New ETF Book by Larry Connors - Click here to read more
George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to announce the seventh set of diamond results from underground bulk sampling of the Orion South Kimberlite, within the Fort a la Corne Joint Venture (FALC-JV) where Shore is the operator with a 60 percent interest and Newmont Mining Corporation of Canada Limited (Newmont) has 40 percent. The diamond recoveries total 299.29 carats from 2,010.54 dry tonnes of kimberlite processed. Included in this release are results for seven kimberlite batches. A total of 1,394 commercial sized diamonds (greater than 1.18 millimetre square mesh screen), collectively weighing 299.25 carats, has been recovered from these seven batches. Forty-eight diamonds greater than one carat have been recovered and the four largest stones are: 9.37, 7.16, 5.42, and 4.77 carats, respectively. In addition, two diamonds totaling 0.04 carats were recovered down to 0.85 millimetre square mesh. The colour of 40 percent of the diamonds has been classified as white, with a further 45 percent classified as off-white.
All batches reported were collected during lateral drifting between 150 and 200 metres from the shaft station at 186 metres below surface. A map of the underground drifting showing the locations of these batches is available on the Shore website at: www.shoregold.com. Two kimberlite lithologies have been sampled by these 7 batches: Batches OS-056 to 60 and OS-63 were recovered from EJF Kimberlite and Batch OS-061was recovered from a transitional zone of mixed EJF and Pense Kimberlite. Kimberlite processed and diamond results for the seven sample batches are listed in the following table.
<<
-------------------------------------------------------------------------
Largest
Batch Location/Lithology Dry Number Total Grade Stone
No. Tonnes of Stones (carats) (cpht) (carats)
-------------------------------------------------------------------------
OS-056 OS-Refuge-010/EJF 305.26 206 44.79 14.67 4.77
-------------------------------------------------------------------------
OS-057 Sump Station-001A/EJF 324.06 218 63.25 19.52 7.16
-------------------------------------------------------------------------
OS-058 OS-Refuge-011/EJF 317.33 168 43.88 13.83 9.37
-------------------------------------------------------------------------
OS-059 Sump Station -001B/EJF 335.29 258 50.64 15.1 3.95
-------------------------------------------------------------------------
OS-060 Sump Station -001B/EJF 217.27 184 31.18 14.35 2.67
-------------------------------------------------------------------------
OS-063 Pump Station -001C/EJF 357.37 298 60.19 16.84 5.42
-------------------------------------------------------------------------
Total EJF 1,856.58 1,332 293.93 15.83
-------------------------------------------------------------------------
-------------------------------------------------------------------------
OS-061 South 3B/Transitional
Pense/EJF 153.96 64 5.36 3.48 0.40
-------------------------------------------------------------------------
>>
The four largest stones are 9.37 (Off-White), 7.16 (Off-White), 5.42 (White) and 4.77 (Off-White) carats respectively. Fourteen diamonds exceed two carats and forty-eight diamonds exceed one carat, of which sixteen are white, twenty-one are off-white, two are grey, seven are brown, one is black, and one is yellow. A total of 120 diamonds exceed 0.5 carats. Forty percent of this diamond parcel is classified white in colour, with a further forty-five percent classified as off-white. Ninety-nine percent of the carat weight of this parcel occurs in diamonds greater than 1.18 millimetre square mesh.
Senior Vice President Exploration and Development, George Read, states: "The EJF is the target lithology for diamonds within Orion South. Operating under the 2009 budget, the underground bulk sampling program has been completed and we are in the final stages of sample processing. This diamond parcel will provide grade and price estimates for use in the resource estimate for Orion South. Shore aims to determine a resource estimate for Orion South during 2009."
The diamond recovery procedure includes on-site processing of kimberlite through the modular Dense Media Separator (DMS), after which DMS concentrates are batch fed through an X-ray Flow-sort. In order to ensure the recovery of low luminosity diamonds, the Flow-sort tailings are processed over a grease table. Flow-sort and grease table concentrates are transported by a secure carrier to Mineral Services Canada Inc. for final diamond recovery. The Mineral Services process includes de-greasing, drying, screening, magnetic separation, manual sorting and diamond weighing and description. The Mineral Services facility, process and quality assurance procedures have been audited and ratified by an independent industry expert.
Senior Vice President Exploration and Development, George Read, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, is the Qualified Person responsible for the verification and quality assurance of analytical results. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners, the effects of competition in the markets in which Shore operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise required by applicable securities legislation, Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
SOURCE: Shore Gold Inc.
Joseph Dickson, Investor Relations Manager at (306) 667-3505 and www.shoregold.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.