Tres-Or Resources Ltd.: Lapointe Pipe, Ontario-Macro-Diamond Processing Underway
Tres-Or Resources Ltd. is pleased to announce that macro-diamond processing has commenced on the large sample extracted from the Lapointe kimberlite pipe, located about 80 km southeast of Timmins, Ontario. More than 50 tonnes of kimberlite was extracted (see February 11, 2008 news release) and has been shipped to the Stornoway Diamond Corporation (Toronto:SWY.TO) (“Stornoway”) DMS processing facility of Microlithics Laboratories Inc. in Thunder Bay, Ontario.
Caustic fusion tests of almost 4 tonnes of the Lapointe Kimberlite have returned results potentially suggestive of a low-grade but possibly coarse size distribution. Such hints of a coarse distribution motivated further examination due to the large size of the body (+21 hectares) and low mining costs in the area. The primary goal of the 50 tonne test is to recover macro-diamonds to verify the coarse size distribution.
Stornoway has agreed to process Tres-Or’s 50+ tonne sample from its Lapointe pipe at Stornoway’s DMS facility, terms of which have been agreed by the parties. As part of the agreement, Tres-Or has granted to Stornoway a first right to acquire an interest in Lapointe project. The first right to acquire an interest in Lapointe will be effective for a period of one year from the date of receipt from Stornoway by Tres-Or of the initial processing results.
Tres-Or holds 100% interest in the Lapointe pipe subject to a 5.0% Net Profits Interest granted to Arctic Star Diamonds Corporation. In circumstances where Tres-Or receives an offer to acquire an interest in Lapointe or Tres-Or determines to sell, assign or transfer any of its interest in Lapointe, then Stornoway shall have a 30 day period in which to accept or match the offer in order to exercise its first right under the agreement.
Harrison Cookenboo, Ph.D., P.Geo., a Qualified Person by the standards of National Instrument 43-101 has reviewed and approved the contents of this news release. Dr. Cookenboo is responsible for the design and implementation of the work programs.
ON BEHALF OF THE BOARD OF DIRECTORS OF TRES-OR RESOURCES LTD.
Laura Lee Duffett, Director
Contacts: Tres-Or Resources Ltd. Laura Lee Duffett, P.Geo. President
Tres-Or Resources Ltd. Brian Biles Corporate (604) 688-8700 Email: email@example.com
Source: Tres-Or Resources Ltd. and Stornoway Diamond Corporation