FORT A LA CORNE JOINT VENTURE: TAURUS KIMBERLITE CLUSTER
George H. Read, P. Geo., Senior Vice President Exploration and Development, is pleased to provide the following update on the Taurus Kimberlite Cluster, within the Fort a La Corne Joint Venture (FALC-JV) where Shore is the operator with a 60 percent interest and Newmont Mining Corporation of Canada Limited (Newmont) has 40 percent. The Taurus Cluster lies to the west of the Orion Cluster and includes eight coalescing kimberlites (150, 118, 152, 218, 154, 155 and 156) that result in over 6 kilometres of contiguous kimberlite as compared to the Orion Cluster which includes over 7 kilometres of contiguous kimberlite (a total of 1.2 to 1.4 billion tonnes of kimberlite have been modeled within the Orion Cluster). Taurus Cluster kimberlites have been the targets of substantial drilling (87 holes, 19,302 metres drilled, 8,140 metres kimberlite intersected) by previous operators of the FALC-JV. Fifty holes of archival core samples from these historic drill programs have now been re-logged in detail by Shore geologists and extensive areas of coarse grained kimberlite have been identified in kimberlites K118, K122 and K150 (See map http://www.shoregold.com/taurusmap.html). Detailed analysis of kimberlite grain size data from Star and Orion South has shown a positive relationship between diamond grade, stone size and coarse kimberlite grain size. The coarse kimberlite grain size relates to the presence of kimberlite breccia (KB), which, in the case of Star, not only contains higher diamond grade, but also larger diamonds that result in higher diamond prices, when compared to the pyroclastic kimberlite (PK). Kimberlites K118, K122 and K150 are scheduled for large diameter drilling (LDD) in 2008, due to their significant volumes of coarse kimberlite. Assuming positive diamond results from the 2008 LDD program, additional pattern core drilling will be proposed for 2009 on the Taurus Cluster to develop a detailed geological model for these kimberlites.
Kimberlite mini bulk samples, recovered from LDD, completed by previous FALC-JV operators, have yielded 597 macrodiamonds (greater than 0.85 millimetre) weighing some 57.6 carats and include two stones greater than 0.50 carat. Five individual mini bulk samples (2.99 to 9.32 tonnes) recovered from Kimberlite 122 have yielded grades greater than 20 cpht. The 2001 valuation of a small (17.31 carat) parcel of K122 goods returned a modeled price between US$133 and US$147 per carat (Kensington Resources News Release Oct 11, 2001). Microdiamonds have been recovered from all kimberlites within Taurus Cluster.
The details of archival (pre-2005) macrodiamond recoveries from LDD samples of individual kimberlites within the Taurus Cluster are listed in the table below.
| Taurus Cluster Kimberlite |
Stones (>0.85 mm) |
Carats |
Largest Stone (carats) |
| K122 |
527 |
50.18 |
1.11 |
| K150 |
68 |
7.24 |
0.73 |
| K218 |
2 |
0.18 |
0.10 |
| Total |
597 |
57.60 |
|
Senior Vice President Exploration and Development, George Read, states: “The Taurus Cluster, with more than 6 kilometres of contiguous kimberlite, has the potential to host hundreds of millions of tonnes of kimberlite. The re-logging of archival core form the Taurus Cluster has identified substantial intersections of high interest, coarse grained macrocrystic kimberlite breccia that has the potential to host significant diamond populations, particularly in K122, K118 and K150. Similar kimberlite recovered from the Star Kimberlite has yielded grades as high as 36 cpht in underground bulk samples. Based on the kimberlite volume, five 225 metre holes on each of these three kimberlites were included in the 2008 FALC-JV budget. Recent re-logging of archival core will enable the accurate targeting of high interest, coarse grained kimberlites by the LDD program. Our present understanding of the Taurus Cluster suggests large volumes of diamondiferous kimberlite and recent re-logging of archival core confirms substantial intersections of high interest kimberlite, which will be the target of the 2008 LDD”.
Senior Vice President Exploration and Development, George Read, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, is the Qualified Person responsible for the verification and quality assurance of analytical results. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol “SGF”.
Caution Regarding Forward-Looking Statements
From time to time, Shore makes written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Ontario Securities Act and the United States Private Securities Litigation Reform Act of 1995. Shore may make such statements in this press release, in other filings with Canadian regulators or the United States Securities and Exchange Commission, in reports to shareholders or in other communications. These forward-looking statements include, among others, statements with respect to Shore's objectives for the ensuing year, our medium and long-term goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans contain forward-looking statements.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners; the effects of competition in the markets in which Shore operates; the impact of changes in the laws and regulations regulating mining exploration and development; judicial or regulatory judgments and legal proceedings; operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
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Adam Buchanan, Manager, Investor and Community Relations at (306) 667-3503.
