EX-9.10 12 t12532exv9w10.txt EX-9.10 [LOGO] CALEDONIA MINING CORPORATION NEWS RELEASE STELLARIA KIMBERLITE RETURNS MORE DIAMONDS FRIDAY NOVEMBER 8TH 2002, 9.00 AM Caledonia Mining Corporation ("Caledonia") of Toronto (TSX: CAL and NASDAQ-OTCBB: CALVF). is pleased to report additional diamond results from the Stellaria kimberlite located on the Kikerk Lake property in the Coronation Gulf region of Nunavut. Initial diamond results were reported on July 17, 2002. The Stellaria kimberlite is situated 700 m east of the diamondiferous Potentilla kimberlite. As reported on May 21, 2002, Stellaria was discovered by drilling a single vertical hole into a geophysical anomaly having approximate surface dimensions of 160 m x 50 m. A second hole was drilled in August from a location 40 m northwest of the discovery drill site at an inclination of 60 degrees from horizontal toward the vertical discovery hole. The drill passed through 16 m of glacial overburden and 52 m of dolomitic limestone before intersecting 21 m of hypabyssal kimberlite, giving Stellaria an estimated true width of 13 m. A 110.7 kg sample of kimberlite drill core was processed by caustic dissolution at Ashton's North Vancouver laboratory. Table 1 presents a summary of the diamond results in square mesh sieve format. Table 2 presents the data in Table 1 together with the initial results disclosed on July 17. These data are not sufficient to infer an accurate diamond grade for this kimberlite. TABLE 1 - NOVEMBER 8 DIAMOND RESULTS
NUMBERS OF DIAMONDS ACCORDING TO SIEVE SIZE FRACTION (MM) SAMPLE ------------------------------------------------------------------------- WEIGHT +0.100 +0.150 +0.212 +0.300 +0.425 +0.600 +0.850 +1.180 TOTAL (KG) -0.150 0.212 -0.300 -0.425 0.600 -0.850 -1.180 -1.700 DIAMONDS ----------- ------ ------ ------ ------ ------ ------ ------ ------ -------- 110.7 kg 17 17 19 7 3 3 0 1 67 (Note 1)
Note 1: This diamond measures 2.3 x 1.4 x 0.9 mm. TABLE 2 - SUMMARY OF DIAMOND RESULTS FOR NOVEMBER 8, 2002 AND JULY 17, 2002
NUMBERS OF DIAMONDS ------------------------------------------------------ TOTAL DIAMONDS SAMPLE > or =0.1 MM > or =0.5 MM < or =0.5 MM > or =1.0 MM WEIGHT (IN TWO (IN ONE (IN TWO (IN TWO DATE REPORTED (KG) DIMENSIONS) DIMENSION) DIMENSIONS) DIMENSIONS) ------------- ---- ----------- ---------- ----------- ----------- NOV. 8, 2002 110.7 67 22 10 1 July 17, 2002 105.4 79 13 1 0 ----- --- -- -- --- TOTAL 216.1 146 35 11 1 ===== === == == ===
.../2 - 2 - The discovery of two diamondiferous kimberlites on the Kikerk Lake property confirms the need for further work on the property. Analysis of the 269 heavy mineral samples collected from the Kikerk Lake property in 2002 is currently underway. Once these results become available, the scope and nature of the 2003 winter program will be determined. Exploration on the Kikerk Lake property is governed by an agreement among Caledonia Mining Corporation, Ashton Mining of Canada ("Ashton") and Northern Empire Minerals Ltd. ("Northern Empire"). The current respective interests of the parties are Ashton 52.5 percent, Caledonia 17.5 percent and Northern Empire 30 percent. Ashton has the right to increase its interest to 59.5 percent by carrying Caledonia until the completion of a feasibility study. Ashton is the operator of the program. FOR FURTHER INFORMATION PLEASE CONTACT CALEDONIA MINING CORPORATION: S. E. HAYDEN JAMES JOHNSTONE CHRIS HARVEY Chairman, President and CEO V-P Operations and COO Technical Director South Africa Canada Canada Tel: (011-27-11) 447-2499 Tel: (1-905) 607-7543 Tel: (1-905) 607-7543 Fax: (011-27-11) 447-2554 Fax: (1-905) 607-9806 Fax: (1-905) 607-9806
FURTHER INFORMATION REGARDING CALEDONIA'S EXPLORATION ACTIVITIES AND OPERATIONS ALONG WITH ITS LATEST FINANCIALS MAY BE FOUND ON THE CORPORATION'S WEBSITE HTTP:/WWW.CALEDONIAMINING.COM