NEWS UPDATE
Marum completes Torngat property acquisition
Marum Resources Inc MMU
Shares issued 27,090,116 Dec 7 close $0.11
Wed 8 Dec 99 News Release
An anonymous director reports
Marum Resources has acquired over 240 square kilometres of mineral
exploration permits in the Torngat diamond area of Northern Quebec. This
impressive and fast moving diamond exploration play is proving to be a
major diamond discovery. Preliminary results released by Twin Gold Corp.,
after only three months of exploration, suggest the existence of a diamond
play that may rival the NWT diamond play in terms of the amount of
diamondiferous kimberlite available for evaluation. This preliminary
opinion is based on the diamond chemistry, diamond content and the size and
linear consistency of kimberlite dyke swarms and possible blowouts that
have so far been investigated by Twin Gold and projected to exist using
satellite and air photo imagery. Marum's land acquisition program is now
complete and exploration plans are being prepared.
Marum has been granted four exploration permits totalling 242.5 square
kilometres. These are PEM 1466 (57 kilometres), PEM 1477 (61 kilometres),
PEM 1486 (67.5 kilometres) and PEM 1488 (57 kilometres). The properties
were acquired on information obtained from a preliminary structural
analysis of the area using satellite imagery. PEM 1466 was acquired in
order to capture a swarm of linear features that intersect an elliptical
fracture zone similar to a set of structural elements that contains the
Torngat 1 dyke recently discovered and sampled by Twin Gold Corp. The two
structures are approximately five kilometres apart. All four permits were
acquired using structural information based on the orientation of the
Torngat 1, 2 and 3 dykes as well as the strong different orientation
displayed by Twin Gold's massive congregation of thick diamondiferous dykes
located about nine kilometres southeast of the Torngat 1, 2 and 3
locations. The four Marum properties cover large areas that include obvious
structures that are similar to the Twin Gold discovery structures in terms
of orientation, linear range extending over many kilometres, thickness,
colour, thermal properties, reflectance and weathering characteristics. The
area is an accessible, high subarctic plain with no soil or glacial cover,
except in valley bottoms that cover only a small part of the Marum permits.
Effectively, 95 per cent of the Marum permit areas consist of exposed rock
outcrops.
Several companies with permits in the area have joined Marum's structural
study on a cost-sharing basis. This kind of structural study is possible
because of the total lack of rock cover on the high plains and the size and
consistency of known and inferred kimberlite structures.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
|
