Snowfield completes phase I drilling at MudlaSnowfield completes phase I drilling at Mudlake
Snowfield Development Corp SNO
Shares issued 15,590,956 Mar 7 2003 close $ 0.45
Monday March 10 2003 News Release
Mr. Robert Paterson reports
SNOWFIELD IDENTIFIES KIMBERLITE COMPLEX IN THE MUDLAKE AREA DRYBONES AREA, NWT
Snowfield Development has completed its phase I drilling program in the Mudlake area. Kimberlite was intersected in a number of holes. The Mudlake project area is located approx five kilometres southeast of Drybones Bay, NWT. The company can earn an 80-per-cent interest in the property under an option agreement from the prospector, David Smith, of Yellowknife, NWT.
During this most recent drill program, two rigs were used, the larger of the two completed 694 metres of NQ drilling in eight holes designated Snow 1 to Snow 8. Core recovery was good and kimberlite was intersected eight times in six of these holes. The kimberlite intersections varied from approximately two metres to 10 metres. The smaller rig completed 56 metres of AX drilling in two holes designated Mud 7 and Mud 8. Kimberlite was intersected in both holes. Magnetic susceptibility measurements taken on the core indicate that the kimberlite is distinctly magnetic. Essentially this drilling program has revealed the presence of a flat sill-like kimberlite body. This body has a true width of approximately seven metres and appears to be dipping gently (14 to 15 degrees) to the north. Depth to this body is approximately 26 metres (Snow 5). In boreholes Snow 5 and Snow 7, a second, smaller sill-like body was intersected below the first. The lateral extent of these sills has not yet been established and they are open in all directions. Delineating these parameters will be the main priority of the next drilling program.
Both ground and airborne geophysics (magnetics and electromagnetics) carried out over the project area have identified the existence of a broad low-amplitude magnetic anomaly that may be associated with this flat-lying kimberlite body.
Till sampling results from a previous survey just to the west of the current drilling area revealed a number of very high garnet counts (approximately 100 grains). In one of these samples kimberlite fragments were identified. These very high counts together with the kimberlite fragments suggest that the kimberlite body comes to surface just west of the current drilling area. Further work planned for the Mudlake area will be directed toward locating this possible outcrop.
Core from these holes is currently being logged and samples have been sent for detailed petrography. Approximately eight one-metre representative core samples will be sent to R.L. Barnett Geological Consulting Ltd., London, Ont., for crushing, heavy mineral separation, indicator mineral picking and electron microprobe work. This will establish whether or the not the kimberlite indicator minerals previously identified down ice from Mudlake actually originate from this sill-like body. These previous indicator mineral results can be viewed on the company's Web site. A large number (greater than 7 per cent of all garnets probed) of G-10 garnets were identified from these samples.
Till samples located approximately 600 metres north of the current drilling area also returned high garnet counts. A number of distinct bull's eye magnetic anomalies can be seen in this area. The anomalies are centred on a small lake referred to as Half-Moon Lake. Drilling is planned for the Half-Moon area.
The company has appointed Mike Beauregard of Yellowknife, NWT, as project manager for the Mudlake diamond project. Mr. Beauregard has a BSc in geological engineering. His previous experience includes contract work for CF Minerals and Navigator Exploration Corp.
Snowfield has also retained Aurora Geosciences Ltd. to provide consulting services and independent project overview. Aurora Geosciences Ltd. will provide the services of Garry Vivian, PGeol.
Mr. Vivian, a qualified person under NI 43-101, has reviewed and approved the content of this press release.