TORONTO, ONTARIO -- (Marketwire) -- 11/19/08 -- Spider Resources Inc. (TSX VENTURE: SPQ)("Spider") along with joint venture partner KWG Resources Inc. (TSX VENTURE: KWG)("KWG") announce the completion of a drilling program on their jointly owned Wawa Diamond project. The 45 square kilometre project straddles the Trans-Canada highway approximately 35 kilometres north of the town of Wawa, Ontario.
In October, 2008, Spider / KWG completed a drill program entailing 4 short, HQ core holes totalling 307 metres. The project was completed under the direct auspices of James Burns, P.Eng. the newly appointed Vice President of Exploration for Spider. The purpose of the recent drilling was to explore to depth the main diamond occurrence that had been mapped and sampled over an area 300 meters by 15 meters (open to north and south) during 2005 and 2006.
These holes were designed to undercut a lamprophyre dyke that hosts numerous diamond bearing xenoliths. This dyke had been previously exposed in 2004 / 2005 by mechanical stripping over a strike length in excess of 300 m. The dyke varies in exposed width from 8 to 22 m, and dips an estimated 45 degrees towards the northeast. Diamonds had been recovered from all but 2 of the 39 surface grab or chip-channel samples collected from the length of the dyke. Diamonds had been previously determined to be preferentially located in talc-actinolite xenoliths. The most diamonds recovered were from a 30.11 kilogram sample of talc-actinolite xenoliths (sample # LAL-04-234) which yielded 1351 diamonds with two dimensions less than 0.5mm, 267 diamonds with two dimensions greater than 0.5mm and less than 1.0mm and 14 diamonds with two dimensions greater than 1.0mm.
The holes were drilled on lines spaced 100 metres apart with an initial inclination of -45 degrees towards the southwest to cut the dyke at approximately 40 metres below surface. Samples were normally 1.0m in length; each sample weighed approximately 10 kilograms.
Details of Drill Holes
Hole #1 was drilled at -45 degrees SW, and intersected the dyke between 61.2 and 68.4 metres. Xenolith content varied from 1 to 10 xenoliths per sample. The maximum dimension of the xenoliths (as cut in the core) was less than 5 cm. however one xenolith in sample #106 measured 15 cm.
Hole #2, also drilled at -45 degrees SW, cut a 5.25 metre interval of xenolith bearing dyke between 64.1 and 69.35m. Xenolith content varied from 3 to 9 per sample, and the maximum dimension of xenoliths was 6 cm.
Hole #3, drilled at -45 degrees SW, intersected two lamprophyre dykes - the main dyke from 37.95 to 47.60m and the second 69.4 to 72.25m. Xenolith content varied from 1 to 13 per sample, and xenolith size, although generally less than 6cm, varied up to 15 cm.
Hole #4, drilled at -75 degrees SW, undercut Hole #3.
