Pure Gold/CaribGold Identify Diamond Potential in South Central Saskatchewan.VANCOUVER, B.C.--(BUSINESS WIRE)--March 5, 1998--Pure Gold Minerals I(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PUG.) Nelson W. Baker, Director of Pure Gold Minerals Inc. and David Bell, President of CaribGold Resources Inc. are pleased to report that since last October the Companies have acquired by staking, a total of 715,000 acres in an area of south central Saskatchewan. The claims were staked to cover a significant concentration of variable kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. indicator minerals consisting predominantly of high chrome pyrope py·rope n. A deep red garnet, Mg3Al2Si3O12, used as a gem. [Middle English pirope, from Old French, from Latin garnets, calcic cal·cic adj. Composed of, containing, derived from, or relating to calcium or lime. calcic of or pertaining to lime or calcium. pyrope-almandine garnets, magnesium almandine al·man·dine also al·man·dite n. A deep violet-red garnet, FeAl2Si3O12, found in metamorphic rocks and used as a gemstone. garnets and chrome diopsides. Three separate clusterings of anomalous concentrations of kimberlite indicator minerals were identified from samples collected in 1991 by the Saskatchewan Geological Survey. Wilf Jones, a diamond expert with thirty years experience with Ashton Mining Australia and Selection Trust and now a consultant to Pure Gold Minerals Inc., concluded that the indicator minerals may be derived from possible local kimberlite clusters. Since staking the claims, the 50-50 joint venture completed a 15,000 line km. high resolution magnetic survey (Sanders Geophysics Ltd.) over the entire property with flight lines spaced at 400 metre intervals. The Companies' geophysical consultants have selected 21 high priority circular magnetic anomalies, some of which appear to be in clusters, that may represent kimberlite bodies. The magnetic anomalies all lie within the high concentration of indicator minerals. Following a detailed compilation of the data obtained, the Companies plan to investigate the 21 magnetic anomalies by helicopter using mag survey, ground geophysics and drilling. The Saskatchewan project is a 50/50 joint venture with CaribGold Resources Inc. (CG:TSE). CONTACT: Pure Gold Minerals Inc. Nelson W. Baker, 604/687-2038 or Carina Carina (kərē`nə) [Lat.,=the keel], southern constellation, representing the keel of the ancient constellation Argo Navis, or Ship of the Argonauts. Carina contains Canopus, the second brightest star in the sky. Bittel, 604/682-1240 Website: http://www.pugres.com |
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