Although the results recently released are from a bulk sample taken years ago the climate for North American diamond producers has changed. Until recently noone would believe a NA diamond mine was possible. Here is their NR.
Diamond Recovery of George Creek Kimberlite Dike
3/12/01
CONSOLIDATED PACIFIC BAY MINERALS LTD ("CBP-V") - Diamond Recovery of George Creek Kimberlite Dike
Guilford H. Brett, President of Consolidated Pacific Bay Minerals Ltd. (the "Company") is pleased to announce the particulars of diamond recovery of George Creek Kimberlite surface bulk sample testing conducted by Lac Minerals/Superior Oil joint venture as indicted in the previous news release. The George Creek kimberlite is a near vertical dike measuring over 2,000 metres long by 1.5 metres width located in the State Line District of Colorado State.
A 3,000-ton George Creek kimberlite surface bulk sample was processed for macro-diamonds at the Superior/Mobil/Lac diamond test plant at the nearby Sloan Property (this facility is currently owned by Dia Met Minerals). The bulk sample processing at the plant was operated with a 0.5 millimetre cutoff in size corresponding to the size break between micro-diamonds and macro-diamonds.
According to Kenneth Shaver, Ph.D. processing of the surface kimberlite material resulted in recovering 89,155 macro-diamonds weighing approximately 1,700 carats. Diamond grades averaged 75 carats per hundred tonnes (cpht). Several diamonds greater than 2 carats were recovered, and the largest stone weighed 2.14 carats. These diamonds were grouped into three size fraction by using standard diamond Trading Company (DTC) sieves with circular apertures. Each size fraction was evaluated for crystal form, color, and fluorescence. A very high proportion of colorless stones were reported in these size fraction. This select sample of 593 George Creek macro-diamonds having sieve size ranging from +2.5mm to -4.5mm classified into approximately 88% colorless diamonds. There is a small percentage of colored diamonds with yellow and brown tones, and their percentage decreases with increasing size. Yellow and brown diamonds dominate within the colored categories and comprise approximately 15% of the 2.46mm - 2.85mm category. Green and gray diamonds occur in trace quantities.
From most of the recovered diamonds six morphological categories are distinguished including planar octahedra, transitional octahedra/tetrahexahedra, tetrahexahedra, tetrahexahedra ('dodecahedra'), macles, aggregates and undivided diamonds.
The Company is also pleased to announce the arrangement of a private placement comprising of 1,000,000 units consisting of one common share and one warrant at a price of $0.25 per unit. The warrant entitles the holder to purchase for two years one common share at a price of $0.25 during the first year and $0.28 during the second year. The proceeds of the private placement shall be utilized towards working capital. TEL: (604) 682-2421
Guilford Brett, President & CEO FAX: (604) 82-7576 Website: www.pacific-bay.com
This was followed by this clarification a couple days later
George Creek Kimberlite Dike
3/16/01
CONSOLIDATED PACIFIC BAY MINERALS LTD ("CBP-V;CPBMF-L0") - George Creek Kimberlite Dike
Guilford H. Brett, President of Consolidated Pacific Bay Minerals Ltd., (the "Company") states, that further to the company's news release on March 9th, 2001, the Company wishes to clarify its reference to the bulk sample taken by Dr. Kenneth Shaver, Ph.D. The processing of surface kimberlites gathered on the George Creek property, resulted in recovery of 89,155 macro-diamonds weighing 1700 carats. The bulk sample was taken in 1984 during the period in which Superior Oil and Lac Minerals were exploring the property. Dr. Shaver was the chief consulting geologist for the Superior Oil and Lac Minerals project at the time. He is also credited with the discovery of the diamondiferous kimberlite dykes at George Creek and Pearl Creek.
The Company plans to commence exploration on the George Creek property mid-June or early July 2001, which will include diamond drilling. TEL: (604) 682-2421
Guilford H. Brett, President & CEO, Director Website: www.pacific-bay.com |
