Cumberland Provides Update on Meliadine West Gold Project.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- CUMBERLAND RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (AMEX AMEX See: American Stock Exchange :CLG CLG College CLG Ceiling CLG Collagenase CLG Cumann Lúthchleas Gael (Club of the Gaelic Athletic Association) CLG Community Liaison Group CLG Calling Line CLG Change to Lower Grade (civilian personnel) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CLG) reports that it has received a project update and final drill results from the 2004 exploration program at the Meliadine West gold project located 25 kilometres north of the Hamlet of Rankin Inlet, Nunavut Rankin Inlet (Inuktitut: Kangiqiniq; Inuktitut syllabics: ᑲᖏᕿᓂᖅ or Kangirliniq ᑲᖏᖅᖠᓂᖅ, meaning deep bay/inlet) is an Inuit hamlet in Nunavut, Canada. Territory. Cumberland holds a 22% (carried to production) interest in the Meliadine West project. Comaplex Minerals Corp. holds, subject to its obligations to Cumberland, the right to perfect a 78% interest in Meliadine West by financing 100% of the exploration and development expenditures to commercial production. Meliadine West Gold Project Primary activities during 2004 at Meliadine West have included ongoing resource evaluation of the Main Tiriganiaq deposit and further exploration of deeper targets (West Tiriganiaq zone) in preparation for feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. . The following results, summary and interpretation have been provided to Cumberland by Comaplex Minerals Corp., Operator of the Meliadine West project(i). Cumberland has not received detailed information related to the 2004 program. Comaplex initiated a 2004 exploration program at Meliadine West in June and completed drilling on the project on September 5, 2004. The surface drill program consisted of 21 holes in 9,297 metres. Of the total, 14 holes were completed on the West Tiriganiaq target, 3 holes on the Main Tiriganiaq deposit, and 4 holes on reconnaissance targets near the Tiriganiaq structure. The Operator has reported that results from the final drill holes in the West Tiriganiaq zone indicate the potential for additional gold resources at depth and along strike of the Main Tiriganiaq deposit. The West Tiriganiaq zone is located 400 metres west of the Main Tiriganiaq deposit at depths between 350 metres and 450 metres vertically below surface (see attached schematic A graphical representation of a system. It often refers to electronic circuits on a printed circuit board or in an integrated circuit (chip). See logic gate and HDL. longitudinal section). Highlights from the final 2004 drill holes in the West Tiriganiaq zone reported by the Operator include: 12.2 g/t gold over 3.1 m at approximately 400 m below surface in hole 04-530A 188.2 g/t over 16.18 m at approximately 475 m below surface in hole 04-531A (uncut) (40.53 g/t of 16.18 m at approximately 475 m below surface in hole 04-531A if cut to 60 g/t) 26.03 g/t over 2.0 m at approximately 475 m below surface in hole 04-531A 9.5 g/t over 3.0 m at approximately 450 m below surface in hole 04-532 20.76 g/t over 6.0 m at approximately 450 m below surface in hole 04-533 34.1 g/t over 2.9 m at approximately 500 m below surface in hole 04-534 Similarities in geology and mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. between the Main Tiriganiaq deposit and West Tiriganiaq suggest the same mineralizing system. A surface exploration program has identified several new gold occurrences requiring follow-up in 2005. Comaplex further states that a re-calculation of resources in the Main Tiriganiaq deposit with subsequent underground exploration of the deposit is the primary focus and that it is committed to moving the Main Tiriganiaq deposit towards feasibility as quickly as possible. About the Meliadine West Joint Venture Comaplex has the right to perfect a 78% interest in the Meliadine West project by financing, via non-recourse loans repayable from production proceeds, all exploration and development costs. In addition, Comaplex must pay Cumberland $500,000 at the end of 2004 and $1.5 million each year thereafter until commercial production is achieved. At production, Comaplex has the right to purchase an additional 2% of the project for $2.0 million. Upon commencement of production, Cumberland will receive 6% of net revenue until payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. of non-recourse loans. About Cumberland Cumberland is a well-financed mineral exploration and development company which holds interests in two undeveloped gold properties in Nunavut Territory, Canada: Meadowbank (100%) and Meliadine West (22% carried to production). Cumberland is completing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on the Company's 100% owned Meadowbank gold project located 70 kilometres north of the Hamlet of Baker Lake, Nunavut Baker Lake or Qamani’tuaq (where the river widens) (2006 Population 1,728) (Inuktitut syllabics:ᖃᒪᓂᑦᑐᐊᖅ), is a hamlet in Nunavut on mainland Canada. Territory. The Meadowbank project is host to the third largest undeveloped gold resource in Canada. In the first quarter of 2004, the Company reported the following resource profile for the Meadowbank project: Meadowbank Project Resources - Q1/2004(ii) --------------------------------------------------------------------- Resource Category Tonnes Grade (g/t) Ounces Gold --------------------------------------------------------------------- Measured and Indicated 21,685,000 4.3 2,998,000 Inferred 5,700,000 4.3 788,000 --------------------------------------------------------------------- CUMBERLAND RESOURCES LTD. Kerry M. Curtis, B.Sc., P.Geo. President and CEO (i) Meliadine West Project Allan Armitage Allan M. Armitage is professor of horticulture at the University of Georgia, Athens, where he teaches, conducts research, and runs the University of Georgia Horticulture Gardens—producing annual guidelines for annuals and perennials suitable for heat and humidity. , Ph.D., P.Geol., is the Chief Geologist for Comaplex Minerals and is the Senior Project Geologist and designated Q.P. for the Meliadine West Project. Dr. Armitage has supervised drill hole planning, implementation and quality control/quality assurance programs at the Meliadine West project for 2004. Drill core analysis is performed on cut, half NQ core with standard fire assay procedures and a gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish (Au0) (1 assay ton 1. A weight of 29.166 + grams used in assaying, for convenience. Since it bears the same relation to the milligram that a ton of 2000 avoirdupois pounds does to the troy ounce, the weight in milligrams of precious metal obtained from an assay ton of ore gives directly the number of ). A second FA-gravimetric analysis (Au1) is completed by the lab, usually 3 per every 20 samples. Repeats (Au2) are also done on all samples greater than 1 g/t gold, with a fourth sample (Au3) taken if there is a greater than 10% variance between Au0, Au1 or Au2. QA/QC QA/QC Quality Assurance/Quality Control programs employ the insertion of internal standards (low to high grade Au) every 20 sample, and low grade standards and blanks in heavily mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones. All assaying is completed by TSL TSL Texas State Library TSL Transport Layer Security TSL Techsideline.com (website) TSL Teen Second Life (website) TSL The Svedberg Laboratory (Uppsala, Sweden) Laboratories Ltd. based in Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. ,
Saskatchewan. TSL completes its own internal QA/QC by inserting a
standard after every 20th analysis.Meterage provided is measured down hole and intersection widths are interpreted to be approximately 85% of true width. (ii) Meadowbank Project Mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity selectivity /se·lec·tiv·i·ty/ (se-lek-tiv´i-te) in pharmacology, the degree to which a dose of a drug produces the desired effect in relation to adverse effects. selectivity 1. , mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat as mineral reserves. There is also no certainty that these inferred resources will be converted to measured and indicated categories through further drilling, or into mineral reserves once economic considerations are applied. The resource estimates prepared by AMEC AMEC African Methodist Episcopal Church AMEC Agent Mediated Electronic Commerce AMEC Arctic Military Environmental Cooperation AMEC Advanced Micro-Fabrication Equipment Inc AMEC Association of Media Evaluation Companies for Cumberland were prepared according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Canadian guidelines of National Instrument (NI) 43-101. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSX) requires Resource Estimates to be reported to be spoken of; to be mentioned, whether favorably or unfavorably. See also: Report according to NI 43-101. The guidelines of NI 43-101 differ from the requirements of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchanges Commission and the resource information reported by United States companies This is a list of companies from the United States:
: . The term "resources" does not equate e·quate v. e·quat·ed, e·quat·ing, e·quates v.tr. 1. To make equal or equivalent. 2. To reduce to a standard or an average; equalize. 3. to "reserve" and normally may not be included in documents filed with the Securities and Exchange Commission. "Resources" are sometimes referred to as "mineralization" or "mineral deposits." Resource estimates (Q1/2004) were prepared in conformance con·for·mance n. Conformity. Noun 1. conformance - correspondence in form or appearance conformity agreement, correspondence - compatibility of observations; "there was no agreement between theory and with the requirements set out in National Instrument 43-101 by AMEC independent qualified persons as defined by NI 43-101. All resource estimates (except for the PDF (Portable Document Format) The de facto standard for document publishing from Adobe. On the Web, there are countless brochures, data sheets, white papers and technical manuals in the PDF format. deposit which is not included in the current feasibility study) have been prepared by AMEC independent qualified persons as defined by NI 43-101 under the direction of Steve Blower, P.Geo. This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements.
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MELIADINE WEST PROJECT - 2004 DIAMOND DRILLING RESULTS
HOLE - ID AREA FROM TO GRADE WIDTH
(m) (m) Au (g/t) (m)
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04-515 West Tiriganiaq 10.58 3.0
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04-517 West Tiriganiaq 11.14 6.83
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04-520 West Tiriganiaq 469.54 475.56 12.98 6.02
Including 473.0 475.56 22.5 2.56
478.6 480.0 6.17 1.4
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04-524 West Tiriganiaq 444.15 445.3 8.47 1.15
485.4 485.9 30.83 0.5
515.5 517.15 28.94 1.65
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04-525 West Tiriganiaq 507.6 508.56 19.48 0.98
512.47 513.47 10.94 1.0
517.87 526.9 10.01 9.03
Including 517.87 520.8 13.02 2.93
524.69 526.9 17.95 2.21
535.32 536.24 21.02 0.92
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04-527 West Tiriganiaq 346.96 348.44 27.54 1.48
352.67 353.67 8.26 1.0
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04-528 West Tiriganiaq NSA
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04-529 West Tiriganiaq 455.08 456.2 17.66 1.12
465.75 473.13 33.92 7.38
482.5 483.5 9.43 1.0
544.0 546.2 8.87 2.2
553.4 554.0 17.49 0.6
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04-530A West Tiriganiaq 358.7 361.8 12.2 3.1
364.1 365.1 7.65 1.0
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04-531A West Tiriganiaq 433.82 450.0 188.2 16.18 (uncut)
40.53 16.18 (cut to 60g/t)
Including 433.82 434.44 22.26
434.44 435.44 62.89
435.44 436.37 52.47
436.37 437.1 4.94
437.1 438.0 55.73
438.0 439.0 69.68
439.0 440.0 14.71
440.0 441.0 127.10
441.0 442.0 12.83
442.0 443.0 36.08
443.0 444.0 189.30
444.0 445.0 121.00
445.0 446.0 3.19
446.0 446.8 77.40
446.8 447.2 37.52
447.2 448.3 1974.00
448.3 448.97 46.60
448.97 450.0 12.07
452.0 454.0 26.03 2.0
Including 453.0 454.0 51.51 1.0
474.39 475.5 8.06 1.11
534.0 537.0 6.31 2.0
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04-532 West Tiriganiaq 494.0 497.0 9.5 3.0
Including 494.0 495.0 25.55 1.0
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04-533 West Tiriganiaq 433.0 439.0 20.76 6.0
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04-534 West Tiriganiaq 425.4 428.3 34.1 2.9
521.0 524.0 10.75 2.0
536.5 539.5 17.1 3.0
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04-535 West Tiriganiaq Hole shut down at 69.0 metres due to drill
set-up problems.
Final hole in the 2004 surface drill
program.
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04-516 Main Tiriganiaq 7.9 1.0
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04-518 Main Tiriganiaq 206.0 206.6 23.9 0.6
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04-526 Main Tiriganiaq 330.0 332.0 40.18 2.0
Including 330.0 331.0 79.22 1.0
335.8 339.8 7.01 4.0
Including 335.8 336.95 18.55 1.15
351.8 353.8 8.14 2.0
358.45 365.45 10.8 7.0
Including 359.45 360.45 43.52 1.0
375.53 376.05 482.4 0.52
379.1 380.0 12.83 0.9
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04-519 Reconnaissance NSA
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04-521 Reconnaissance 115.9 116.4 12.1 0.5
180.8 181.3 26.95 0.5
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04-522 Reconnaissance 9.0 12.0 5.09 3.0
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04-523 Reconnaissance NSA
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Source: Comaplex Minerals Corporation
NOTE: To view the schematic longitudinal section please visit CNMatthews' website at http://www2.cdn-news.com/database/fax/2000/clg0920.pdf |
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