EXPLORATION UPDATE -- CHINCHAGA DIAMOND PROJECT, ALBERTA
April 6, 1998 - Marum Resources Inc. has received from CaribGold
Resources Inc. (TSE:CG) an interim report from APEX Geoscience Ltd.
(APEX) on the Marum/CaribGold Chinchaga joint venture.
During the period from March 5 to March 22, a total of eleven auger
drill holes were completed by APEX at six separate targets within the
275,000 acre Marum/CaribGold joint venture project area.
The intent of the drilling was to test overburden thickness and to
obtain samples from basal till and bedrock in the vicinity of
magnetic and/or physiographic anomalies defined by airborne and
ground magnetic surveys. In each of the eleven holes (drill hole
identifiers 8CH01 to 8CH11), both basal till and top of bedrock was
cored using a continuous sample tube system which yields a 3-inch
diameter core. Drill hole depths ranged from 12.3m to 40.5m, with
bedrock intersected in each of the eleven drill holes. The maximum
depth of overburden encountered was 9.4m.
Interestingly, an impenetrable bedrock unit was encountered in two
separate holes at Target 7. Attempts to penetrate the bedrock unit
caused damage to the light drill. The program was terminated since
repairs to the drill could not be completed before spring breakup
related road closures.
Preliminary observations from drilling indicate that Cretaceous-age
shales, sands and mudstones were intersected. The stratigraphic units
tested are likely similar in age and character to the succession of
sediments that immediately surround or are intercalated with
pyroclastic aprons associated with the Buffalo Head Hills
kimberlites. At least three targets over an area of about 15 km in
length yielded multiple thick pyroclastic ash horizons, up to 2.5m
thick, which exhibit varying degrees of alteration. In addition to
the pyroclastic horizons, several partly consolidated green sand
units were intersected at each of the three targets that yielded the
thick pyroclastic. The green color of the sands is due, in part, to
the presence of green clay minerals. At this time, prior to analyzing
the core, it is unknown whether any of the pyroclastic horizons or
the green sand units are related to local mafic or kimberlitic
volcanism. Drill holes 8CH09 and 8CH10, which were drilled at Target
7 approximately 10m apart, were terminated at 12.3m and 13.7m,
respectively, due to encountering an impenetrable bedrock unit.
Further exploration is planned to determine the origin and extent of
the pyroclastic horizons, the green sand units and the impenetrable
bedrock unit that was encountered at Target 7.
At present, all of the drill core is in the process of being logged
and sampled by APEX. Selected samples will be sent to the
Saskatchewan Research Council for diamond and diamond indicator
analysis. Results are expected in three to six weeks.
Upon receipt of the preliminary drill results, a high resolution,
200m line spaced, fixed-wing, Spectra Geoscience airborne magnetic
survey was immediately authorized to further define the drilled
targets as well as other targets in nearby clusters. This 7,000-line
km survey is a cooperative effort between Marum, CaribGold Resources
Inc., and Micrex Development Corp (ASE:MIX). The survey area covers
six townships of the Marum/CaribGold joint venture and 5.5 townships
covering a combination of 100% Marum land and Marum/Micrex joint
venture land. The flying portion of the survey is expected to be
finished within a few days.
Additional fieldwork on the Marum/Caribgold joint venture will begin
as soon as the core analysis results are evaluated and the airborne
geophysical survey results have been reviewed. This work will include
sampling, auger drilling and rotary core drilling. Fieldwork,
including possible drilling, on certain 100% Marum lands and a
portion of the Marum/Micrex joint venture which are adjacent to all-
weather roads will begin immediately upon receipt of the airborne
geophysical survey results.
SOURCE: Mr. Richard Boulay, President
Marum Resources Inc.
FOR FURTHER INFORMATION: Mr. Arness Cordick, Director
Tel: (604) 602-1440
Toll Free: (800) 321-8564 or
Calgary Office
Tel: (403) 264-2220
Website: marumresources.com
The information contained herein has neither been approved nor
disapproved by any regulatory or exchange agency |
