Forest Gate Discovers New Diamond Target

September 17, 2003 – Montreal, Quebec – Forest Gate Resources Inc. (FGT-V) reports that it has discovered a new magnetic anomaly possibly indicative of a kimberlite body straddling the border of its East Side property in Fort a la Corne, Saskatchewan and extending on to the adjacent property held by Shore Gold Inc. The location is less than 3 miles north of Shore’s Star kimberlite and under 2 miles east of the Cameco/De Beers/Kensington massive 140/141 kimberlite body.

The new southern anomaly was identified by re-processing digital aeromagnetic data from the mid-1990s, and was tested further in August with a ground magnetic survey and gravity survey. The ground magnetic survey revealed that the new southern anomaly appears to have a broader magnetic signature than the Dizzy kimberlite. The corresponding gravity signatures are also broader and stronger than the Dizzy signature, reports Robertshaw Geophysics and Newson Management and Consulting Ltd. both of Saskatoon, Saskatchewan.

Robertshaw writes: “Modeling suggests that the overall size of this feature, if caused by a kimberlite body, could be as large as 600 metres north-south by 400 metres east-west, approximately 19 hectare in area.”

The body appears to be up to about 100 metres thick and is located some 120 metres from surface. There are flanking portions of the anomaly, which are less magnetic but contribute strongly to its gravity signature.

Gravity and ground mag surveys over the Dizzy kimberlite suggest that the kimberlite may be as much as 100 m thick, although drilling to date has only sampled the top 23 metres. Modeling indicates that the Dizzy kimberlite footprint is probably around 250 metres in diameter (about 5 hectares in area), consisting of both magnetic and non-magnetic kimberlite.

“Within a couple days we should have all of the survey data up on our website and readers are encouraged to look at it.” said Michael Judson, Forest Gate’s president.