Kennsington news on Fort a la Corne
Their excitment and efforts further spotlight CMKX's potential and will likely increase the value of the claims which we own. Bo
Victoria, B.C. Wednesday, July 28, 2004 - Kensington Resources Ltd. (the "Company") announces that the forward work program budget for the Fort à la Corne Diamond Project in Saskatchewan has been substantially increased, from $6.0 million to $7.6 million, to cover the scope of the aggressive exploration and evaluation activities that were agreed upon at the Joint Venture meeting of June 16, 2004. Drilling is scheduled to commence in August and a second phase of drilling may be implemented as early as the second quarter of 2005.
As announced in the Company's news release of June 28, 2004, the operator recommended a major shift in strategy for this year's program. Instead of assessing the average grades of individual bodies, the new approach is focused on defining the higher grade units within proximally-located priority kimberlite bodies. Considering these higher grade units in combination as a single resource will permit significant economy of scale to be achieved for a large scale mining operation.
"This is by far the largest program to date in the history of the Fort à la Corne Project," stated Robert A. McCallum, President of Kensington. "We support the major shift in strategy for this year's program and the increased budget confirms that the joint venture partners are fully committed to advancing the project to a development decision as quickly as possible."
A total of eight large diameter (36-inch or 914 mm) minibulk sampling holes will be distributed over bodies 140/141 and 122 designed to increase confidence levels in grade and revenue estimates. Additional HQ coreholes may be required as pilot holes for these large diameter drillholes. An HQ core (63.5 mm diameter) drilling program will be targeted on three of the next most prospective kimberlite bodies in the southern portion of the claims and designed specifically to test for higher-grade zones. Initial planning has resulted in placement of eight coreholes on each of the bodies. In addition, the JV will conduct an NQ core (47 mm diameter) core drilling program to test newly-defined kimberlite targets in the southern claim area that were defined by airborne magnetic and electromagnetic surveys. This part of the program includes testing the large gravity anomaly located adjacent to the east side of Kimberlite 150.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein.
Using the expertise of proven management and world-class, experienced technical advisors, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible. The Fort à la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort à la Corne Field form one of the largest diamondiferous clusters in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
OF KENSINGTON RESOURCES LTD.
(signed) "Robert A. McCallum"
Robert A. McCallum
President
