CMKM diamonish News 3pm
Release comes after the TSX story the other day. Sold off.
News for 'CMKM' - (Casavant Mining Kimberlite International Recent Developments for Fort a la Corne)
LAS VEGAS, Aug 7, 2003 (BUSINESS WIRE) -- Casavant Mining Kimberlite
International (Pink Sheets:CMKM) is pleased to report that progress continues to
be made in developing the company's exploration interests by continuing work in
the Fort a la Corne area and in its target area selection elsewhere in Canada.
Exploration Geologist Dr. Mark Hutchison recently completed the necessary
paperwork to retain CMKI's interests in claims surrounding and adjacent to the
Kensington (KRT), Cameco, DeBeers Joint Venture and Shore Gold's (CDNX:SGF)
diamond-bearing properties in Fort a la Corne. Approximately 192,303 acres were
successfully claimed by a numbered Saskatchewan company on behalf of the company
which allows Casavant Mining mineral rights for two years for drilling and
exploration.
A recent drilling and sampling program conducted by The Fort a la Corne Joint
Venture operated by DeBeers Canada Exploration Inc. recovered a 10.23 carat
diamond from the drilling phase of the 2002 advanced exploration/evaluation
program as published in a press release dated May 21, 2003, for Kensington
Resources Ltd.
While presenting research at the recent International Kimberlite Conference in
Victoria, B.C., Hutchison was able to discuss at length issues pertaining to the
Fort a la Corne prospect. "It is generally understood that Fort a la Corne
contains some of the world's largest kimberlite bodies, many of which are
significantly diamondiferous," said Hutchison. "In the context of Canadian
diamond geology, it is widely held that Fort a la Corne is likely to produce an
economic kimberlite body which in terms of quantity of stones could easily match
total Canadian production." Hutchison obtained numerous independent opinions
from informed members of the research community supporting CMKI's strategy of
target selection by Geotem technology. Although analysis of Geotem data has not
been completed, initial indications from surveys flown over CMKI claims are
proving promising. Hutchison also was given the opportunity to examine core
samples material from diamondiferous kimberlites obtained by DeBeers and other
third-party operators from targets nearby and next to CMKI claims. CMKI is now
in a position of heightened confidence in the ability to interpret forthcoming
core from its own claims in what are expected to be unusual and interesting
kimberlites.
CMKI management is very pleased to be operating in an area of significant
diamond potential and within a climate where Canadian diamonds are receiving
deserved intense international attention.
While continuing to focus on Fort a la Corne, CMKI is remaining proactive in
expanding their asset base through target acquisition elsewhere in Canada. A
small-scale exploration program has now commenced looking at the geochemistry of
heavy mineral samples obtained from a very promising and poorly developed target
area. Negotiations are currently underway with claim holders, and once
agreements are in place and geochemical data is available, further information
will be released.
As announced prior, Casavant Mining is currently waiting for approval for drill
permits to begin the drilling phase of previously determined high-priority
targets.
There is no guarantee that drilling or further exploration will produce any
economic benefit to the company or the shareholders of the company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements, other than the statements of historical facts, contained
in this release which are not historical facts, may be deemed to contain
forward-looking statements with respect to events, the occurrence of which
involves risk and uncertainties, including, without limitation, demand and
competition for the company's products and services, the availability to the
company of adequate financing to support its anticipated activities, the ability
of the company to generate cash flow from operations and the ability of the
company to manage its operations.
SOURCE: Casavant Mining Kimberlite International
CONTACT: Casavant Mining Kimberlite International
Diamonds Hotline
Melvin O'Neil, 306-752-3755 or 877-752-3755
Fax: 306-752-3754
ipr@sasktel.net
Pennies not a zero sum game as much as some zero game.
