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

To: Rick the Vet who wrote (13363)	1/26/1999 7:40:00 PM
From: .Trev	Read Replies (1) \| Respond to of 26850

For those of you waiting patiently or even impatiently here are the results. Haven't even read the 7 pages yet cos I know you want them now:- =========================================================================== From: Winspear Resources Ltd. (WSP) winspear.com mailto:info@winspear.com --------------------------------------------------------------------------- Re: News Releases - Tuesday, January 26, 1999 Results from the Snap Lake - Camsell Lake property =========================================================================== Winspear Resources Ltd. (WSP-V) is pleased to report microdiamond results received from caustic fusion analyses of kimberlite drill core intersections obtained during the 1998 winter/ spring and summer/fall seasons from the Snap Lake area of the Camsell Lake property, NWT in which Winspear has 67.7% interest and is Operator. Microdiamond results have also been received from approximately 250 kg of kimberlite representative of each of the two 100 tonne kimberlite samples obtained from the NW dyke. These results are subject to on-going evaluation by MRDI Canada, a division of H.A. Simons Ltd. Microdiamond results are being collected by Winspear to form a database from which it is hoped to derive a macro-grade predictive model for areas of the NW dyke down-dip from the sub-crop. Interpretation of this microdiamond data is in progress; for this reason, no estimate of macrodiamond grade is presented. Rather, these data are presented as the best tool presently available by which to gauge the uniformity of diamond distribution in the NW dyke. Results reported here and obtained by Lakefield Research differ from previous results because of changes in analytical procedures and additional procedural requests made by Winspear. Lakefield now recovers diamonds down to as small as 0.1mm in order to improve the recovery efficiency of diamonds greater than 0.15 mm. Consequently, some microdiamonds are now recovered that previously would have been lost during analysis. Furthermore, Winspear has requested that Lakefield sieve all diamonds and report those diamonds falling within certain sieve-size intervals as these data are more meaningfully incorporated into a geostatistical database. Evaluation of diamond distribution size-frequency curves suggests that some smaller diamonds may be lost during recovery while larger diamonds are not statistically represented in the parcels. The diamond size considered to be most representative of the diamond population in any one sample includes all those diamonds that remain on a 0.3 x 0.3 mm screen and pass through a 1.18 x 1.18 mm screen (+0.3 mm / -1.18 mm). For comparative purposes, diamonds that occur in this size interval for a sample or group of samples are normalized to diamonds / 1000 kg. At this early stage of evaluation, this value is regarded as the best measure by which to evaluate the variability of diamond abundance throughout the NW dyke. Mini-bulk sample results: Microdiamond results obtained from each of the pits from which approximately 100 tonnes of kimberlite were processed are presented below. The samples submitted for microdiamond analyses are approximately one-quarter of one percent by weight of the mini-bulk samples. -------------------------------------------------------------------- Pit 1 Pit 2 -------------------------------------------------------------------- Mini-Bulk Sample results Dry Tonnes processed 105.7 94.0 Carats recovered 90.69 138.21 Recovered Grade (carats / tonne) 0.858 1.470 Caustic Fusion results Weight processed (kg) 262.62 274.19 Total Diamonds +0.15 mm x 0.15 mm screen 503 1,001 (normalized to diamonds / 10 kg) 19.2 36.5 Diamonds +0.30 mm /-1.18 mm 127 241 (normalized to diamonds / 1000 kg) 484 879 Diamonds +1.18 mm x 1.18 mm screen 7 2 (normalized to diamonds / 1000 kg) 26.7 7.3 -------------------------------------------------------------------- The three largest diamonds recovered from these caustic fusion analyses of 536.8 kg of kimberlite from both pits are 0.234, 0.208, and 0.130 carats. These results together with the distribution of coarse diamonds obtained from processing each of the two 100 tonne samples have been combined to form a grade-size curve for the samples that will help interpret the microdiamond analyses of drill intersections from elsewhere on the NW dyke. Diamond Drill holes: Microdiamond contents of all significant kimberlite intersections have been obtained from the Spring and Summer programs in the Snap Lake area and are presented below. NW Dyke Most diamond drill intersections of the NW dyke were obtained from the northwest peninsula area of Snap Lake during the summer program. Kimberlite intersections from forty holes were analysed from some of which an upper and lower kimberlite member were analysed separately. Four holes contain only thin intersections of kimberlite from the thinning up-dip edge of the kimberlite in the southern part of the peninsula, 2 holes were drilled beyond the up-dip edge of the NW dyke, while one hole was not drilled deeply enough to intersect the NW dyke. All these holes were drilled on approximately 72 metre centres over the peninsula. In addition, a cluster of 19 holes on 20 metre centres was drilled in an area proposed for one of the 1999 bulk sample sites (referred to as the "Detailed Area" in the table below. For comparative purposes, the drilled area and the area to be tested by drilling in the 1999 program has been subdivided into blocks of 400 metre x 400 metre squares. Microdiamond results obtained from within each of these blocks are presented below: Microdiamond Analyses NW Dyke - NW Peninsula area -------------------------------------------------------------------- BLOCK -------------------------------------------------------------------- I-11 J-11* J-12 K-11 K-12 Detailed Area -------------------------------------------------------------------- Number of intersections 5 19 3 14 4 19 Total weight analysed (kg) 53.76 368.41 82.62 240.75 86.07 369.14 Total diamonds +0.15 x 0.15 mm screen 206 1504 264 965 322 1328 (normalized to diamonds / 10 kg) 38.3 40.8 31.9 40.1 37.4 36.0 Diamonds +0.3 mm, -1.18 mm 40 362 74 251 88 319 (diamonds / 1000 kg) 744 983 896 1042 1022 864 Diamonds + 1.18 mm x 1.18 mm 2 21 1 10 1 9 (normalized to diamonds / 1000 kg) 37.2 57.0 12.1 41.5 11.6 24.3 -------------------------------------------------------------------- * Area J11 data contains only those core intersections from holes drilled on 72 metre centres. Although the "Detailed Area" in which holes were drilled on 20 metre centres falls with the J11 block, the two sets of data have been separated for the purpose of this presentation. >From all the above holes drilled on the NW peninsula during the summer / fall of 1998, a total of 1200.75 kg of kimberlite was analysed by caustic fusion. This is approximately one-half of one percent of the amount of kimberlite treated from Pits 1 and 2. The three largest diamonds recovered by caustic fusion analyses of this drill core weigh 0.747, 0.691, and 0.469 carats respectively. North Shore: Three holes drilled on the north shore in the 1998 summer program intersected hypabyssal kimberlite dyke material; in one hole, there are two intersections of dyke material. These holes have opened up the north shore as an exploration target and appear to have extended the strike length of the NW kimberlite to approximately 1350 metres. Although these holes are located in two separate blocks, they are grouped for the purpose of this release. ----------------------------------------------- Number of intersections 4 Total weight analysed (kg) 38.72 Total Diamonds +0.15 x 0.15 mm screen 194 (normalized to diamonds / 10 kg 50.1 Diamonds +0.3 mm / -1.18 mm 44 (normalized to diamonds / 1000 kg) 1136 Diamonds + 1.18 x 1.18 mm 0 (normalized to diamonds / 1000 kg) 0 ----------------------------------------------- NW dyke - down-dip: During the 1998 drill programs, three diamond drill holes intersected the NW dyke down-dip and over a wide area that extends approximately 2200 metres east of the subcrop on the NW peninsula. Although each hole occurs in separate 400 metre blocks, they are grouped for the purpose of this release. ----------------------------------------------- Number of analyses 3 Total weight analysed 33.35 Total Diamonds + 0.15 x 0.15 mm screen 110 (normalized to diamonds / 10 kg) 33.0 Diamonds +0.3 mm, -1.18 mm 27 (normalized to diamonds / 1000 kg) 810 Diamonds +1.18 x 1.18 mm 1 (normalized to diamonds / 1000 kg) 30.0 ----------------------------------------------- SE Arm: During the 1998 Spring program, several drill intersections were obtained of hypabyssal kimberlite and kimberlite breccia material. These intersections have been interpreted as possibly representing three separate dykes that dip between 11 and 23 degrees to the northwest; they have been labeled A, B, and C respectively from southwest to northeast. Caustic fusion results have been obtained on the more significant intersections from each of these bodies and are presented below: -------------------------------------------------------------------- DYKE A B C -------------------------------------------------------------------- Number of analyses 4 4 8 Total weight analysed (kg) 18.59 42.36 82.3 Total diamonds + 0.15 x 0.15 mm screen 84 176 260 (normalized to diamonds / 10 kg) 45.2 41.5 31.6 Diamonds +0.3 mm, -1.18 mm 21 49 55 (normalized to diamonds / 1000 kg) 1130 1157 668 Diamonds +1.18 x 1.18 mm 0 4 2 (normalized to diamonds / 1000 kg) 0 94.4 24.3 -------------------------------------------------------------------- Grade Estimates: The microdiamond data from Snap Lake will be used to interpret a diamond grade above a commercially acceptable bottom stone-size cut-off (for example, +1.18 mm). With respect to this interpretation, Winspear notes the following: - Geostatistical evaluation of the data presented above is in progress and is not yet complete. - There is as yet no firm understanding of the sample size required to generate a satisfactory grade estimate. For Snap Lake, this refers to the number of drill holes that may have to be combined to achieve a usable sample size for grade estimation purposes. - The relation between microdiamond content and those diamonds large enough to be recovered in a commercial plant is not well understood at this time. This will be clarified by results obtained from processing the 6000 tonne bulk sample later this year. Until then, information obtained from the mini-bulk sample of 200 tonnes will be used. By using microdiamond data reported in this fashion together with macrodiamond recoveries from the mini-bulk samples taken from Pits 1 and 2, a basis has been provided by which grade estimates can be made for other areas of the dyke. Winspear and its consultants caution against the use of the caustic fusion data for these purposes. In particular, they note that such an interpretation assumes a constancy of the grade-size relationship. It is recommended that microdiamond results not be used for grade prediction until such time that Winspear and its consultants may announce the relation between microdiamond content and grade. Until then, microdiamond analyses are being presented solely as a measure of the variability of diamond abundance from place to place in the NW dyke. Winspear notes that while it is attempting to evolve a means of grade prediction, these techniques cannot be used to predict diamond value. Summary: Significant points of the information presented above are as follows: - Evaluation of microdiamond results obtained from the NW peninsula area suggests that techniques are available by which to compare relative diamond abundance throughout the NW dyke. - Evaluation of caustic fusion results of drill core obtained from drilling of the NW dyke in the NW peninsula area during the 1998 summer program indicates that diamond distribution in this area of the NW dyke is relatively uniform. - Normalized diamond abundance as estimated from caustic fusion results of drill core is approximately equal to or greater than normalized diamond abundance estimated from caustic fusion results obtained from kimberlite representative of Pits 1 and 2. - Normalized diamond abundance in Pit 1 appears to be significantly lower than diamond abundance in the NW dyke elsewhere in the NW peninsula area. By contrast, normalized diamond abundance in Pit 2 is similar to other areas of the NW dyke in the NW peninsula area. Reasons for this difference between the two mini-bulk sample sites are currently being evaluated but may reflect, in part, excess contamination of the Pit 1 sample by footwall rocks during the sampling process. - Despite fewer samples and lower total analysed weights, caustic fusion results of kimberlite from the down-dip portion of the NW dyke, from kimberlite on the north shore of Snap Lake, and kimberlite dykes from the SE arm are consistent with the interpretation that diamond abundance in these areas is similar to results obtained from drill intersections of the NW dyke on the NW peninsula. Results as discussed above are plotted on the accompanying map to allow their comparison relative to location in the Snap Lake area. winspear.com Winspear remains encouraged by the preliminary results presented above. These results are the object of on-going work that will be reported when significant conclusions are available. To facilitate direct comparison of these results with anticipated results from the 1999 program, Winspear intends to report new results in a similar format to that above. 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 contents of this news release. =========================================================================== Copyright (c) 1997, 1998 WINSPEAR RESOURCES LTD. All rights reserved. For more information, visit our website at the address winspear.com ===========================================================================

To: Rick the Vet who wrote (13363)	1/26/1999 7:48:00 PM
From: E. Charters	Read Replies (4) \| Respond to of 26850

Wise idiot replies. Yes you can claim .747 carat diamonds and all. That is part of the macro count. The last time? Well in Kirkland Lake and in the Aber Core (3 carats). Kirkland had the highest hit rate in kimberlite of any area in the world. And they had lots of diamonds in core over .25 carats. Way back in 1986. KL only had large diamonds and unfortunately never saw a big enough bulk sample to evaluate it properly. With 71 holes you could say that they may hit the odd larger diamond. This is not indicative of mineable grade however. There is no indication from this work that there is a mineable deposit. It may exist. The factor to be cautious of is that its grade and value is very hard to prove without trial mining. If you wish to hang on to your shares be my guest. If you wish to convince me that I should buy the stock, I remain unconvinced. With the experience in geology and mining that I have had you would have to do better than merely throwing rocks at me to convince me that your convictions are educated. You could for instance let me know how the micro counts compare to other mineable deposits in the world of better than one carat grade and whether this is significant. If you do not know then I suggest you find out from an authoritative source and educate us all. EC<:-}