Snowy Owl in order of their drilling. All are in the northern portion of the property in the vicinity of the indicator minerals previously announced. The diamondiferous kimberlites identified by Monopros in 1997 are several tens of kilometres north of this property boundary. Testing is undertaken by a Monopros owned RC drill rig which produces rock chips ranging in size from sand to a maximum of 3cm. The identification of kimberlites is confirmed by Monopros in the field. Once identified, up to 300kg of kimberlite material is collected from each pipe, of which about one-half is shipped to the De Beers laboratory in South Africa. Testing at the laboratory consists of total dissolution with only microdiamonds and indicator minerals recovered. Any kimberlite with a significant microdiamond count may be tested further with diamond core drilling. Indicator mineral chemistry will also be compared to surface samples to ensure that all targets are explained. Field work is continuing with a helicopter borne geophysical survey detailing at least seven further targets that were identified by the reinterpretation of existing magnetic data. Portions of this data are still being interpreted and may reveal additional targets to be detailed at this time. If other kimberlite targets are developed from this work, they will be drill tested while the drill rig is on Victoria Island. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com