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Gold/Mining/Energy : MILL CITY MIY-V -- Ignore unavailable to you. Want to Upgrade?

To: MZUBOZ who wrote (470)	5/10/1999 1:53:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 707

Hello MZUBOZ TQY's version largely the same but with a bit more info: Tanqueray Resources Ltd. - New Kimberlite Discovered at Yamba Lake, Northwest Territories CALGARY, May 10 /CNW/ - Tanqueray Resources Ltd. (TQY-ASE) together with joint venture partners, Mill City International Inc. (MIY-VSE) (MIYN-OTC) and Cypango Ventures Ltd. (CAV-VSE) have been advised by SouthernEra Resources Ltd. (SUF-TSE), operator of the project, of the results to date of the 1999 drill program on the Yamba Lake project which is located within the Lac De Gras kimberlite field approximately 46 kilometers to the north of the producing BHP/DiaMet Minerals' Ekati diamond mine. Following the completion of an 8,000 line kilometer helicopter mounted magnetic and electromagnetic airborne survey, a diamond drilling program commenced on April 14th, 1999 to test geophysical targets indicative of kimberlite pipe intrusions. To date, 29 geophysical targets identified by the new airborne survey have been followed-up with ground magnetic and electromagnetic (HLEM) surveys. Ground geophysical surveys are currently in progress on additional new targets. Nine diamond drill holes have been completed. Five new targets were drilled and four holes tested the previously discovered Ptarmigan and T-10 Pipes. One drill hole tested the Ptarmigan kimberlite Pipe and three drill holes tested the T-10 kimberlite Pipe. Kimberlite was intersected in all four drill holes and, upon completion of core logging, samples will be submitted for the recovery of microdiamonds. Drill testing of the five new targets has resulted in the discovery of one new kimberlite body (S141). The discovery hole, located approximately three kilometers southeast of the Ptarmigan Pipe, was drilled at an inclination of 45 degrees and tested an elongated land based magnetic low. Kimberlite was intersected from 62.00 to 76.75 meters. A second hole to define the dimensions of the body is underway. Forty-four percent of the chromites recovered from the Ptarmigan pipe occur within the diamond stability field, suggesting that the diamond potential for this kimberlite is good. Past microdiamond results from the T-10 pipe include the recovery of 62 microdiamonds and 6 macrodiamonds from 83.6 kilograms of kimberlite. (81.34 micro/macro diamonds per 100 kg). Processing of the geophysical data from the airborne survey is in progress and final maps should be available in three weeks. Final data may increase the possibility of identifying more kimberlite targets. Kimberlite indicator minerals continue to be recovered from more than 1,000 till samples collected last summer. Several pyrope garnets with excellent G-10 chemistry, and 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 joint venture partners are encouraged by the new geophysical and drilling results and expects to continue the drill program into the summer, in order to evaluate land-based and near shore kimberlitic targets. All kimberlites will be tested for diamond count. Regards