Post by Catdaddy on Nov 2, 2007 16:07:55 GMT -5
Fort a la Corne Joint Venture - Orion Centre Geological Estimate: 150-167 Million Tonnes of Kimberlite
biz.yahoo.com/cnw/071102/fort_a_la_corne_news.html?.v=1
Friday November 2, 12:59 pm ET
SASKATOON, SK, Nov. 2 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce a geological estimate of between 150 and 167 million tonnes of diamondiferous kimberlite within Orion Centre (145 and 219), which is within the Fort a la Corne Joint Venture (FALC-JV), where Shore Gold Inc. (Shore) is the Operator with a 60 percent interest, and Newmont Mining Corporation of Canada Limited (Newmont) has a 40 percent interest. The Orion Centre tonnage estimate is conceptual in nature and is not a mineral resource as there has not been sufficient exploration carried out to date to define a mineral resource on this property. Presently, it is uncertain if further exploration will result in the property being delineated as a mineral resource. This tonnage estimate was prepared by Shore geologists and has been reviewed by Newmont and SRK Consulting geologists. The detailed logging from the 2006 pattern drilling program, combined with relogging of all available archived core from Orion Centre, has shown that Orion Centre contains two major volcanic complexes: Kimberlites 145 and 219. Both kimberlites are predominantly composed of Early Joli Fou (EJF) aged kimberlite. The tonnes estimated for the two Orion Centre complexes, in addition to the drill statistics and kimberlite intersections, are listed in the following table.
Kimberlite Complex Estimated Tonnes Number of Total Kimberlite
(millions) Drillholes Intersected (metres)
-------------------------------------------------------------------------
Orion Centre 145 93 - 103 40 3,085
-------------------------------------------------------------------------
Orion Centre 219 57 - 64 30 2,530
-------------------------------------------------------------------------
Orion Centre Total 150 - 167 70 5,615
-------------------------------------------------------------------------
This geological estimate considers all kimberlite to a depth of 350 metres below surface and assumes an average kimberlite density of 2.30 grams per cubic centimeter. Feeder vents in Orion Centre are open at depths below 350 metres. The Orion Centre kimberlites have elongated northwest trending trough-like shapes, where detailed core logging and microdiamonds suggest sufficient interest to justify future large diameter drilling to extract macrodiamonds for further analyses.
Senior Vice President Exploration and Development, George Read, states: "This 167 million tonne estimate for Orion Centre completes the geological modeling of the Orion Kimberlite Cluster, which is now estimated to contain 1.3 to 1.5 billion tonnes of kimberlite and is the largest known accumulation of contiguous diamondiferous kimberlite in the world. Shore and Newmont aim to locate potentially economic kimberlite within the Orion Cluster using a combination of core drilling, large diameter drilling and underground bulk sampling. To this end, Orion South has been targeted first for underground bulk sampling and shaft sinking is underway."
Senior Vice President Exploration and Development, George Read, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, is the Qualified Person responsible for the verification and quality assurance of analytical results. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners; the effects of competition in the markets in which Shore operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
For further information
Adam Buchanan, Manager, Investor and Community Relations at (306) 667-3503
biz.yahoo.com/cnw/071102/fort_a_la_corne_news.html?.v=1
Friday November 2, 12:59 pm ET
SASKATOON, SK, Nov. 2 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce a geological estimate of between 150 and 167 million tonnes of diamondiferous kimberlite within Orion Centre (145 and 219), which is within the Fort a la Corne Joint Venture (FALC-JV), where Shore Gold Inc. (Shore) is the Operator with a 60 percent interest, and Newmont Mining Corporation of Canada Limited (Newmont) has a 40 percent interest. The Orion Centre tonnage estimate is conceptual in nature and is not a mineral resource as there has not been sufficient exploration carried out to date to define a mineral resource on this property. Presently, it is uncertain if further exploration will result in the property being delineated as a mineral resource. This tonnage estimate was prepared by Shore geologists and has been reviewed by Newmont and SRK Consulting geologists. The detailed logging from the 2006 pattern drilling program, combined with relogging of all available archived core from Orion Centre, has shown that Orion Centre contains two major volcanic complexes: Kimberlites 145 and 219. Both kimberlites are predominantly composed of Early Joli Fou (EJF) aged kimberlite. The tonnes estimated for the two Orion Centre complexes, in addition to the drill statistics and kimberlite intersections, are listed in the following table.
Kimberlite Complex Estimated Tonnes Number of Total Kimberlite
(millions) Drillholes Intersected (metres)
-------------------------------------------------------------------------
Orion Centre 145 93 - 103 40 3,085
-------------------------------------------------------------------------
Orion Centre 219 57 - 64 30 2,530
-------------------------------------------------------------------------
Orion Centre Total 150 - 167 70 5,615
-------------------------------------------------------------------------
This geological estimate considers all kimberlite to a depth of 350 metres below surface and assumes an average kimberlite density of 2.30 grams per cubic centimeter. Feeder vents in Orion Centre are open at depths below 350 metres. The Orion Centre kimberlites have elongated northwest trending trough-like shapes, where detailed core logging and microdiamonds suggest sufficient interest to justify future large diameter drilling to extract macrodiamonds for further analyses.
Senior Vice President Exploration and Development, George Read, states: "This 167 million tonne estimate for Orion Centre completes the geological modeling of the Orion Kimberlite Cluster, which is now estimated to contain 1.3 to 1.5 billion tonnes of kimberlite and is the largest known accumulation of contiguous diamondiferous kimberlite in the world. Shore and Newmont aim to locate potentially economic kimberlite within the Orion Cluster using a combination of core drilling, large diameter drilling and underground bulk sampling. To this end, Orion South has been targeted first for underground bulk sampling and shaft sinking is underway."
Senior Vice President Exploration and Development, George Read, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, is the Qualified Person responsible for the verification and quality assurance of analytical results. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners; the effects of competition in the markets in which Shore operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
For further information
Adam Buchanan, Manager, Investor and Community Relations at (306) 667-3503
