KWG Resources Inc.

KWG Resources Inc.

February 27, 2007 11:33 ET

KWG Boring Into Good Friday Pipe

MONTREAL, QUEBEC--(CCNMatthews - Feb. 27, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) reports that three diamond drill holes have now been completed in the Good Friday kimberlite pipe. The first hole, 07-GF-01, encountered kimberlite from the 47 meter mark down through 159 meters. The hole was drilled at a dip of 80 degrees oriented N45 degrees at a collar located 10 meters NW of the 2004 discovery hole #04-01 at grid 12+00E & 0+15N. A wedge placed at 57 meters in the hole diverted a second hole, 07-GF-01W, to test the north-east contact of the kimberlite body and recovered almost 100 meters of kimberlite. A third hole, 07-GF-02, was drilled at a dip of 80 degrees oriented N135 degrees at grid 11+77E & 0+25N in order to intersect the NE and SW contacts of the pipe. It recovered 113.5 meters of kimberlite after drilling through a 37.5 meter interval of Paleozoic overburden. A wedge has been set in the hole at the 80 meter level.

The core recovered from this drilling program will be analyzed to determine the geochemistry of the indicator minerals and the characteristics of the diamond population in terms of grade and quality. As observed in the Company's recent technical report, previous sampling has determined that the indicator mineral characteristics of the MacFadyen 1 kimberlite are highly analogous to those of the Victor Pipe. But, prior samples were inadequate relative to the determination of the diamond content in terms of its monetary value and grade. The current program is designed to provide sample recoveries that are sufficient for such an analysis.

Similar series of drill holes are planned for the same purpose at the adjacent MacFadyen 1 and MacFadyen 2 kimberlite pipes, as well as at the two additional geophysically interpreted targets adjoining them, if conditions permit.

Shares issued and outstanding: 165,085,208

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

Contact Information

  • KWG Resources Inc.
    President and CEO
    514-866-6193 (FAX)
    KWG Resources Inc.
    514-866-6001 - Ext. 266
    514-866-6193 (FAX)