ORVADO.. here is the latest news reelease from MINK.. The potential of the company is several fold at today price. I see today it is moving in price and volume. It is a good opportunity to jump on the wagon. The rest is up to you....
Mink International Resources Corp -
Mali diamond project to be drilled
Mink International Resources Corp
MKM
Shares issued 15197877
1997-10-15 close $0.63
Thursday Oct 16 1997
Mr O.L. de la Cuesta reports
Following the recent meeting between Mink and Ashton in Mali, the company has
decided to start a drilling program in the Kenieba diamond project as soon as
possible. Mink International's own drill and support heavy equipment will be used
on the job. The various equipment will be transported, mostly by rail, from the
present location in the Niaouleni gold project to Kenieba. The company's drill
foreman has completed inspecting the project site and is now making the
necessary arrangements for mobilization.
PROJECT BACKGROUND
The 36,000 sq km Kenieba diamond concession is a joint venture between Mink
International (49%) and Ashton West Africa Pty Ltd, subsidiary of Ashton Mining
Limited of Australia (51%).
To date, the concession has 25 known kimberlitic bodies, eight of which are
diamond bearing. Several exceptionally large gem-quality alluvial diamonds,
ranging from 15 to 232 carats, were also discovered in the concession. The most
recent large gemstone discovery is the 70.62 carats reported in Stockwatch April
29 1997. Present studies indicate that the large diamonds did not come from any
of the presently known pipes in the concession so that their respective sources still
have to be determined.
The joint venture has recently discovered three new kimberlite pipes, as well as
over 60 new targets through a combination of field sampling and airborne and
ground geophysical surveys. The majority of the targets were identified from a
65,000 line km high sensitivity - low altitude aeromagnetic survey which started in
April 1997 and expected to be completed by the end of this year.
The majority of the presently known pipes extend to a few metres below the
surface and were easily confirmed by test pitting as opposed to drilling. All except
one of the eight known diamondiferous pipes were proven by trenching. Other
undiscovered pipes in the concession, including the sources of the large diamonds,
could similarly be under shallow cover. Thus, several new kimberlite pipes could
simply be confirmed by test pitting rather than by drilling.
CURRENT WORK PROGRAM
Exploration teams are currently carrying out SLINGRAM electromagnetic surveys
in areas directly upstream of the large alluvial diamond occurrences. The
SLINGRAM method has been successfully used worldwide to detect kimberlitic
bodies with no magnetic signature but which are more electrically conductive than
the rocks surrounding them. Such major diamond bearing kimberlitic bodies
include the famous Argyle deposit of Australia and the Mwadui of Tanzania.
The Delys, Kereko and Tenin-Camara kimberlite pipe discoveries by the
Mink-Ashton joint venture in July 1997 were found by using SLINGRAM, both
in areas where positive field sample results were obtained and over aeromagnetic
anomalies. Test pits excavated along anomalies delineated by SLINGRAM led to
the confirmation of these new pipes.
Following this success, the joint venture will again employ the above described
method in a number of selected targets. The areas in which the joint venture
discovered significant small diamonds, kimberlitic chromites and pyrope garnets,
potentially the sources of the Kenieba large diamonds, are the top priorities.
Priority Targets
The 44 hectare Kassama anomaly atop the 350 metre high Tambaoura plateau
bordering the Kenieba Valley to the west. Discovered by Ashton geologists
through interpretation of aeromagnetic data and follow-up ground magnetometer
surveys, it could reflect the largest known kimberlite pipe in West Africa today.
A 10km x 10km zone a few kilometres east southeast of the Kassama anomaly
where three large diamonds, each weighing 98, 51 and 34 carats respectively,
were recorded. Recent samples from this vicinity yielded significant kimberlitic
chromite and magnesian ilmenite indicator minerals and these suggest a proximate
kimberlite pipe, potentially the source of the large diamonds in the Tambaoura
plateau.
The area upstream from and surrounding the large diamond (viz: 232, 137, 102
carats) unexplained occurrences. This area, where a SLINGRAM survey is now
in progress, could yield the kimberlite pipe source of the large diamonds in the
Kenieba Valley.
South of Kenieba Town and the Doundi River where recent samples exhibited
significant chromites and pyrope garnets. The positive results in this sector
suggests the presence of other kimberlite pipes which may have contributed to the
large diamond occurrences at Sansanto at a relatively short distance downstream.
AEROMAGNETIC SURVEY
The company has received from Aerodat new aeromagnetic data covering a
further 20% of the planned 65,000 line kilometre airborne survey. Ashton
geophysicists are currently interpreting the survey results. Aerodat also informed
the company that it has completed flying the area covering the current top priority
targets in the Kenieba Valley, including the adjacent Tambaoura plateau. Aerodat
will forward the results to Mink immediately after processing the survey data. This
will bring the aeromag survey to 60% completion.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
old url (better for printing)
best of luck
Leandro |
