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

To: donkeyman who wrote (12409)	1/17/1999 10:00:00 PM
From: Cohiba	Respond to of 26850

Reminder about the potential of Camsell Lake .Trev posted on December 14 1998 Winspear' Quarterly Report of Sept 30. In it we can read: MRDI has completed preliminary scoping studies to examine the potential mineability of the NW dyke assuming those parameters established by the bulk sampling and drill program. Assuming in situ values of kimberlite of C$400/tonne (C$543/tonne was obtained from the valuation of diamonds recovered from the bulk sample) both the open pit resource and a combined open-pit/underground operation based on an hypothetical reserve of 3.5 million tonnes were found to have very stong cash flows and payback period of less than 1 year. This information together with the drill results and analytical data obtained to date suggest that the NW dyke is potentially capable of supporting a VERY SIGNIFICANT mining operation." 1) In its study, MRDI has discounted 25% of the value obtained from the evaluation in Antwerp (US$260/t instead of US$343/t) but kept the 1.14ct/t eventhough previous small samples had given a grade of over 3 ct/t. 2) It is now almost certain that the tonnage of the NW dyke alone is at least three times the 3.5 million t used by MRDI letting alone the three other dykes and the feeder. 3) If the data used by MRDI is capable of supporting a very significant mining operation, imagine what it will be when they do take into consideration that additional tonnage. 4) I understand that the grade and value/t will not be a sure thing before the 6000 t bulk sample but base on the data we have now the potential for this stock is real and tremendous and its price will reflect sooner than later. 5) Kaiser himself agrees that WSP has stong fundamentals. He's just pissed off by the fact that they did not give him or us all the information he wanted. From his last report of Jan 9: "This Tracker will likely cause the price of Winspear to sag as the market rethinks its risk-reward assessment of the Snap Lake play, but I BELIEVE that the Snap Lake play has SUFFICIENTLY STONG FUNDAMENTALS that it can mount a COMEBACK that will be much more powerful once unburdened by management's paranoid non-disclosure policies." Regards to all, Cohiba

To: donkeyman who wrote (12409)	1/17/1999 10:42:00 PM
From: Gord Bolton	Respond to of 26850

July 14, 1997 Thought this might be of intere$t. Winspear indicates that results are consistent with previous analysis. Canada NewsWire Attention Business Editors: WINSPEAR RESOURCES LTD. ANNOUNCES DIAMONDS DISCOVERED IN SNAP LAKE AREA OF CAMSELL LAKE PROJECT, NWT VANCOUVER, July 14 /CNW/ - Winspear Resources Ltd. Trading Symbol: WSP.V Winspear Resources Ltd (WSP.V) is pleased to report on diamonds recovered by caustic fusion analyses of kimberlite dyke intersections encountered during the Spring drilling program in the Snap Lake area of the Camsell Lake project, NWT. The project area is situated 140 miles northeast of Yellowknife and is a joint venture between Winspear Resources Ltd. (57.3%) - the operator - and Aber Resources Ltd. (42.7%). During this program, thirteen drill holes intersected kimberlite in a restricted area about 1 km squared on the West side of Snap Lake. A total of 137.14 kg of kimberlite from these intersections was submitted to Lakefield Research Limited for diamond analyses. Three of these intersections were also treated for recovery of indicator minerals. Of the total diamonds reported, 383 diamonds were recovered and described by Lakefield Research Limited, while 18 diamonds were recovered from the indicator mineral concentrate and were described by Winspear's Senior Mineralogist who has more than 20 years experience in this field. Some general characteristics of these diamonds are as follows: A. Grade: The weighted average grade of the thirteen intersections has been calculated as follows: Macro diamonds (one dimension - to 0.5 mm) 3.69 carats per tonne B. Colour: The colour of recovered diamonds is as follows: White - 43.7% Off-white - 3.2 Grey - 1.0 Yellow - 39.2 Off-yellow - 1.5 Amber - 7.2 Brown - 0.5 Green - 2.7 Pink - 1.0 Of note is the high proportion of yellow diamonds and the presence of pink and green diamonds in this assemblage.> C. Clarity: Diamonds from the kimberlite intersections have been described as follows: Transparent - 87.8% Translucent - 11.7% Opaque - 0.5% All yellow diamonds have been verified as natural diamonds using Raman spectrometry by the Surface Science Department, University of Western Ontario. These results were independently corroborated by Lakefield Research Limited's personnel and by Winspear's Senior Mineralogist. Although the number and size of recovered diamonds from kimberlite dyke material are too small to meaningfully extrapolate any parameter to a larger population of larger diamonds, the Joint Venture is sufficiently encouraged by these results to collect a larger sample of this material for further testing. The Summer field program on the Camsell Lake property is presently underway. Winspear personnel together with three Russian geologists headed by Dr. N. Pokhilenko have commenced a program of follow-up sampling in the Snap Lake area as well as in other parts of the property. Diamond analyses of core submitted to Lakefield Research from the kimberlite intersected at CL 186 are expected within two weeks and will be reported when received. Winspear Resources Ltd. ---------------------- Randy C. Turner, P.Geo. President and Director The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. -30- For further information: Randy C. Turner (604) 687-6644