Snowfield Development Corp.: Update
27 Fevereiro 2008 - 8:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("Snowfield" and the "Company") is
pleased to update its shareholders on the progress at Snowfield's
Ticho Diamond Project, located on Great Slave Lake, 55 km South
East of Yellowknife, NWT.
Lone Peak Drilling of Kimberley, B.C. has been contracted by
Snowfield to supply a Christensen CS1000P4 core drill and drilling
crews to operate on a 24/7 basis. The drill arrived on the Ticho
Project this past weekend and successfully completed its first
shift on Monday, February 25, 2008. The first target being
investigated is located up ice from an elevated indicator mineral
train in an area called Aspen Swamp, West of Sipper Lake. Snowfield
is pleased to be associated with Lone Peak Drilling who have been
providing drilling services to the exploration industry for over 20
years.
Snowfield now has two drilling rigs and crews operating 24/7
with a third rig on standby. It is anticipated that this drilling
program will continue for the balance of the 2008 winter drilling
season in pursuit of additional kimberlites.
DIAMOND RECOVERY
As previously announced, Snowfield is currently awaiting results
of diamond recovery from the concentrate of an initial 100 tonnes
of kimberlite. The concentrate has been divided into two batches
with 1041 kilograms being processed by the Saskatchewan Research
Council Lab (SRC) and 519 kilograms being processed at DeBeers
Johannesburg, South Africa diamond recovery facility. Snowfield has
been informed that their Qualified Person, as defined by NP43-101,
has arrived at the SRC Lab in Saskatoon, Saskatchewan to supervise
diamond recovery and counts. The diamond recovery process is
expected to take approximately six days.
On behalf of the Board of Directors,
Snowfield Development Corp.
Robert T. Paterson, President and Director
Shares Issued: 86,401,369
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents
hereof.
Contacts: Snowfield Development Corp. Robert T. Paterson
President and Director (604) 681-5720 or Toll Free: 1-800-859-6463
(604) 681-6937 (FAX) Email: communications@snowfield.com Website:
www.snowfield.com
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