OT: More on Shore Gold ...
With each new set of results, Shore Gold and their investors beam like a shiny, well polished stone.
Nipawin Journal — Optimism growing as carats rise
BY JORDIE DWYER
Journal Staff
With each new set of results, Shore Gold and their investors beam like a shiny, well polished stone.
Another set of results from the Star Kimblerlite mining project in Fort a la Corne was released last week with some exceptional numbers.
Five batches, all from the deepest part of the mining operation, recovered slightly more than 266 carats from 1,199 dry tonnes. That gives these batches a grade of 22.22 carats per hundred tonne (cpht).
A total of 1,919 stones were taken from those batches with four stones coming in at more than six carats. The largest stone was 14.6 carats.
These results bring up the overall totals to 33 batches complete representing nearly 12,200 dry tonnes of kimberlite with 1,392 carats recovered.
George Read, Shore’s senior vice president of exploration, is delighted with these latest results.
“These include a significant number of large stones and higher grades, particularly in batches 24 and 25,” said Read.
“The frequency of plus one carat stones in the Star Kimberlite will have a highly positive effect on the forthcoming diamond valuation.”
He added that the results to date indicate an average of 15.83 cpht for the kimberlite they are pulling out of the ground. That is well in excess of the number company officials believe would make a mine viable in the region.
Shore Gold also announced last week they have issued more than 11.3 million units at $2.20 per unit. The offering will provide them with another $25 million in equity financing.
Kensington changes team
Kensington Resources announced Friday that it has made some changes to its management and communications teams.
The biggest change is the appointment of Brent Jellicoe, the company’s chief geologist, to the post of Exploration manager. Jellicoe was also recently put on the joint venture management team by Kensington.
Other changes include the addition of Mel Gardner as the manager of investor relations and Ann Gibbs to public and corporate affairs.
Robert McCallum, who was appointed president in June, will now serve as the chief executive officer for Kensington.
McCallum feels all of these appointments will strengthen the company as it tries to grow its Fort a la Corne joint venture.
