Caldara's Diamond CDR,M Message Board

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Gold/Mining/Energy : Caldara's Diamond CDR,M

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To: d.h. who wrote (56)	6/18/1997 3:28:00 AM
From: Moez	of 303

This is the memo I recieved about two weeks back. I'm baffled over this stock...but I feel good times are coming. Caldera Resources Inc.(CDR.M) NEWS RELEASE Update On Abminga diamond project May 29,1997 Over the past three years, Caldera has defined a world class diamond exploration project at Abminga- In addition it has a highly prospective diamond project at Edwards creek and has defined significant gold-base metal targets at the Oodnadatta Project- The Company hoped to make further significant progress when it begins detailed testing of the diamond potential of a selection of pipes at Abminga and Edwards Creek. The principal recent developments for the company have involved: Drilling contract --- A drilling contract has been negotiated with Frank Walsh drilling pry Ltd. from Adelaide in South Australia to conduct a program of up to 10,000 meters of reverse circulation drilling to commence at Abminga in the first week of July. The program will initially target pipes on E 1936 and will later move to testing of pipes on E 1579 and I 1890- The drilling rig is presently being upgraded to enable a depth capability in excess of 400 meters- Rigs with this depth capability are in strong demand and this shortage has delayed commencement of the program. The contract calls for drilling to commence in the first week of July. Scintrex contract - Caldera has contracted Scintrex Pty Ltd to conduct detailed ground magnetic and gravity surveys over 11 aeromagnetic targets in the Oodnadatta Project area. These targets have geophysical signatures that indicate potential for Olympic Dam gold-base metal-uranium style mineralisation. Following completion of the Oodnadatta survey. the Scintrex crew will move to the Edwards creek Project to survey seven aeromagnetic anomalies to enable more precise target definition prior to drill testing later in the year. Overview --- The drilling program at Abminga is intended to test 8 to 10 pipes in which the chromite chemistry has established diamond potential. The diamond exploration potential of these pipes was established through mineralogical and microprobe analysis that has been continuing throughout the Australian summer break in field exploration activities. Samples from the 1995 1996 drilling program have been investigated locally in Perth and as an added verification, samples have been submitted to Lakefield laboratories in Ontario, Canada. The results from this exhaustive testing has been unambiguous; the heavy mineral suite from these pipes includes abundant chromite grains with a chemical composition showing they were derived from the diamond stability field, No diamond bearing pipe anywhere in the world is devoid of a mineralogy that has not been derived from the diamond stability field- Caldera research has shown the Abminga mineralogical data and data from known diamondiferous pipes elsewhere in the world to show remarkable similarities - Comparison of the Abminga pipes with those in the Verkhortina field, Archangel. Russia, show many common geological features. These pipes may provide a geological model to assist future exploration at Abminga. Securing a drill rig width a depth capability over 400 meters has been a crucial requirement for the drilling program to allow sampling of the pipes below the crater lake and tufaceous facies previously drill tested. Perverse circulation drilling has been chosen to provide bulk samples of approximately 30 to 50 tonnes from each pipe. This material will undergo preliminary separation procedures in Perth and the final concentrates submitted to Lakefield laboratories in Canada for microdiamond separation. Caldera is engaged in diamond exploration in the Abminga region of northern South Australia. Caldera is the major tenement holder in the region and is exploring a potentially world class kimberlite/lamproite field - Jason Shepherd Int'l Corporate Development Caldera Resources Inc. what'da'think? ...moez

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