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

To: gemsearcher who wrote (2903)	4/15/1999 8:45:00 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 7235

Here it is: SouthernEra Resources Limited - 1999 drill programme commences on kimberlite targets at Yamba Lake, Northwest Territories - New kimberlite targets to be tested - Detailed airborne survey completed ------------------------------------------------------------------------- TORONTO, April 15 /CNW/ - SouthernEra Resources Limited (SUF-TSE), together with joint venture partners Tanqueray Resources Ltd. (TQY-ASE), Mill City International Inc. (MIY-VSE) (MIYN-OTC) and Cypango Ventures Ltd. (CAV-VSE) are pleased to announce that drilling has commenced on the 152,506 acre claim block in the Yamba Lake area of the Northwest Territories. SouthernEra has the right to earn a 51% interest in the property by spending $10 million on or before December 31, 2002. Once SouthernEra has vested at 51%, the remaining interest in the property would be held as follows: Tanqueray - 19%, Mill City - 19% and Cypango - 11%. An 8,000 line kilometre, high-resolution, helicopter-mounted magnetic and electromagnetic airborne geophysical survey has been completed over the entire Yamba Lake project using 100 metre spacing flight lines. The results of this survey combined with the previously flown 200 metre line spacing will assist in defining and locating kimberlite targets. Ground geophysics commenced in late March to follow-up a number of additional targets identified by the new airborne results. Kimberlitic indicator minerals continue to be recovered from more than 1,000 till samples collected last summer. Several pyrope garnets with excellent G-10 chemistry, which cannot be traced to the previously discovered kimberlites, have been recovered from samples. This would seem to indicate the presence of further kimberlite bodies. The 1999 drill programme commenced on 14th April, 1999 with the drilling of a target in the southern portion of the claim block. When this has been completed, the drill will systematically test other newly identified targets as ice conditions permit. In addition, the Ptarmigan and T-10 pipes, originally found by Mill City/Tanqueray in 1994 and Cypango in 1997, respectively, will be re-drilled. The Companies are encouraged by the new geophysical results and expect to continue the drill programme into the summer, in order to evaluate land-based and near-shore kimberlitic targets. All kimberlites will be tested for diamond content. Additional results will be reported when available. %SEDAR: 00004535E -30- For further information: Christopher M.H. Jennings, President, A. Lee Barker, Senior Vice-President, Howard M. Bird, Senior Geologist, Nicholas Sayce, Investor Relations: Phone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com; Web site: www.southernera.com PHIL