Post by rwctrader2004 on Aug 14, 2004 19:49:35 GMT -5
CMKM Diamonds, Inc. Announces Update on Carolyn Pipe and Targets Selected for Drilling on Green Lake
LAS VEGAS, May 27, 2004 (BUSINESS WIRE) -- CMKM Diamonds, Inc. (Pink Sheets: CMKX) is pleased to announce that the Company has completed the first phase of drilling of the "Carolyn Pipe" in the Fort a la Corne, Saskatchewan area. Five holes were drilled, of which four intersected kimberlite.
Drill hole #1 intersected 428 feet of kimberlite. Drill hole #2, north of hole #1, intersected about 246 feet of kimberlite. Drill hole #3, east of hole #1, did not intersect any kimberlite. Drill hole #4, west of hole #1, intersected 206 feet of kimberlite. Drill hole #5, north of #4, hole approx. 226 feet of kimberlite, although there is a 15 foot interval of mudstone in the kimberlite, which may be a layer of sediment laid between two episodes of kimberlitic volcanism. Thinner layers of mudstone in the kimberlite in other holes may also be either blocks or layers of sediment.
The kimberlite intervals from holes #1 and #2 have been split and half of the core has been sent to an independent laboratory for microdiamond analysis by total dissolution. The results are expected soon and further work on the "Carolyn Pipe" will depend on those results.
The Company would also like to announce an update on the Green Lake claims, which are located in the province of Saskatchewan. The core drilling at the Green Lake claims has been delayed and will not commence, at this time, because of the possible difficulties of drilling the target through the ice. The Green Lake claims were targeted for core drilling prior to the kimberlite find, at the "Carolyn Pipe", but further examination of the drill location indicated swift currents below the surface of the ice which may have caused considerable damage to the drill equipment. It had been determined that drilling other priority targets would be in the best interest for the drilling program, while further research to achieve a successful core drilling for this target can be attained.
Goldak Airborne Surveys of Saskatoon, Saskatchewan, Canada has been contracted, on behalf of CMKM Diamonds, Inc., to perform an airborne gradient survey of approximately 53,000 line kilometers. The survey encompasses the central Fort a la Corne kimberlite cluster and covers the surrounding mineral claims owned by the Company. All required payments, with respect to the contract, have been met and the operation is proceeding, unimpeded. The Goldak Tri-Maxial gradiometer system is able to sharply define and reject cultural anomalies. This type of survey also has the ability to detect non-magnetic kimberlites, and it is believed that some non-magnetic kimberlites may exist in the area. The survey operations, started in early April, and now at the end of May, are over 90% complete. The aerial survey is expected to be finished, flying within the next week and then final data processing will begin. When the data processing is complete, the data will be delivered to the Company geologist for interpretation and selection for follow-up ground surveys to determine drill targets.
There is no guarantee that further exploration or drilling will produce any economic benefit to the Company or the shareholders of the Company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.
SOURCE: CMKM Diamonds, Inc.
LAS VEGAS, May 27, 2004 (BUSINESS WIRE) -- CMKM Diamonds, Inc. (Pink Sheets: CMKX) is pleased to announce that the Company has completed the first phase of drilling of the "Carolyn Pipe" in the Fort a la Corne, Saskatchewan area. Five holes were drilled, of which four intersected kimberlite.
Drill hole #1 intersected 428 feet of kimberlite. Drill hole #2, north of hole #1, intersected about 246 feet of kimberlite. Drill hole #3, east of hole #1, did not intersect any kimberlite. Drill hole #4, west of hole #1, intersected 206 feet of kimberlite. Drill hole #5, north of #4, hole approx. 226 feet of kimberlite, although there is a 15 foot interval of mudstone in the kimberlite, which may be a layer of sediment laid between two episodes of kimberlitic volcanism. Thinner layers of mudstone in the kimberlite in other holes may also be either blocks or layers of sediment.
The kimberlite intervals from holes #1 and #2 have been split and half of the core has been sent to an independent laboratory for microdiamond analysis by total dissolution. The results are expected soon and further work on the "Carolyn Pipe" will depend on those results.
The Company would also like to announce an update on the Green Lake claims, which are located in the province of Saskatchewan. The core drilling at the Green Lake claims has been delayed and will not commence, at this time, because of the possible difficulties of drilling the target through the ice. The Green Lake claims were targeted for core drilling prior to the kimberlite find, at the "Carolyn Pipe", but further examination of the drill location indicated swift currents below the surface of the ice which may have caused considerable damage to the drill equipment. It had been determined that drilling other priority targets would be in the best interest for the drilling program, while further research to achieve a successful core drilling for this target can be attained.
Goldak Airborne Surveys of Saskatoon, Saskatchewan, Canada has been contracted, on behalf of CMKM Diamonds, Inc., to perform an airborne gradient survey of approximately 53,000 line kilometers. The survey encompasses the central Fort a la Corne kimberlite cluster and covers the surrounding mineral claims owned by the Company. All required payments, with respect to the contract, have been met and the operation is proceeding, unimpeded. The Goldak Tri-Maxial gradiometer system is able to sharply define and reject cultural anomalies. This type of survey also has the ability to detect non-magnetic kimberlites, and it is believed that some non-magnetic kimberlites may exist in the area. The survey operations, started in early April, and now at the end of May, are over 90% complete. The aerial survey is expected to be finished, flying within the next week and then final data processing will begin. When the data processing is complete, the data will be delivered to the Company geologist for interpretation and selection for follow-up ground surveys to determine drill targets.
There is no guarantee that further exploration or drilling will produce any economic benefit to the Company or the shareholders of the Company.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.
SOURCE: CMKM Diamonds, Inc.