News Release: March 3rd, 2003
Till sampling drill
program underway at the MacKay Lake Diamond Project
ATW Resources Ltd. has mobilized a sonic drill
system and geological crew to start a till sampling program on
its Mackay Lake diamond property, in the Northwest Territories
of Canada. Drilling will be through the ice on Mackay lake, and
the purpose of this program is to seek the source of a 20 kilometre
long indicator mineral train in glacial till that was traced
easterly and up ice to this part of the property. Besides olivines,
orthopyroxenes and clinopyroxenes, various samples show the indicator
mineral assemblage to contain 16% to 20% G10 garnets with moderate-Cr203
well represented. This train was cut off to the east by a row
of blank holes. The next fence of holes is west and down ice
direction 5 kilometres and holes in this line contain the type
of indicator minerals just described. The kimberlite source is
therefore believed to be in this five kilometre by 0.5 kilometre
area, and should be diamondiferous.
This year's effort will be aimed at tightening
up line spacing sufficiently to locate the source kimberlite.
One hundred holes have been budgeted for, to be followed by ground
geophysics and diamond drilling if time and ice conditions permit.
The ATW Project is between and roughly equidistant
from the Diavik and Snap Lake diamond deposits. The Mackay Lake
project is a joint venture of ATW Resources Ltd. (75%), Aberex
Minerals Ltd.(15%), and SouthernEra Resources Ltd. (10%). ATW
itself is owned by Almaden Minerals Ltd. (40%) Troymin Resources
Ltd. (20%), and Williams Creek Explorations Ltd. (40%).
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.
|
