Archangel Diamond -- first diatreme grades from Pipe 441 announced from Verkhotina.VANCOUVER, B.C.--(BUSINESS WIRE)--June 27, 1996--Archangel Diamond Corp., together with its Russian joint venture partner AG, is pleased to announce the latest evaluation results from Pipe 441 on their Verkhotina tenement in NW Russia. Recent drilling has intersected the kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. diatreme diatreme A volcanic pipe, filled with breccia, formed by a subterranean gaseous explosion. See illustration at batholith. and results of the first intersection are very encouraging. Hole 42 intersected the pipe rim. Crater facies facies /fa·ci·es/ (fa´she-ez) pl. fa´cies [L.] 1. the face. 2. surface; the outer aspect of a body part or organ. 3. expression (1). , comprising of interbedded tuffic breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. and sandstone, was intersected at a depth of 66.4m to 172.3m, giving an average grade of 21 carats per 100 tonnes (21 cpht) (using gravity techniques) from a sample of 446kg. The hole intersected weathered kimberlite between 172.3m to 173.4m before entering country rock. The grade of this intersection (derived from thermochemical analysis) is 602 carats per 100 tonnes (602 cpht). The stones recovered are predominantly colourless colourless or US colorless Adjective 1. without colour: a colourless gas 2. dull and uninteresting: a colourless personality 3. octahedrons. -0-
Sample Diamonds recovered Avg. Grade
Interval Weight -2 + 1mm -1 + 0.5mm Total (cpht)
(M) (kg) Weight
66.4-172.3 446 2 13 17.5 mg 21 172.3-173.7 3.6 2 4 3.95 mg 602 Grade based on +0.5mm diamonds measured in at least one dimension. Average grade is calculated from weighted sample intervals.-0- The third hole in the evaluation drilling program, Hole 43, is located approximately 110m northwest of Hole 42. This hole appears to be in the main pipe. Provisional logging of the core from Hole 43 shows an intersection of crater facies between 71m and 199m and then entering kimberlite diatreme. Subject to drilling conditions, it has been decided to push this hole to 450m as opposed to the planned 300m. The fourth hole, Hole 49, sited 160m west of Hole 42, entered the crater facies at 74m and is currently at a depth of 151m. The company also announces that it has agreed with Global Diamond Resources Inc. to extend the date of signing the definitive agreement on the acquisition of Global Diamonds (SA) Pty Ltd. for a period of up to four weeks in order to allow the company to complete its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . -0- ON BEHALF OF THE BOARD Franco Boulle, Chairman -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy and accuracy of this release. CONTACT: Archangel archangel, in religion archangel (ärk`ānjəl), chief angel. They are four to seven in number. Sometimes specific functions are ascribed to them. The four best known in Christian tradition are Michael, Gabriel, Raphael, and Uriel. Diamond Corp. Bill Trenaman, 604/687-4452, (Fax) 604/685-9317 |
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