Shore Gold, Rio Tinto to drill 10 holes at Star
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
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