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Snowfield Development Corp. (Snowfield) has received from Overburden Drilling Management Ltd. (ODM) of Nepean, Ontario, partial results from a till sampling program undertaken on Snowfield's Ticho Diamond Project, located approximately 50 km south east of Yellowknife, Northwest Territories. The samples reported herein were taken from the Aspen Lake and Sipper Lake locales 750 m to the north and 1.5 km to the northeast, respectively of the Mud Lake kimberlite discovery.
Results from the first 28 till samples from the Aspen Lake and Sipper Lake areas appear to indicate the presence of at least two more kimberlite indicator mineral (KIM) trains that are separate and distinct from the Mud Lake kimberlite occurrence and its KIM train. One train appears to originate from the Aspen Lake area and the second from the Sipper Lake area. Further sampling will be required to locate the source of these KIM grains. A total of 388 kimberlite indicator mineral grains were picked from 22 out of the 28 till samples, 200 of which are pyrope garnets. In excess of 50% of these kimberlitic grains exhibited partial alteration mantles. In the case of a pyrope grain this is called a "kelyphitic rim" or coating on the grain. Effectively, it means that the grain has not traveled far from the source, since this coating is still visible on the grain. Samples down ice from all three lakes show partial alteration mantles. The identification by ODM of partial alteration mantles (kelyphitic rims on the pyrope garnets and perovskite on the ilmenites) on many of the grains from Aspen Lake and Sipper Lake is very significant, as it indicates that the source of these grains is probably nearby.
The Aspen Lake area is the more promising of the two trains. The presence of magnetic targets under a lake and pond (informally named Aspen Lake and Bull's Eye Pond) approximately 200 to 300 meters "up-ice" from the highest count sample sites is encouraging. Bull's Eye Pond has a distinct "bulls-eye" magnetic anomaly of approximately 20 nT. Results from a further 48 till samples taken in the general area are expected shortly. Kimberlite indicator mineral grains will be sent to R.L.Barnett Geological Consulting Ltd, of London, Ontario, for micro-probe analysis
On February 26, 2004, the Mackenzie Valley Environmental Impact Review Board recommended that Snowfield be issued a five-year land use permit enabling the Company to undertake its ongoing exploration programs on its Ticho Diamond Project. Snowfield continues to await the issuance of a land use permit and is of the understanding that the permit issuance process is nearing completion. Snowfield expects to receive the necessary land use permit shortly
Following issuance of the land use permit, Snowfield plans to immediately undertake a 20-hole diamond drill program to delineate the Mud Lake kimberlite structure. This will be followed by a 500 tonne bulk sample of the kimberlite to test for the presence of diamonds and if present to establish a preliminary diamond grade Concurrently, Snowfield will commence exploration on the potential kimberlitic structures in the Aspen/Sipper Lake areas as identified by the aforementioned till sampling program.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS HEREOF.