Hello Frank
Thank you,... long time no talk.
Saw this on DSP's NR this evening. Of interest to SUF, MIY & TQY shareholders.
Diamondex Resources Ltd. - Winter 2001 Exploration Update
CDNX: DSP
VANCOUVER, March 8 /CNW/ - Diamondex Resources Ltd. (DSP-CDNX) is pleased
to provide an update on its exploration programs currently being conducted in
the Northwest Territories.
KING PROPERTY
Construction of a new 24-man camp was completed by mid-February and was
operational as of February 28, 2001. Two drill rigs and crews are currently on
site with initial holes expected to be collared on Friday, March 9th. This
initial drill program comprising 6900 meters, is designed to test the down dip
potential of the Snap Lake Diamond Deposit with four holes drilled on
approximately 800 metre centers and located about 200 metres north of the
Camsell / King property boundary. Each of these four holes will take
approximately 45 days to complete. Preliminary information on kimberlite
targets, other than the extension of the NW dyke, may also result from this
drill program. Equipment is currently being mobilized for the 2 D reflection
seismic survey expected to commence by March 10th. This experimental seismic
survey is a joint venture with De Beers Canada Mining Inc. and the Department
of Earth and Ocean Sciences at the University of British Columbia. If this
initial survey is successful, plans are to conduct a 3-D survey over the King
property in 2002 and results would be used to guide further drill programs. In
addition, a 3200 line km airborne survey being conducted by Fugaro at 150
metre line spacing is expected to commence by the end of March.
The King Property is situated approximately 220 kilometers northeast of
Yellowknife and immediately adjoins to the north of the Snap Lake Diamond
Deposit owned by De Beers Canada Mining. The King property is 100% owned by
Diamondex.
CARAT PROPERTY
Detailed ground geophysics including Mag, resistivity and gravity
commenced on the February 21st to evaluate 14 anomalies previously identified
by airborne geophysics and/or till sampling. Following the completion of these
surveys, a 1500 metre drill program will be carried out to test several of
these targets, which is expected to commence in early April.
The Carat property is located approximately 340 kilometres northeast of
Yellowknife, N.W.T. and immediately adjoins the northern claim boundary of the
Ekati Diamond Mine property owned by BHP Diamonds Ltd./ Dia Met Minerals et
al. Diamondex has acquired a 60% interest in the property and is currently
earning an additional 10% by spending a further $1 million before December 31,
2002.
Regards
Vaughn |
