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MORE GEM-QUALITY DIAMONDS FOUND IN SUDBURY CONTACT SAMPLES

 MORE GEM-QUALITY DIAMONDS FOUND IN SUDBURY CONTACT SAMPLES
 TORONTO, June 1 /PRNewswire/ -- Sudbury Contact Mines Limited, part of the Agnico-Eagle group, has found six more micro-diamonds in core samples tested from northeast Ontario.
 Two of the six are gem-quality diamonds found in the sample from the third hole drilled on Sudbury Contact's Diamond Lake Project, just east of Kirkland Lake, Ontario.
 "I'm getting more excited, even though the findings are preliminary," says Paul Penna, president of Toronto-based Sudbury Contact.
 "In commercial diamond deposits, 25 percent of the stones are gem quality. In this tiny sampling from shallow ground, we are already at 43 percent gem quality. Of the 14 diamonds in the samples from the three drill holes, six are gem quality," Penna says.
 The two holes were drilled in December, 1991, intersecting kimberlite at depths of 250 and 350 meters. Drilling resumes this week on eight promising reconnaissance targets in the immediate area of the discovery. Holes will be drilled to an average depth of 150 meters by mid-July.
 "We are also launching airborne electro-magnetic surveys and ground geophysics studies over at least 10 townships in the Larder Lake area," Penna says. This exploration phase over 41,360 acres (16,738 hectares) stretching almost to the Quebec border, will be completed by early September.
 "The company hopes to have further drilling results before Sudbury Contact's June 19 annual shareholders meeting in Toronto," Penna says. The annual meeting of Agnico-Eagle Mines Limited, begins at 9:30 a.m., followed by Mentor Exploration and Development Co. Limited and Sudbury Contact, in The Ball Room of the Royal York Hotel.
 -0- 6/1/92
 /CONTACT: Paul Penna, president of Sudbury Contact Mines, 416-947-1212; Paul Goldstein of Paul Goldstein Public Relations, 416-781-9498, for Sudbury Contact Mines Limited/ CO: Sudbury Contact Mines Limited ST: Ontario IN: MNG SU:


SH -- NY041 -- 5635 06/01/92 11:10 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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