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JNR receives final results from exploration program
By Cassandra Kyle, The StarPhoenixMarch 5, 2009
Shore Gold Inc. has released an updated NI 43-101 compliant mineral resource estimate for the explored portion of the Star kimberlite that shows a 23 per cent increase in indicated tonnes and carats.
The mineral resource estimate indicates resources of 152 million tonnes at a grade of 14 carats per hundred tonnes and inferred resources of 26 million tonnes at a grade of 12 carats per hundred tonnes. George Read, senior vice-president of exploration and development with Shore Gold, says the updated resource estimate for the Star kimberlite is a "significant milestone in the evolution of the Star diamond project.
"This updated resource estimate has increased the carats contained in the indicated resource by 23 per cent and we believe that this increase will have a significant effect on the future economics of the Star diamond project," Read said, adding the company is on track to deliver Star's reserve estimate by late 2009.
The Star kimberlite is considered to be one of the largest diamond-bearing kimberlites in the world। Shore Gold owns 100 per cent of the Star diamond project and 60 per cent of the Star West property. The remaining 40 per cent ownership on Star West is held by Newmont Mining Corp.
http://www.thestarphoenix.com/receives+final+results+from+exploration+program/1355061/story.html
ckyle@sp.canwest.com
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