Hello Alan
This morning's news:
Yamba Lake Diamond Project Update Commencement of Follow-up Exploration
YAMBA LAKE, NORTHWEST TERRITORIES
CALGARY, July 21 /CNW/ - Tanqueray Resources Ltd. (TQY-ASE) together with
joint venture partners, Mill City International Inc. (MIY-VSE) (MIYN-OTC) and
Cypango Ventures Ltd. (CAV-VSE) have been advised by SouthernEra Resources
Ltd. (SUF-TSE), operator of the project, of the progress on diamond
exploration on the Yamba Lake project.
The Yamba Lake project, a joint venture between SouthernEra Resources
Limited (51%), Tanqueray Resources Ltd. (19%), Mill City International Inc.
(19%) and Cypango Ventures Inc. (11%), is located within the Lac de Gras
kimberlite field approximately 46 kilometers to the north of the producing BHP
Dia Met Minerals' Ekati diamond mine.
Since commencing work on the property in August, 1998, SouthernEra has
completed the following work:
- Defined three significant kimberlitic mineral indicator trains in the
Gooseneck Lake Area
- Completed 8,000 line km high-resolution airborne magnetic and
electromagnetic surveys
- Re-drilled the known T-10 and Ptarmigan kimberlite pipes
- Completed 48 ground geophysical grids and drilled six geophysical
targets resulting in the discovery of one new kimberlite pipe (S-141)
The objective of the diamond exploration programme over the next two
months will be to follow up on the work to date.
- A till sampling programme, to commence in late July, 1999, will be
completed in order to define and trace the origin of the three
kimberlitic mineral indicator trains, identified in the Gooseneck Lake
area from 1,007 samples collected during August, 1998. These do not
appear to be associated with the currently known kimberlite pipes. All
three indicator trains have returned positive pyrope, eclogitic and
chromite microprobe chemistries suggesting that the primary source
kimberlites may have very good diamond potential.
- Interpretation of all the new airborne data has been completed and
possible diamond drill targets are currently being selected from more
than ninety possible kimberlite targets identified from this
information. In order to do this, till samples will be collected
down-ice of the targets, more than twenty-five of which are ranked as
high priority. Land based geophysical targets indicative of kimberlite
pipe intrusions will be ground checked this summer (the new S-141 is
land based). Diamond drill core testing of targets is expected to
follow, after a full review of all the data generated by the current
two month sampling programme has been completed.
The Ptarmigan pipe returned 0 microdiamonds from 61.8kg and the S-141
returned 1 microdiamond from 40.5kg of kimberlite. No further work is planned
on the Ptarmigan and S-141 pipes.
The T-10 pipe returned 2 microdiamonds and 1 macrodiamond from 86.2kg of
kimberlite (0.35 diamonds per 10kg). SouthernEra's microdiamond recovery from
this pipe does not correlate with microdiamond recoveries of 62 microdiamonds
and six macrodiamonds from 83.6kg of processed kimberlite (8.1 diamonds per
10kg) reported by Cypango in 1997. The T-10 pipe has several phases of
kimberlite, each of which could have different diamond counts. SouthernEra is
investigating the possible reasons for the discrepancy. The T-10 pipe has
returned good to excellent pyrope, eclogitic and chromite chemistry suggesting
that the pipe may have good diamond potential.
The joint venture partners are highly encouraged with the positive till
sample results and the number of geophysical targets that remain to be fully
tested and look forward with confidence, to the outcome of the current
programme in the Northwest Territories.
Neither the Alberta Stock Exchange nor the Vancouver Stock Exchange have
approved or disapproved the information contained herein.
***
You can see my comments on the SUF thread if you they are of interest.
Message 10596972
Regards |
