To: EZbeliever who wrote (65 ) 7/6/1999 4:35:00 PM From: wayne cath Respond to of 67
Nickelodeon and Cons Trillion receive positive Zimbabwe results; new president for TLQ Consolidated Trillion Resources Ltd TLQ Shares issued 4,811,510 Jul 5 close $0.53 Tue 6 Jul 99 News Release See Nickelodeon Minerals Inc (NKM) News Release Mr. Terry Tucker and Mr. Ronald Netolitzky report Consolidated Trillion and Nickelodeon Minerals have received positive results from Cratonic N.L. on their diamond exploration program in Zimbabwe. Initial loam sampling on a 100 by 100 metre grid over the 3.8 hectare Nglube kimberlite recovered four small diamonds from the 0.5 to 1.0 millimetre screened fraction. Follow-up trenching and sampling recovered a total of 23 diamonds from the 0.5 to 1.0 mm screened fraction. A two by four mm diamond was recovered from limited testing of the coarser trench material. Indicator minerals obtained from the loam and trench samples include abundant chrome spinel, ilmenite, limited G10 garnets and very minor G9 garnets. Mineral identification has been confirmed by microprobe analysis. A drill program consisting of 13 percussion holes totalling 1,238 metres obtained further diamonds. Five diamonds ranging between 1.5 and 3.0 mm were obtained from the drill samples. Testing of very limited drill spoil concentrate recovered eight additional diamonds ranging from 0.5 to 1.0 mm in size. Diamond fragments were recovered from the drill samples which suggests that larger diamonds may have been fractured during the drilling process. The next stage of exploration will consist of the collection of up to a 500 tonne bulk sample. Cratonic may earn a 51-per-cent interest in the diamond project by spending approximately $200,000 on or before Oct. 12, 2001. Cratonic may earn a further 29-per-cent interest, for a total 80-per-cent interest, by completing a bankable feasibility study on or before Oct. 12, 2003. Upon delivery of a feasibility study, Trillion and Nickelodeon have the option to participate in their working interest or convert their interest to a 2.5-per-cent net smelter reserve with a per year cap of $10-million (U.S.). Patrick G. Downey, PEng, has been appointed president and chief executive officer of Trillion, effective immediately. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com