Category: Uncategorized
- Published: 29 November -0001
News Release: Favourable Macrodiamond Recoveries For 2001 Drilling Program At Fort a La Corne
Kensington Resources Ltd. (KRT - TSX-V,KNSRF OTC-BB)
Executive Summary
Kensington Resources Ltd. is pleased to announce favourable
macrodiamond recovery results from the 2001 drilling evaluation program conducted at the Fort a la Corne Diamond Project in Saskatchewan with joint venture partners De Beers and Cameco. A minibulk sample totaling 889.8 tonnes of kimberlite excavated from two separate bodies was processed for recovery of macrodiamonds greater than 1.5 mm in size. A three-stage diamond recovery process (screening, dense media separation, and final recovery) produced 463 macrodiamonds having a combined weight of 41.85 carats from kimberlite bodies 141 and 150. This total includes a number of larger stones including 7 stones >0.5 carat and an additional 9 stones ranging in size from 0.3 to 0.5 carats, all from body 141.
A total of 424 microdiamonds were recovered from 495.21 kilograms of representative kimberlite that was collected from two coreholes and processed utilizing caustic dissolution methods. Data including grade forecasts, modeled values, and results of the breakage study are expected to provide firm direction for the 2002 evaluation program.
Raw Macrodiamond Results from 2001 Drilling Program Kimberlite 150 A total of 35 macrodiamonds having a combined weight of 3.135 carats was recovered from 120.96 tonnes of kimberlite excavated by one 24 inch diameter, air-assisted, reverse circulation mud drillhole targeted on body 150 (drillhole 150-08). Individual (or interval) sample grades were variable throughout the borehole and ranged as high as 6.38 cpht. Stone recoveries are shown in Table 1.
Kimberlite 141 Diamond recoveries from nine large diameter drillholes into kimberlite 141 included 428 stones weighing 38.715 carats from a theoretical sample mass (excavated) of 768.85 tonnes of kimberlite. Borehole sample grades ranged from 2.164 cpht (drillhole 141-27) to 7.269 cpht (drillhole 141-22) and the best interval sample grades were 21.274 cpht from the lowermost 6.6 metres in 141-24, and 17.871 cpht from 174-186 metres depth in drillhole 141-22. Two samples from the upper part of two drillholes have yet to be processed due to high serpentinitic clay contents.
The preferred method of determining grades for kimberlite bodies is through statistical grade forecasting and not by simple arithmetic calculation from "raw" stone counts, however, simple grade values are valuable for comparing diamond content between drillholes.
Table 1: Macrodiamond Recovery Results for 2001 Minibulk Samples
---------------------------------------------------Microdiamond Recovery Results
Minibulk Mass Stones Total
Drillhole (tonnes) (>1.5 mm) Carats
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141-20 95.586 46 3.77
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141-21 93.399 53 6.225
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141-22 84.129 50 6.115
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141-23 104.589 72 6.140
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141-24 76.940 43 4.205
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141-25 66.681 35 1.925
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141-26 82.472 63 5.165
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141-27 76.463 26 1.655
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141-28 88.589 40 3.515
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141 Subtotal 768.848 428 38.715
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150-08 120.958 35 3.135
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2001 Program Total 889.806 463 41.850
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Representative kimberlite samples from coreholes 141-09 and 141-12 were submitted to Lakefield Research Limited in Ontario for complete diamond recovery to a lower limit of 0.074 mm (74 microns) utilizing caustic dissolution techniques. These two coreholes were selected because they showed variations in kimberlite lithotype or bedding not previously seen in the 141 body. A total of 267.67 kilograms in 32 samples, covering 158.1 metres of kimberlite intersection in corehole 141-09, yielded 153 microdiamonds collectively weighing 0.065 carats. A total of 227.54 kilograms in 28 samples, covering 140.0 metres of kimberlite intersection in corehole 141-12, yielded 271 microdiamonds collectively weighing 0.078 carats. Data for the 424 microdiamonds will be factored into the updated grade forecast for body 141.
Remaining Results To Be Released During this stage of evaluation, simple grades (carats divided by minibulk tonnes) are not considered representative of the kimberlite as a whole. The joint venture partners look forward to receiving results specific to the stated program objective of increasing the level of confidence behind the previously reported modeled revenues. This will be supported by incorporation of 2001 macrodiamond and microdiamond data with previous diamond recoveries to produce updated and refined modeled grade and dollar per carat forecasts. In addition, De Beers will report on stone luminescence studies, magnetic susceptibility studies, and macrodiamond breakage.
Kensington Resources regrets the delays in receiving and reporting final diamond recovery and evaluation results. It is hoped that the full set of 2001 results will become available before the end of June. The annual joint venture technical and management meetings will be held shortly thereafter for planning of the 2002 field program.
The Fort a la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%).
The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program was funded by Kensington, De Beers, and Cameco.
ON BEHALF OF THE BOARD OF DIRECTORS
OF KENSINGTON RESOURCES LTD.
(signed) "David H. Stone"
David H. Stone
President
TRADING SYMBOL: KRT-TSX.V
FORM 20-F FILE #0-24980
For further information, please contact:
William Callahan, Investor Relations
Kensington Resources Ltd.
Tel: 1-800-514-7859 or (250) 361-1KRT
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Robert A. Young, Investor Relations
Robert A. Young & Associates
Tel: 1-877-626-2121 or (604) 682-5123
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Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's documents filed from time to time with the B.C. Securities Commission and the U.S. Securities and Exchange Commission.
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Head Office
Suite 304, 1208 Wharf Street
Victoria, British Columbia, CANADA V8W 3B9
Tel: (250) 361-1KRT (361-1578) Fax: (250) 361-3410
Website: www.kensington-resources.com
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