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

To: Gord Bolton who wrote (12041)	1/15/1999 2:24:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 26850

March, 1998 Haywood project: 1) Bulk sample: On the Northwest Peninsula at Snap Lake, a shallow-dipping dyke had previously been intersected over a strike length of approximately 1000 metres and about 500 metres down-dip with an average true thickness of 2.47 metres. The dyke remains open along strike and down-dip. Caustic fusion analyses of drill intersections from this dyke have indicated that it contains a significant quantity of diamonds. In the current program, two sites approximately 250 metres apart have been located on the sub-crop of the dyke from each of which approximately 100 tonnes of kimberlite material will be obtained. A 100 tonne sample has been obtained from the first site and the second 100 tonne sample should be completed within a week. All sampled kimberlite from these sites will be shipped for processing at a plant that has been agreed on by the Joint Venture partners. The purpose of this sample is to determine the grain-size distribution of diamonds in the kimberlite and to obtain a preliminary valuation of the contained diamonds. May 1998 Approximately 200 tonnes of kimberlite dyke material have been extracted and shipped to a test facility agreed to by the Joint Venture partners. Preliminary results from processing this sample for diamond recovery should be available in about eight weeks. About equal amounts of material were obtained from two sites approximately 235 metres apart on the northwest peninsula of Snap Lake which is located in the northwest corner of the Haywood project area. Caustic fusion analyses of 137.14 kg of drill core obtained from this dyke during the 1997 spring program returned 401 diamonds including 149 macro (10.9 macros / 10 kg) and 252 micro diamonds. That is more than one macro to the kilogram. WAHWAHWAHoo June 1998 During the past winter field season, approximately 100 tonnes of kimberlite from the NW dyke at Snap Lake was obtained from each of two pits that are about 235 metres apart. This material was transported to Yellowknife and processed in the Diavik plant. Results are as follows: Sample Dry Tonnes Carats No. Processed Recovered 64713 (Pit 1) 105.7 90.69 64714 (Pit 2) 94.0 138.21 For both samples, a total of 199.7 dry tonnes were processed for the recovery of 238.9 carats. This yields an average grade of 1.19 carats per dry tonne. A slotted screen measuring 1.0 mm by 9.0 mm was used as a bottom cut-off size in the processing procedure which is equivalent to a square-mesh cut-off of approximately 1.2 mm. The three largest stones recovered weigh 10.87, 8.43, and 6.03 carats, respectively. All are of gem quality. In addition, a further 18 diamonds were recovered that are more than one carat in weight. There is no significant difference in the diamond populations of the two samples. The main purpose in obtaining this kimberlite sample is to determine whether grade and values are sufficiently promising to proceed with further delineation of the kimberlite dyke. Although results to date are encouraging, initial valuation of the diamonds is required before a decision can be made as to the next step in exploration of this kimberlite dyke.