HELL IM BUSY U DO THE HOMEWORK
SPIDER AND KWG REACTIVATE WAWA DIAMOND PROJECT
PROPOSE UP TO 10 TONNE BULK TEST
Toronto, Ontario – July 31, 2000 - Spider Resources Inc. ("Spider") and joint venture partner KWG Resources Inc. ("KWG") announce that they have recently remitted the funds required to maintain their annual license fees to Wagner Forest Products Ltd. with respect to a 45 square kilometer property covering eight diamond occurrences in the Wawa area. The exploration plans, prompted by a recent site visit by the management team of Spider, include a mini-bulk sampling test of the original Sandor Occurrence. It is proposed that up to 10 tonnes of material from the roadside outcrop will be procured and delivered to a suitable diamond processing laboratory for analysis. This will represent the largest such sample from this area. Tenders have been put out for portions of this contract.
Historically, in late 1995, prospector Sandor Surmacz accompanied by geologist Marcelle Hauseux received diamond results from a small sample weighing 18.1 kg., that they had previously submitted to Saskatchewan Research Council. This original sample yielded 6 diamonds, one of which was a macrodiamond. In January 1996, discussions were entered into between Spider, Surmacz and Hauseux and it was agreed that as part of an initial due diligence, the sample site was visited by a representative of Spider accompanied by Mr. Surmacz. Samples were collected that verified the outcrop location of elevated diamond content. Two hundred and twenty two (222) square kilometers of land was subsequently applied for from Algoma Central Properties (precursor of Wagner Forest Products) surrounding this discovery, essentially covering all known exposures of the diamond bearing rock type that had been mapped by government geologists. During the summer of 1996 and 1997 Spider completed in excess of $600,000 worth of applicable exploration on this project area, visiting, mapping and sampling most of the occurrences of the target rock type. The property area was then reduced to the current 45 square kilometers which covered the diamond occurrences. Over the two-year exploration period, eight individual diamond occurrences were discovered, results of which are outlined below:
Sample Site
Sample #
Weight
Microdiamonds
Macrodiamonds
Grade
Max. dimension
Location
(kg)
(<0.5 mm)
(>0.5mm)
(cpht)
(mm)
Sandor Occurrence
95 HM 101
18.1
5
1
19.3
0.65 X 0.62 X 0.4
Lal-1
31.6
8
2
21
Lal-2
36
48
6
46.2
Lal-8
33.3
3
0
0.8
Sage-96
20.43
0
3
NR
Lal-200s
169.9
18
3
5
0.13 km N of SO
Lal-3
34.6
1
0
0.5
0.22 X 0.22 X 0.22
0.73 km N of SO
Lal-103
30.8
3
0
2
0.42 X 0.31 X 0.2
4.76 km N of SO
Lal-126
27.3
0
1
4
0.68 X 0.42 X 0.25
3.9 km S of SO
Men-107
28.3
6
2
14
0.91 X 0.42 X 0.38
Men-207
164.7
81
14
27
4.1 km S of SO
Men-106
27.9
1
1
4
0.57 X 0.34 X 0.26
3.5 km W of SO
Lal-161
64.7
5
4
10
0.71 X 0.42 X 0.3
Lal-163
54.4
1
0
0.5
3.7 km W of SO
Lal-216
50.6
14
1
8
0.57 X 0.45 X 0.34
Early petrographic work by Ontario government geologists, as well as consulting petrologists employed by Spider concur that the diamond bearing rock type in this area is generally referred to as actinolite-rich lamprophyre dikes, more specifically they are classified as "fine-grained spessartite lamprophyres with meta-pyroxenite inclusions". The Sandor Occurrence as well as the other seven Spider occurrences were revisited on numerous occasions by many geologists and prospectors during many Ontario government sponsored tours. As a result of the aforementioned early work that was initially pioneered by Spider, the Wawa area has once again became the focus of exploration activity related to diamonds. An additional four diamond occurrences have been identified and reported upon in the region over the past few months, three by Bandore Resources Inc. and one by Pele Mountain Resources Inc., all of which are in rock types believed to be related to the original Sandor type occurrence.
Spider is an international diamond exploration company with active programs in Canada and Brazil. Spider is quoted for trading on the CDNX exchange and currently has 101,217,027 shares outstanding.
For more information please contact:
Norman E. Brewster, President: 416 366 2856
Pierre Thomas (PT) Laflamme, Public Relations: 819 847 2879
IM TIERD TOO
NO DAMN BEER
WACKO
