Post by fastwalker on Sept 20, 2004 14:12:15 GMT -5
The Company will use the latest in airborne and surface technologies to test for both magnetic and non-magnetic diamondiferous kimberlite fields using proprietary software. During this phase of exploration, the Company will identify those drill sites which evidence the best profile for diamondiferous kimberlite pipes. With over a 1,000,000 acres of claims, the Company will be able to minimize exploration costs while maximizing exploration results through the use of this state of the art technology.
Further…<br>
The new drilling rig will be used by the Company to test core samples in the diamondiferous kimberlite bodies evidencing the best software enhanced profiles. The core samples take anywhere from 3 to 5 drilling days to complete per hole depending upon set-up time and overburden thickness. The Company's claims are accessible by secondary roads but some rough-cut access routes will be necessary at more remote sites.
To what depths will we drill?
The depth of drilling will vary depending on overburden thickness with 250 to 350 feet being the norm in order to intersect diamondiferous kimberlite pipes. The Company previously announced that it intended on beginning core sampling by 1Q03, but with the new drilling rig in the field scheduling can be accelerated.
Will we simply drill one hole?
The core drilling will be in phases with 7 to 10 drill holes per month using one drilling rig with three shifts during a 24 hr. period. As additional drilling rigs become available, the Company will bring them on line with a Canadian Dollar drilling budget of $8,000,000.
What will happen to the core samples?
All core samples will be retained in the Company's secured warehouse facilities. The core will be sent to an independent laboratory for testing.
Why is that necessary to hold the core samples under lock and key?
Under the terms of the Claims Purchase and Exploration Rights Agreement with Buckshot Holdings, Ltd. and Commando Holdings, Ltd. there is a 3% NPI royalty on any facetable gemstones discovered on the claims. Both Buckshot and Commando are companies managed by Urban Casavant and beneficially owned by his family. Results of the drill core sampling will be released immediately upon testing. The Company will announce the names and backgrounds of its geologists, drill team experts, and executive advisory members in future news releases.
Further…<br>
The new drilling rig will be used by the Company to test core samples in the diamondiferous kimberlite bodies evidencing the best software enhanced profiles. The core samples take anywhere from 3 to 5 drilling days to complete per hole depending upon set-up time and overburden thickness. The Company's claims are accessible by secondary roads but some rough-cut access routes will be necessary at more remote sites.
To what depths will we drill?
The depth of drilling will vary depending on overburden thickness with 250 to 350 feet being the norm in order to intersect diamondiferous kimberlite pipes. The Company previously announced that it intended on beginning core sampling by 1Q03, but with the new drilling rig in the field scheduling can be accelerated.
Will we simply drill one hole?
The core drilling will be in phases with 7 to 10 drill holes per month using one drilling rig with three shifts during a 24 hr. period. As additional drilling rigs become available, the Company will bring them on line with a Canadian Dollar drilling budget of $8,000,000.
What will happen to the core samples?
All core samples will be retained in the Company's secured warehouse facilities. The core will be sent to an independent laboratory for testing.
Why is that necessary to hold the core samples under lock and key?
Under the terms of the Claims Purchase and Exploration Rights Agreement with Buckshot Holdings, Ltd. and Commando Holdings, Ltd. there is a 3% NPI royalty on any facetable gemstones discovered on the claims. Both Buckshot and Commando are companies managed by Urban Casavant and beneficially owned by his family. Results of the drill core sampling will be released immediately upon testing. The Company will announce the names and backgrounds of its geologists, drill team experts, and executive advisory members in future news releases.