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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: George J. Tromp who wrote (1722)	12/2/1998 11:15:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 2251

Hello George Sounds as if their $$ is safe. A bit more news this A.M.: ****** Monopros/De Beers has commenced with bulk sample program Plans Include Recovering Over 3,000 Carats From Hearne, Tuzo, Tesla and 5034 Kimberlite Pipes NASDAQ: MPVIF VSE: MPV VANCOUVER, Dec. 2 /CNW/ - Mountain Province Mining, Inc., (the Company) is pleased to announce that it has been notified by its contractor, Monopros Limited (Monopros), a wholly-owned subsidiary of De Beers Consolidated Mines Limited (De Beers), that a bulk sample program for the four pipes has been formally approved and that the cost will be approximately C$14 Million. The plans for this winter's bulk sampling program have been finalized and all necessary permits have been obtained. Monopros plans to recover approximately 1000 carats each from the Hearne, Tuzo and 5034 pipes and 200 carats from the Tesla pipe. In addition, active exploration for additional kimberlites will resume this winter. Work has already commenced. The Kennady Lake camp was re-opened on November 19th. Thickening of the ice and building of an ice airstrip is in progress. A delineation core drilling program consisting of 18 holes will commence early December. The drill holes will provide information on the contacts of the four kimberlites at depth and hence provide a better estimate of each pipe's size and shape. The Company has estimated the Hearne pipe to have a resource size of approximately 8 million tonnes (with a previously reported grade of 2.33 carats per tonne), the Tuzo pipe approximately 9 million tonnes (with a previously reported grade of 2.20 carats per tonne) and the Tesla pipe approximately 4 million tonnes (with a previously reported grade of 0.37 carats per tonne), all to a depth of 300 meters. These estimates are based on a limited number of delineation holes and the size of the geophysical anomalies. As reported before, the 5034 pipe has an estimated resource size of approximately 15 million tonnes (with a grade of 1.6 carats per tonne). The Tuzo pipe is still open to the southwest and the 5034 pipe to the northeast. Drilling of approximately 32 large diameter drill holes (12 1/4 inch diameter), totaling approximately 9600 meters and expected to yield approximately 1600 tonnes of kimberlite is expected to start in the second half of January 1999. This program is expected to take 10 - 12 weeks with an objective of obtaining approximately 1000 carats of diamonds from each of the Hearne, Tuzo and 5034 pipes and 200 carats from the Tesla pipe. This sampling will allow improved assessment of the value of the diamonds and provide more detailed information of in-situ grades. The samples will be processed in Canada and the sample concentrates will subsequently be shipped to South Africa for final recovery of the diamonds. A dedicated five tonne per hour Dense Media Separation (DMS) plant has already been constructed, is currently being commissioned, and will be shipped to Canada from South Africa in the first half of December. Processing of kimberlite ore is expected to start early in 1999. A temporary winter trail, from the Lupin winter road to the Kennady Lake Camp, will be put in to facilitate logistical support for the bulk sample drilling program. Analysis of data derived from the drill samples, various studies to be undertaken on the diamonds, and the subsequent assessment of the diamond grades and carat values will be completed in Canada and South Africa. The budget for this bulk sample program is approximately C $14 million. The Company is very pleased with this financial commitment to, as well as the fast tracking of the program by De Beers. In addition to bulk sampling of the known kimberlites, an aggressive exploration program is planned for this coming winter on both the AK and CK claim blocks, as part of ongoing efforts to discover additional kimberlite occurrences. During the summer 945 till samples were collected on the AK claims and 893 on the CJ claims. Most of the till samples on the AK claims were taken at 100 meter intervals along traverses across ice flow directions in areas where it is believed some of the more promising indicator mineral trains terminate (i.e. the heads of the trains). Numerous geophysical anomalies have been selected in the areas of the heads of several of these indicator trains. The most promising targets will be drilled this winter after full evaluation of sampling and geophysical results. Results will be announced as soon as they are available. The AK and CJ claims, located in the Northwest Territories of Canada, are held 90% by Mountain Province Mining Inc., and 1O% by Camphor Ventures (VSE:CFV). As reported in the press release on March 7, 1997, Mountain Province Mining Inc. and its partners have entered into a joint venture agreement with Monopros under which Monopros has the right to earn up to a 60% interest in the AK and CJ properties. On Behalf of the Board of Mountain Province Mining Inc. ''Jan W. Vandersande'' Jan W. Vandersande, Ph.D. President ***** Regards