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Gold/Mining/Energy : TRIVALENCE MINING
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To: mick who wrote (514)7/26/2000 3:39:29 PM
From: Phil Cressman  Read Replies (1) of 527
 
Afternoon, back from a bit of vacation and did call IR today. The story on K23 is that it does cover a large area and to perform the bulk test they did the following. Stripped off the laterite cap (up to 10 meters thick in places) then they trenched into weathered kimberlite 'yellow ground' and dug out perhaps 5 meters deep up to 35 meters long in a number of these trenches. The feeling was that this would then give them sufficient data to figure out what they had. An earlier sample of unweathered hard rock kimberlite gave them some idea of what they hoped to find and indeed other experts in the field confirmed that the indicator minerals and micro/macro diamond count pointed to a pipe containing between .2 and .4 carats per tonne.

Now everybody is scratching their head and still don't know what the potential grade of the diamond pipe is. Everything points to a higher grade than found in weathered ground therefor they're spending the money to find out what the grade is further down in unweathered material. The drill contract by the way is within a few days of being signed.

What else? presently sitting on about 6,000 carats and there won't be an August sale since the diamond industry kind of shuts down then, looking for a September sale and probably around 10,000 carats.

News release probably out soon about Parmagiet, Botswana exploration and starting up in Northern Quebec.

Regarding the resource estimate. The previous operator at Arenor processed about 15 million tonnes of material and TMI so far about 2 million. Diamonds obtained from this material corresponded almost exactly to the drill results and estimates expolated from these. Price per carat received this year has been much higher than projected due to the high quality of stones found.

At Arenor there is continual ground sampling and prospecting going on to identify potential kimberlite targets but no drilling other than K23 is currently being considered. One kind of problem they face is that diamonds can be found in almost any drainage area but there isn't any point in chasing down small dykes or fissures.
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