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

To: Rocky510 who wrote (2680)	4/1/1999 9:19:00 AM
From: Gord Bolton	Read Replies (2) \| Respond to of 7235

SouthernEra Resources Limited - NORTHWEST TERRITORIES, CANADA UPDATE - Kimberlite body intersected at Back Lake Diamond Project - 30 possible kimberlite targets outlined to date at Yamba Lake Diamond Project TORONTO, April 1st /CNW/ - SouthernEra Resources Limited (SUF-TSE) is pleased to report on diamond exploration in the Northwest Territories. At Munn Lake, the sonic drilling program has been completed and the probable source of the kimberlite boulder material, found previously on the shoreline of Munn Lake, will be diamond drilled in the next few days. Sonic drilling has also been completed on Margaret Lake and results are pending. Whilst the airborne geophysical survey at Yamba Lake is only 66% complete, 30 airborne targets indicative of kimberlite intrusion have been selected for follow-up ground geophysical surveys and drill testing. Back Lake Diamond Project (SUF 70%) ------------------------- The Back Lake diamond project is located 100 kilometres south of Lac de Gras within the southern kimberlite field that includes the Snap Lake kimberlite dykes and the Kennady Lake kimberlite pipes. These are currently undergoing bulk sample testing by Winspear Resources and Monopros Ltd., respectively. The Back Lake project is a joint venture between SouthernEra Resources Limited, Kennecott Canada Exploration Inc., Kalahari Resources Inc. and Island-Arc Resources Corp. Munn Lake Kimberlite Target Area: The results of the recently completed sonic drilling programme suggest that the kimberlite boulders found on the shoreline of Munn Lake are derived from an inferred north to south trending, steeply dipping, kimberlite body. This appears to be at least 105 metres in strike length. Two of the vertical sonic drill holes intersected kimberlite bedrock up to 1.4 metres in thickness. Both sonic holes bottomed in kimberlite after reaching their limit of bedrock penetration and hence the true thickness is unknown. The kimberlite boulders on the shore are up to twenty-five meters in diameter. The presence of pyrope and other indicator minerals, plus a visual study of the kimberlite material suggest the two kimberlite intersections are similar to the kimberlite boulders found on shore. The chemistry analyses, to confirm this conclusion, are pending. The inferred kimberlite body lies within a north-northwest trending lake bottom depression and the southernmost sonic drill hole No. SDH 186, which intersected kimberlite, lies within 100 metres of shore and in 20 metres of water. Munn Lake Sonic Drilling Summary: - 231 sonic drill holes have been completed on Munn Lake - 199 sonic core till samples have been collected for kimberlite indicator mineral and kimberlite fragment recovery - 48 lake sediment clay samples have been submitted for geochemistry analyses - 70% of the sonic core till samples have been picked for indicator minerals - in the lake bottom depression, kimberlite fragments occur in 22 sonic till samples - kimberlitic indicator minerals and kimberlite fragments were found in a few other samples outside of the lake bottom depression SouthernEra will commence diamond drilling at Munn Lake on 2nd April to test the prospective source of the diamond bearing kimberlite boulder occurrence along the shoreline of Munn Lake. Margaret Lake Kimberlite Target Area: Two sonic drill hole fences to cover the Margaret Lake kimberlitic indicator mineral trains located about 2 kilometres northeast of Munn Lake have been completed. The objective is to define a cut-off to the indicator mineral trains and narrow down the prospective area for a kimberlite bedrock source in Margaret Lake. Twenty-one sonic holes were completed, and 26 samples collected for the recovery of kimberlitic indicator minerals and fragments. Results from this work will be available within two weeks. Yamba Lake Diamond Project (SUF 51%) -------------------------- The Yamba Lake diamond property is located within the Lac de Gras kimberlite field approximately 46 kilometres to the north of the producing BHP/Dia Met Minerals' Ekati diamond mine. The Yamba Lake project is a joint venture between SouthernEra Resources Limited, Tanqueray Resources Ltd., Mill City International Inc. and Cypango Ventures Inc. The 1999 diamond exploration programme commenced on 16th February, with an 8,000 line kilometre high resolution airborne geophysical survey at a 100 metre line spacing over the entire property. To-date approximately two-thirds of the survey have been completed. All airborne geophysical data is being processed on a daily basis at the Yamba Lake camp, to permit immediate target follow-up. Follow-up ground geophysical surveys commenced on 20th March on selected airborne geophysical targets indicative of kimberlite pipe intrusions. More than 30 airborne targets will be surveyed by the end of April. Diamond drill testing of the airborne targets will commence during the first week of April. In addition, the Ptarmigan and T-10 kimberlite pipes will be drill tested this spring for their diamond potential. %SEDAR: 00004535E -30- For further information: Christopher M.H. Jennings, President/A. Lee Barker, Senior Vice-President/Kim Freeman, Vice-President, Operations/Frank van de Water, Vice-President, Finance/Nicholas Sayce, Investor Relations, Phone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com, www.southernera.com