Kimber-X (KRXR) to Commence Magnetic Survey
2007-09-24 16:00 ET - News Release
WILMINGTON, Del. -- (Business Wire)
Kimber-X Resources Corp. Sept 24th, 2007 (Pink Sheets:KRXR) is pleased to report that it is preparing to commence a magnetic survey on the Sask Craton Joint venture, which is adjacent to the Fort a la Corne kimberlite fields. The Forte a la Corne area of Saskatchewan contains one of the most extensive kimberlite fields in the world. Current theories postulate that this area may well contain the world's largest diamond deposit.
Kimberlite is a type of rock that forms in the shape of vertical pipes in the earth’s crust and is best known for containing diamonds. The majority of diamonds mined today are found in these kimberlite pipes, which can reside in depths up to 450 kilometres deep. The most cost effective and useful method for detecting these kimberlites is to use a magnetic survey to detect the conductivity contrast of the pipes as well as the tectonic faults that assist in the development of kimberlite pipes.
KRXR’s consultants have advised that subtle magnetic features in historical surveys would have been overlooked when early discoveries were coming from kimberlites with a stronger magnetic response. Currently, there is no magnetic data available in the public domain on the Sask Craton Joint Venture. The company’s consultants feel that this property has the potential to host a subtle magnetic feature that may represent a kimberlite that could have been overlooked by past diamond exploration companies.
The Sask Craton Joint Venture property is favorably located in the Fort a la Corne kimberlite cluster, and will be surveyed with high-sensitivity magnetic surveys at a 150-300 foot interval. A weak magnetic anomaly may indicate a buried kimberlite with low magnetic response. Any anomalies discovered would be enhanced with ground gravity surveys to locate areas with higher gravimetric response, which is expected from thicker kimberlitic deposits. If the results of the magnetic survey indicate that kimberlite pipes may be present, KRXR will then take the necessary steps to prepare for mining development of the site.
Fort a la Corne, Saskatchewan, Canada and its world-class kimberlite field have seen major developments in geophysical and geological interpretation that have significantly increased the comprehension of the nature of this extraordinary deposit. Various joint ventures in Saskatchewan have now spent in excess of one half billion dollars ($500,000,000) on exploration and development and have identified numerous diamondiferous kimberlite pipes. Airborne magnetic surveys have been the primary exploration tool utilized in this area and have been successful in locating kimberlite pipes.
The two largest diamonds found in Saskatchewan (49.50 and 22.56 carats) were discovered in Fort a la Corne recently. Unique geological situations in this area have created kimberlite size and tonnage in the neighbourhood of 50 to 100 times of any other kimberlites found worldwide and total in excess of 8 billion tons.
Safe Harbour Disclaimer:
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
Contacts:
Kimber X-Resources Corp.
Investor Relations, Toll-Free: 1-888-789-0939
info@kimber-x.com
www.kimber-x.com
or
TheOpeningBell Newsletter
John Gernannt, 478-254-4138
EquityResearchIR.com
theopeningbell@cox.net
Source: Kimber-X Resources Corp.
