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TSX-V: Consolidated Pine Channel Gold Corp ( KPG )
Posted on Wednesday, May 05 @ Mountain Daylight Time by Editor
May 5, 2004
News Release: First Two Holes Drilled on Smeaton Property hit Kimberlite
United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. are pleased to announce that the first two holes drilled on their Smeaton, Saskatchewan area property have encountered significant intersections of Kimberlite.
Hole number one entered Kimberlite at a depth of 410 feet and continued in Kimberlite to a depth of 903 feet for a total intersection of 483 feet. This intersection is one of the thickest to be encountered in the Fort la Corne area to date. Hole number two entered Kimberlite at a depth of 394 feet and stayed in Kimberlite to 640 feet for a total thickness of 246 feet.
Preliminary logging of the two holes was conducted in a secure warehouse and then split. The samples from the two holes were then transported to the Saskatchewan Research Council's diamond laboratory in Saskatoon for analysis.
After a short break to allow ground conditions to thaw and dry out, drilling is about to resume on this target, with two or three more holes to be drilled. The purpose of these holes is to further define the geometry of the Kimberlite pipe and to provide further samples to assay for any diamond content.
The Smeaton property is currently jointly owned by United Carina and Pine Channel, with CMKM Diamonds Inc. (CMKX - Pink Sheets) and U.S. Canadian Minerals Inc. (UCAD - OTC Bulletin Board) each earning a 25% interest. The 25% interests will be earned by CMKM Diamond Inc. and U.S. Canadian Minerals Inc. each providing US$50,000 and each funding Cdn$200,000 worth of exploration on the 27 claim property. Following the drilling of the current target, further work will be conducted on the other areas of the property. Mr. Urban Casavant, President of CMKM Diamonds Inc., the Operator, has informed the Companies that the project is ahead of schedule and under budget.
The Qualified Person on this project is Mr. Ralph Newson of Saskatoon, Saskatchewan.
CONTACT: TEL: (306) 664-3828 Consolidated Pine Channel Gold Corp.
FAX: (306) 244-0042 Rick Walker, President, UCA and KPG
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