Airborne Survey to Define Drill Targets at SouthernEra/Caldera Yilgarn Diamond Prospect
TORONTO, Jan. 23 /CNW/ - An airborne magnetic in-fill survey will
commence later this month at the Yilgarn project, a joint venture of
SouthernEra and Caldera Resources, to test 42 anomalies and define up to 15
targets for drilling to begin in June. A total of 958 line kilometers will be
flown at 50 meter spacings. The Yilgarn project, the site of last year's
kimberlite pipe discovery, is located in Western Australia and now consists of
34 exploration licences covering approximately 1,300 square kilometers of the
Yilgarn craton.
The 42 targets were selected based on the similarity of their magnetic
response to the striking signature of last year's kimberlite pipe discovery.
Most of these targets also have highly prospective geochemical characteristics
with 27 of them returning a total of nearly 2,000 chrome-spinels from heavy
mineral concentrates. Two of these targets also generated three microdiamonds
from small (3 kilogram) loam samples and relict serpentine textures have been
identified in surface rocks at one of these sites where more than 200
kimberlitic chrome-spinels and surface geochemistry strongly suggest the
presence of a kimberlite pipe.
Last year's kimberlite pipe discovery will also be drill tested in the
June program. Loam sampling at this locality has produced 68 chrome-spinels.
"We are highly encouraged with these results which point to the potential
for a significant diamond discovery this year. Yilgarn is proving to be a very
cost effective program with expenditures by SouthernEra to date of C$315,000
and planned expenditures this year of C$200,000," said SouthernEra's Chairman
Dr. Chris Jennings. SouthernEra is earning a 51% interest in the Yilgarn joint
venture by spending a total of C$1.0 million over a four-year period.
SouthernEra Resources Limited is a diamond mining and exploration company
and an emerging platinum group metals producer. The common shares of
SouthernEra are traded under the symbol SUF on the Toronto Stock Exchange.
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For further information: SouthernEra Resources Limited: Rudi Fronk,
Director, Telephone: (416) 359-9282, Fax: (416) 359-9141,
e-mail: inbox@southernera.com |
