News Release: December 18th, 2003
Geophysical Survey
underway at the ATW Diamond Project (Lac de Gras), NWT, Canada
ATW Resources Ltd. (ATW) has
contracted Aurora Geosciences of Yellowknife, NWT to commence
a ground magnetics and electromagnetics geophysical survey on
the company's MacKay Lake project in the Northwest Territories
of Canada. The survey is focussed on a 20 kilometer long kimberlitic
indicator mineral train in glacial till that has been the focus
of work over the past several years by ATW. Past interpretation
of indicator mineral chemistry of this train suggests that the
source is a diamondiferous kimberlite. A seventy seven hole overburden
drill program carried out earlier in 2003 outlined a 1 by 1 kilometer
area where the kimberlitic source is interpreted to be located.
ATW has recently received
new data on the indicator minerals recovered in the last phase
of drilling. This was an abrasion study of 289 grains of peridotitic
garnets from 24 samples and was carried out by Maja Kiridzija,
M.Sc., from KIM Dynamics. Most importantly the study suggested
that there may be more than one source to the indicator mineral
train. The study also confirmed the proximal distance of the
source kimberlites, suggesting that the sources may be located
less than a few hundred meters from the samples sites. This interpretation
was based on the well preserved kelyphitic rims and patches of
kimberlitic material on the grain surfaces, unabraded resorption
textures and sharp fractured edges on the examined peridotitic
garnets.
The present geophysical program
is focussed on the areas considered likely to be the source of
the kimberlitic bodies. This data will be reviewed prior to planning
a diamond drill program to test the areas for the source kimberlite
bodies in 2004. Wojtek Jakubowski B.Sc., P.Geo. is the qualified
person on the ATW project, under the definition of National Instrument
43-101.
The ATW project is located
roughly equidistant between the Diavik and Snap Lake diamond
deposits. Almaden Minerals Ltd. has a 40% interest in ATW Resources
Ltd., which has a 75% interest in the ATW project. The remaining
25% interest in the property is held by Aber Diamond Corporation
and SouthernEra Resources Limited., which hold a 15% and a 10%
working interest respectively.
ON BEHALF OF THE BOARD
OF DIRECTORS
Morgan Poliquin
The Toronto Stock Exchange
has not reviewed nor accepted responsibility for the adequacy
or accuracy of the contents of this news release which has been
prepared by management. Statements contained in this news release
that are not historical facts are forward looking statements
as that term is defined in the private securities litigation
reform act of 1995. Such forward -looking statements are subject
to risks and uncertainties which could cause actual results to
differ materially from estimated results. Such risks and uncertainties
are detailed in the Company's filing with the Securities and
Exchange Commission.
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