Stock Symbol: SGF: TSX
CALGARY, April 26 /CNW/ - George H. Read, P. Geo., Senior Vice President
Exploration and Development, is pleased to announce that the drilling of the
four large diameter drill (LDD) holes, targeting Pense Kimberlite in Orion
South, has been completed. A total of 1,017.20 metres of drilling was
completed in the four holes and kimberlite intersections totaling
594.71 metres were sampled for mini-bulk sample processing. These mini-bulk
samples are currently being processed through the on-site dense media
separator (DMS) plant and the concentrates from the first hole of this program
have recently been dispatched to SGS Lakefield in Ontario for final diamond
recovery. The two large diameter drill rigs have returned to the Star Diamond
Project to complete the remaining LDD holes that will be required for resource
definition on Star.
Senior Vice President Exploration and Development, George Read, states:
"This four hole LDD program on Orion South has been successfully completed
within the one month time budget. The aim of this LDD program was to target
significant (plus 100 metre) intersections of the Pense Kimberlite that
accounts for a substantial proportion (112 - 124 million tonnes) of Orion
South in the estimates of the latest geological model. Previous LDD programs
on Orion South had predominantly sampled the EJF1 and EJF2 Kimberlites and
only one hole had sampled a significant amount of Pense Kimberlite. The
diamond data from these holes will be integrated with existing macrodiamond
data on Orion South to guide decision making with respect to future
exploration for the Orion Kimberlite cluster."
The FALC-JV is currently operated by Shore Gold Inc. (Shore) with a
60 percent interest and Newmont Mining Corporation of Canada Limited (Newmont)
with a 40 percent interest. The evaluation of the Orion Kimberlite Cluster
within the FALC-JV, with a budget of approximately $66.5 million, is now the
largest work program outlined for any of the Fort a la Corne kimberlites.
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
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.
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.
For further information:
For further information: Adam Buchanan, Manager, Investor and Community
Relations at (306) 667-3503