Shear Minerals Ltd.

Shear Minerals Ltd.

March 08, 2010 10:15 ET

Shear Reports Overall Diamond Recovery of 0.862 cpt From Notch Bulk Sample

EDMONTON, ALBERTA--(Marketwire - March 8, 2010) - Shear Minerals Ltd. (TSX VENTURE:SRM) and Stornoway Diamond Corporation (SWY:TSX) today announced that processing of the mini bulk sample from the Notch kimberlite at the Churchill Diamond Project in Nunavut is complete with an overall diamond recovery of 0.862 carats per tonne (cpt). A total of 129 diamonds greater than 1.18 mm were recovered from 17.26 dry tonnes of Notch kimberlite. The five largest recovered stones weigh 0.92, 0.81, 0.77, 0.63, 0.63 carats.

"We are very pleased with the substantial increase in +1.18mm diamond grade of the Notch kimberlite in comparison to previous results and the presence of larger diamonds," says Shear President and CEO Pamela Strand. "Notch is the second kimberlite to be minibulk sampled and return potentially economic grades at Churchill. This 14.87 carat parcel provides us with a more representative sample of the Notch diamond population that will be examined to determine the next steps in the continued evaluation of the Churchill Diamond Project."

Today's diamond results are from two separate surface samples collected by hand trenching along the Notch kimberlite dyke in October 2008. Sample grades are based on diamonds recovered on a 1.18mm square mesh sieve size or larger. A smaller 3.9 tonne sample (February 11, 2007) returned a +0.85mm sample grade of 0.69 cpt, the +1.18mm sample grade for this 3.9t sample is 0.51cpt. The Notch kimberlite is a 1.75m wide vertical kimberlite dyke that trends for more than 3 km based on geophysical interpretation (see February 11, 2007 news release). Complete diamond recoveries were as follows:

Sample Number Sample Weight Dry (Tonnes) Diamond Recovery carats per Tonne (+1.18mm) Weight of Diamonds Recovered Carats (+0.85mm) Number of Stones Recovered (+1.18mm)
Notch Bulk Sample 17.26 0.862 14.87 129
Kimberlite Sample Weight (dry - kg) 1.18mm Sieve 1.70mm Sieve 2.36 mm Sieve 3.35mm Sieve 4.75 mm Sieve 6.70mm Sieve Total Diamond Count
Notch Bulk Sample Total 17260 67 36 18 8 0 0 129

1 The five largest diamonds weigh 0.92 ct, 0.81 ct, 0.77 ct, 0.63 ct and 0.63ct

Samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC") and run through their 5 tonne per hour Dense Media Separation ("DMS") Plant using a 0.85mm cutoff. A heavy mineral concentrate was generated and then passed through a 2-stage X-ray sorter with a grease table audit of the X-ray rejects. Resulting concentrates were hand sorted and weighed in a secure glove box facility. The recovered diamonds will be described, categorized and assessed for any breakage. For photographs of the diamonds, please visit An audit of the X-ray and grease table rejects is currently underway using caustic fusion.

Till Sample Result Update

Results have been received for a total of 150 priority till samples that were processed at Mineral Services Canada. These samples targeted the heads of previously identified indicator mineral trains to further definethe source area. Of the 150 samples, 149 returned kimberlite indicator minerals. The highest count sample was 1,069 kimberlite indicator minerals of which 960 are pyrope garnets in sample 08C460 (all counts are normalized). A total of 41 samples returned pyrope counts in excess of 15 pyrope garnets. These sample results have assisted in further refining the heads of six un-sourced indicator mineral trains in both the Sedna and Josephine River Corridors. Microprobe results are pending.

The Churchill Diamond Project is owned 58.14% by Shear and 41.86% by Stornoway and is comprised of the diamond rights to more than 800,000 acres located near the communities of Rankin Inlet and Chesterfield Inlet in the Kivalliq region of Nunavut. Work is presently focused on continued exploration of new promising indicator mineral trains and geophysical anomalies as well as the evaluation of a system of significantly diamond-bearing, vertically-emplaced kimberlite dykes that have returned sample grades of up to 2.18 carats per tonne. The 2010 field program is under the supervision of Pamela Strand, P. Geol., a Qualified Person under NI 43-101, who has reviewed and approved the contents of this news release.

On behalf of the Board


Pamela Strand, P. Geol., President 

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from either of the Companies' expectations are in Company documents filed from time to time with the TSX or the TSX Venture Exchange and provincial securities regulators, most of which are available at The Companies disclaim any intention or obligation to revise or update such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Shear Minerals Ltd.
    Pamela Strand, P. Geol.
    (780) 435-0045 or 1-866-298-9695