Star Diamond Corp T.DIAM

FGT News - diamond grades of 121

[jesk]

Forest Gate Provides Diamond Update on its Portion of the 121 Kimberlite 08:30 EST Wednesday, February 14, 2007 << Shares outstanding: 79 Million SYMBOL & EXCHANGE: FGT-V MONTREAL, Feb. 14 /CNW Telbec/ - Forest Gate Resources Inc. reports that it has reviewed microdiamond results and received modeled macrodiamond grade estimates for its portion of the 121 Kimberlite pipe located on its East Side Property near Prince Albert, Saskatchewan. The 40 hectare 121 Kimberlite pipe spills eastward across Forest Gate's shared boundary with Shore Gold and is located along the eastern flank of the massive Fort a la Corne diamond field. The microdiamond modeling results indicate a potential grade range of 0.16 to 0.30 carats per tonne for a portion of this kimberlite. As part of the process to create a modeled macrodiamond grade estimate, diamond results were reviewed for kimberlite samples from three vertical drill holes (FG05-29, FG06-30 and FG06-31) drilled over a distance of 180 metres on a north-south line across the easternmost portion of the 121 Kimberlite (please see the map at www.forestgate.ca). The drill holes have a diameter ranging from 2 1/2 - 3 inches and intersected between 21.3 - 23.3 metres of kimberlite starting at approximately 140 metres down-hole. Two main varieties of kimberlite were identified in the drill core. Unit A is described as a poorly sorted, fine to coarse-grained, lithic, olivine-rich, crudely to finely-bedded volcaniclastic kimberlite. Unit B is described as a well-sorted, fine-grained, finely-bedded olivine-rich volcaniclastic kimberlite. Unit A ranges in thickness from approximately 10 to 12 metres and Unit B from 9 to 14 metres and are thought to represent true widths. A third minor unit (Unit C) of very fine-grained kimberlite was observed in one of the drill holes (FG05-29). Representative samples of all intersected kimberlite were taken for diamond analysis. The samples were processed at SGS Laboratories located in Lakefield, Ontario by caustic fusion methods with a lower diamond cut-off of 0.105 millimetres. Results are provided in the table below. ------------------------------------------------------------------------- Microdiamond Results Stones per sieve class (microns) ------------------------------------------------------------------------- Hole From To Unit Wt(kg) Carats Stones 105 150 212 300 425 600 850 ------------------------------------------------------------------------- 29 143.4 153.5 A 39.9 0.024 26 8 10 2 2 4 0 0 29 153.5 161.2 B 41.2 0.007 25 13 8 3 1 0 0 0 29 161.2 166.5 C 28.9 0.0001 4 4 0 0 0 0 0 0 30 140.1 144.0 A 21.2 0.002 18 8 6 1 3 0 0 0 30 144.0 149.3 A 31.8 0.037 33 19 4 0 5 0 4 1 30 149.3 163.3 B 71.2 0.001 20 9 7 4 0 0 0 0 31 138.1 141.5 A 15.6 0.004 11 4 1 2 2 2 0 0 31 143.0 148.7 A 22.4 0.001 14 3 8 2 1 0 0 0 31 148.7 150.2 A 7.9 0.003 3 2 0 0 0 0 1 0 31 150.2 159.4 B 46.6 0.013 19 7 6 5 0 0 0 1 ------------------------------------------------------------------------- Total - Unit A 138.8 0.071 105 44 29 7 13 6 5 1 ------------------------------------------------------------------ Total - Unit B 159.0 0.022 64 29 21 12 1 0 0 1 ------------------------------------------------------------------------- NB 1 millimetre equals 1000 microns ------------------------------------------------------------------------- At the request of Forest Gate Resources, Mineral Services Canada Inc. has completed its review of the 121 Kimberlite diamond data and has modeled macrodiamond grades for the two dominant kimberlite units identified. Modeling is based on statistical methods published in 1995 and 1998 by Dr. L Rombouts in which curves are subjectively fitted to diamond size distribution data assuming a lognormal distribution. A total of three curves are fitted in order to assess the uncertainty in the data, and these curves correspond to the lower, middle and upper grade predictions for the material represented by the samples. The grade predictions are for diamonds greater than 0.01 carats in size, with no correction for breakage and loss of smaller diamonds that typically occur during recovery in a bulk sampling or mining plant. The results are provided in the table below. ------------------------------------------------------------------------- Modeling Results Macro grade prediction for diamonds ----------------------------------- greater than 0.01ct ------------------- ------------------------------------------------------------------------- Diamonds Stones (greater per Lower Middle Upper than)212 Model Unit Wt(kg) Carats Stones tonne cpt cpt cpt Microns Fit ------------------------------------------------------------------------- A 138.80 0.07 105 756 0.16 0.22 0.27 32 moderate ------------------------------------------------------------------------- B 159.04 0.01 63 396 0.00 0.00 0.00 13 moderate ------------------------------------------------------------------------- * Note that the numbers presented for unit B excludes an +850 micron outlier stone ------------------------------------------------------------------------- "It's clear that our portion of the 121 pipe contains a coarse-grained kimberlite unit of high interest" stated Steve Roebuck, Forest Gate's Vice President of Exploration. "To find a 10 to 12 metre wide horizon that has a macro grade prediction in the range of 0.16 carat per tonne to 0.27 carat per tonne is very interesting. At 40 hectares it's a good sized pipe with only a few holes drilled into it. Perhaps this information will inspire Shore Gold to take another look at their portion of the 121 Kimberlite pipe." Ralph Newson, P.Eng., P.Geo. and Qualified Person has edited and reviewed the technical information contained in this press release. In other news, the company has granted Jacques Arsenault, Vice President Finance, 500,000 share options exercisable at $0.185. The options vest over a period of 18 months, and are subject to a 4 month hold period. Cautionary Statement Please note that at this early stage of exploration, the modeled macrodiamond grade estimates may differ from what might actually be found as future exploration efforts may reveal. Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and Quebec. The company's shares trade under the symbol FGT on the TSX Venture Exchange. Forward-Looking Statements This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities. The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release. >> For further information: Robert Kramberger, V-P, Investor Relations, Forest Gate Resources Inc., [phone], [e-mail]; www.forestgate.ca; Trevor Burns, President, Tiger Capital Corporation, [phone], [e-mail] © Copyright Canada Newswire