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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: DIAMOND JIM who wrote (2479)	2/18/1999 7:21:00 PM
From: Famularo	Respond to of 7235

SouthernEra produces 650,875 carats of M-1 diamonds to date SouthernEra Resources Limited SUF Shares issued 25,695,265 Feb 17 close $6.40 Thu 18 Feb 99 News Release Mr. Christopher Jennings reports In January and February 1999, the remaining 197,006 carats of the 1998 production of Marsfontein M-1 diamonds was valued by De Beers at an average price of $130.74 (U.S.) per carat. During the four-month period, September to December 1998, 528,754 carats of diamonds from the Marsfontein M-1 pipe were recovered, with a total value of $83,340,966 (U.S.). Total production of diamonds from the M-1 pipe, from September 1998 to date, now stands at 650,875 carats. More than 80 per cent of the total value of production to date has been contributed by diamonds of one carat or greater. These larger diamonds constitute slightly over 50 per cent of the total carats recovered. The sonic drilling program on the Back Lake project in the Northwest Territories will commence on Feb. 24. The initial focus of the program will be to locate the primary kimberlite pipe sources of: the extensive Yuryi kimberlite ice-rafted float material that occurs within the shoreline area of Munn Lake; and, the two kimberlitic heavy mineral indicator trains that have been traced to the shoreline of Margaret Lake. The Yuryi kimberlite float hosts spectacular pyrope garnet chemistry with over 40 per cent of the pyropes occurring within the G-10 field, suggesting that the diamond potential of the primary kimberlite source is excellent. The Yuryi kimberlite has returned 226 diamonds, including 62 macrodiamonds from 581 kilograms of processed kimberlite (a macrodiamond has one dimension greater than 0.5 of a millimetre). One 0.12 of a carat diamond was also recovered from the sample. The Yamba Lake property is within the Lac de Gras kimberlite field approximately 45 kilometres to the north of the producing BHP/DiaMet Minerals' Ekati diamond mine. To date six kimberlite pipes have been discovered on the property. It is planned to drill test the T-10 and Ptarmigan pipes. An 8,000-line kilometre high-resolution magnetic and electromagnetic airborne survey will commence on Feb. 18 at a 100-metre line spacing. The recovery of kimberlitic heavy minerals from over 1,000 till samples collected during August 1998 is continuing. A number of high-interest pyrope garnets with excellent G-10 chemistry that do not relate to the known kimberlite pipes on the property have been recovered. This would seem to suggest further possible sources or bodies of kimberlite. Geophysical anomalies indicative of kimberlite pipe intrusions selected from the airborne survey will also be drill tested in the spring.