News
Next
Snowfield Development Corp. ("Snowfield" and the "Company") announces the following:
SIPPER LAKE
The first hole of an ongoing drill program designed to identify a kimberlite body in the vicinity of Sipper Lake has now been completed and logged. The hole was drilled through the ice on Sipper Lake at an angle of -60 in a northeast direction. Sipper Lake has an average water depth of two to four meters, however the hole did not reach bedrock until a depth of 37 meters, which was unusual. The Company finds the presence of deep overburden in Sipper Lake to be encouraging.
The hole ended at 154 meters. Upon logging the core it was found to have been composed of diabase from the top to the end of the hole. The diabase dyke appears to be dipping to the northeast. It now seems that this first hole may be chasing this diabase dip down. The Mud Lake diamondiferous kimberlite, discovered by Snowfield approximately one kilometer to the south east of Sipper Lake, is overlain by a diabase sill in most kimberlite intersections.
Snowfield has received further lab analyses from till samples taken to follow a very strong kimberlite indicator mineral (KIM) train in an up-ice direction. These analyses suggest Sipper Lake as the probable source of this KIM train.
Drilling at Sipper Lake will resume this week with the next hole to be drilled in scissors fashion in the opposite direction of the first hole. This second hole will test one or both contacts of this near vertical diabase for potential parallel kimberlite structures.
MUD LAKE BULK SAMPLE
Management has been informed by the contractor hired to drill and blast the access ramp through the granite cap covering the kimberlite sill that they expect to have completed their third and final blast this week. Snowfield's crew has been removing the previously blasted rubble as preparation for this third blast was being carried out. Some pictures of this process are available for viewing on the Company's web site at www.snowfield.com
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.