Shore Gold, Rio Tinto to drill 10 holes at Star

Stockwatch Daily - - MINES & METALS - Mr. Ge­orge Read re­ports

SHORE GOLD Inc. and Rio Tinto Ex­plo­ration Canada Inc. (RTEC) have sched­uled an HQ core drilling pro­gram, con­sist­ing of 10 holes and about 2,500 me­tres of drilling, on the Star kim­ber­lite, to com­mence in mid-Oc­to­ber, 2017. This core drilling is re­quired to ac­cu­rately doc­u­ment the in­ter­nal stratig­ra­phy of the Star kim­ber­lite prior to a pro­posed large di­am­e­ter drilling (LDD) mini-bulk sam­pling pro­gram, which is ex­pected to com­mence in 2018. The core drilling pro­gram is be­ing con­ducted by Ge­orge Down­ing Es­tate Drilling Ltd. of Grenville, Que. Shore and RTEC ge­ol­o­gists are re­spon­si­ble for the su­per­vi­sion of the drilling pro­gram and sub­se­quent de­tailed core log­ging. In con­juc­tion with this di­a­mond drill pro­gram geotech­ni­cal in­ves­ti­ga­tions on the over­bur­den are be­ing con­ducted by Pad­dock Drilling of Bran­don, Man., and ConeTech of Rich­mond, B.C. The 10 hole lo­ca­tions that have re­cently been se­lected are in close prox­im­ity (10 to 15 me­tres) to the un­der­ground bulk sam­ples and past 48-inch LDD holes, and in­clude ar­eas of sig­nif­i­cant in­ter­sec­tions (80 to 110 me­tres) of the Early Joli Fou (EJF) kim­ber­lite, the prin­ci­pal eco­nomic unit the in­di­cated re­sources pre­vi­ously es­ti­mated by Shore for the Star kim­ber­lite in De­cem­ber, 2015.

Se­nior vice-pres­i­dent of ex­plo­ration and de­vel­op­ment, Ge­orge Read, states: “This core and geotech­ni­cal drilling pro­gram is an im­por­tant pre­cur­sor to a pro­posed LDD mini-bulk sam­pling pro­gram sched­uled to com­mence in 2018. The se­lected lo­ca­tions of th­ese core holes will act as pi­lot holes for the up­com­ing pro­gram.”

The Star-Orion South di­a­mond project is lo­cated in cen­tral Saskatchewan about 60 kilo­me­tres east of the city of Prince Al­bert. The project is in close prox­im­ity to es­tab­lished in­fra­struc­ture, in­clud­ing paved high­ways and the elec­tri­cal power grid, which pro­vide sig­nif­i­cant ad­van­tages for fu­ture mine de­vel­op­ment. The tech­ni­cal re­port on the re­vised re­source es­ti­mate for the project dated Nov. 9, 2015, pro­vided an up­dated min­eral re­source es­ti­mate for the Star and Orion South kim­ber­lite de­posits: in­di­cated min­eral re­sources of 393 mil­lion tonnes con­tain­ing 55.4 mil­lion carats of di­a­monds at a weighted av­er­age price of $210 (U.S.) per carat. In ad­di­tion to the in­di­cated min­eral re­source es­ti­mate, the Star and Orion South kim­ber­lites in­clude in­ferred re­sources con­tain­ing 11.5 mil­lion carats. Ac­cord­ingly, the min­eral re­serves and eco­nomic as­sess­ment pre­vi­ously dis­closed by Shore for the project should no longer be re­lied upon. Shore has granted RTEC an op­tion to earn up to a 60-per-cent in­ter­est in the Fort a la Corne min­eral prop­er­ties (in­clud­ing the project) on the terms and con­di­tions con­tained in the op­tion agree­ment (see SGF news re­lease dated June 23, 2017). Com­ple­tion of the pro­posed 2018 sam­pling pro­gram (first op­tion) does not en­ti­tle RTEC to an in­ter­est in the Fort a la Corne min­eral prop­er­ties (in­clud­ing the project).

All tech­ni­cal in­for­ma­tion in this press re­lease has been pre­pared un­der the su­per­vi­sion of Ge­orge Read, se­nior vice-pres­i­dent of ex­plo­ration and de­vel­op­ment, pro­fes­sional geo­sci­en­tist in the prov­inces of Saskatchewan and Bri­tish Columbia, and Mark Shimell, project man­ager, pro­fes­sional geo­sci­en­tist in the prov­ince of Saskatchewan, who are the com­pany’s qual­i­fied per­sons un­der the def­i­ni­tion of Na­tional In­stru­ment 43-101.

Shore is a Cana­dian-based cor­po­ra­tion en­gaged in the ac­qui­si­tion, ex­plo­ration and de­vel­op­ment of min­eral prop­er­ties.

Har­vey James Bay, Arnold Ed­ward Hil­lier, Kenneth Earl MacNeill, A Neil McMil­lan, Brian Michael Menell, Stephen Vic­tor Scott

(SGF) Shares: 361,005,822

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