Printer Friendly
The Free Library
14,582,672 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

AZTEC Mining Announces Interest in Shore Gold's Star Kimberlite Project.


INDIANAPOLIS -- AZTEC Mining Corp. (Pink Sheets:AZTM) has acquired a 3% net profits interest in the Star Kimberlite kimberlite: see diamond.
kimberlite
 or blue ground

Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix.
 Project. Shore Gold has the right to purchase this interest for $1,000,000. The Star Kimberlite project is currently the most advanced diamond project in Saskatchewan. The Star deposit averages 88 meters in thickness and covers an area over four square kilometres. The kimberlite is covered by 90 meters of overburden, consisting mostly of sand, mudstone mud·stone  
n.
A fine-grained, dark gray sedimentary rock, formed from silt and clay and similar to shale but without laminations.



mudstone  
 and glacial till. Shore was the first company in the Fort a la Corne district to locate a root zone beneath the kimberlite crater when drill hole Star 20 intersected 539 metres of continuous kimberlite. This is the longest intersection of continuous kimberlite from a vertical drill hole ever reported in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Preliminary estimates of continuous diamond-bearing kimberlite exceed 400 million tons, as indicated by geophysical modeling and substantiated by drill holes. As of February 8, the project has recovered 3497.47 carats from 24,548.35 dry tons processed and recovered stones up to 19.7 carats in size.

On February 23, 2005 Shore Gold Inc. (SGF SGF Svenska Golfförbundet (Swedish Golf Federation)
SGF Société Générale de Financement (Quebec, Canada)
SGF Smart Game Format
SGF Simulated Gastric Fluid
) advised "that a modelled value of $135 (U.S.) per carat has been determined from the 3,050-carat parcel of diamonds recovered from the Star kimberlite." "The 3,050-carat diamond parcel was examined by four companies: R. Steinmetz and Sons N.V., WWW WWW or W3: see World Wide Web.


(World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site.
 International Diamond Consultants, Rio Tinto Rio Tinto may refer to:
  • Rio Tinto (Paraíba), in Paraíba State, Brazil.
  • Río Tinto (river), a river in Spain.
  • Rio Tinto Group, a multinational mining company.
  • Rio Tinto (Gondomar), a civil parish in the municipality of Gondomar, Portugal.
 Diamonds N.V. and BHP Billiton BHP Billiton is the world's largest mining company.[1] Its origin is in the 2001 merger of Australia's Broken Hill Proprietary Company (BHP) and the UK's Billiton, which has a South African background. The result is a dual-listed company.  Diamonds (Belgium) N.V. Each of these companies has provided Shore with a detailed report on the valuation of the diamond parcel."

This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 25, 2005
Words:374
Previous Article:Lakeview Trail Portion Opens at Diamond Valley Lake as Wildflowers Bloom in Profusion.
Next Article:New Low Prices on Vietnam Vacation Specials from go-today.com!; Roundtrip Air, 5 Nights, Sightseeing Tour and More from $839.



Related Articles
Mining for diamonds.(Brief Article)
Tri-Origin sampling for diamonds.(Tri Origin Exploration)(Brief Article)
Painstaking search required to find Saskatchewan's gold and diamonds. (Technology).
Diamonds potential untapped. (Mining).
Diamonds gold top exploration list.(Timiskaming & region: special report)
Kirkland Lake region target of diamond exploration; Dianor Resources encouraged by diamond find in northeast.(Mining)(Dianor Resources )
Attawapiskat diamond cluster expands.(Mining)(Brief Article)
AZTEC Mining Announces Interest in Kimberlite Pipe.
200+ diamonds near James Bay: junior.(AROUND THE NORTH)
Contact hunts for viable mine.(SPECIAL REPORT: MINING)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles